MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
FRIDAL F. TAREK ABOU BAKR & CO |
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Registered Office : |
3, Abd El Khaleq Azouz Street, Pyramids, Giza, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
14853 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of Aroma Compounds and Oils for Perfumes, Flavourings and Food Additives, Medical and Aromatic
Herbs |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : FRIDAL F. TAREK ABOU BAKR & CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1988
Commercial Registration Number : 14853
Issued Capital : £E 5,000
Paid up Capital : £E 5,000
Total Workforce : 250
Activities :
Manufacturers of aroma compounds and oils for perfumes, flavourings and food additives, medical and aromatic herbs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
FRIDAL F. TAREK ABOU BAKR & CO
ADDRESS
Registered & Physical Address
Street : 3, Abd El
Khaleq Azouz Street
Area : Pyramids,
Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 35822707
/ 35826247
Facsimile : (20-2)
35822707
Premises
Subject operates from a large suite of offices that are rented and
located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
· 2nd
Industrial Area Owned
factory &
Plot No. 13/14 warehouse
premises
Sixth of October
City
Tel : (20-2)
38330856 / 38330857 / 38331746
Fax : (20-2)
38331746
KEY PRINCIPALS
Name Position
·
Fouad Tarek Abou Bakr Managing
Partner
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Rabie Fouad Tarek Abou Bakr Partner
·
Hussein Abd El Fattah Finance
Manager
·
Hesham Sallam Sales
Manager
·
Ibrahim Youssef Marketing
Manager
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Dalia Hassan Production
Manager
·
Raghda El Khouly Import
Manager
·
Randa Abd El Latif Export
Manager
·
Sherif Mobarek Technical
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1988
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 14853
Issued Capital : £E 5,000
Paid up Capital : £E 5,000
Name of Shareholder (s)
·
Fouad Tarek Abou Bakr
·
Rabie Fouad Tarek Abou Bakr
OPERATIONS
Activities: Manufacturers of aroma compounds and oils for perfumes, flavourings and food additives, medical and aromatic herbs.
Import Countries: Japan, United States of America, Spain and the
United Kingdom
Export Countries: France, Germany, Italy, Spain, Syria, Jordan and
the United States of America
Brand Names: FRIDAL
Operating Trend: Steady
Subject has a workforce of approximately 250 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total sales £E
48,750,000 £E
53,200,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
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Export Development Bank of Egypt (EDBE)
10, Talat Harb
Street
PO Box : 2096
Cairo
Tel : (20-2)
763622 / 763624
Fax : (20-2)
768973
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National Bank of Egypt
24, Sherif Street
Cairo
Tel :
(20-2) 3924175
Fax :
(20-2) 3924143
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Fridal F. Tarek Abou Bakr & Co is run in a professional manner and
has been in business since 1988 specialising in the manufacture of aroma
compounds and oils for perfumes, flavourings and food
additives, medical and aromatic herbs.
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)