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MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
EGYPTIAN COMPANY FOR ADVANCED TECHNOLOGY SAE (ECAT) |
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Registered Office : |
MDC Building, 4th Floor, 12 Syria
Street, Mohandessin,
Cairo 12411 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1996 |
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Com. Reg. No.: |
1277, Giza |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of Advertisement Panels and Printing Inks, as well as Offering Printing Services |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EGYPTIAN COMPANY FOR ADVANCED TECHNOLOGY SAE (ECAT)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1996
Commercial Registration Number : 1277, Giza
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 25
Activities :
Manufacture of advertisement panels and printing
inks, as well as offering printing services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
EGYPTIAN COMPANY FOR ADVANCED TECHNOLOGY SAE (ECAT)
ADDRESS
Registered & Physical
Address
Building : MDC Building, 4th Floor
Street : 12 Syria Street
Area : Mohandessin
Town : Cairo 12411
Country : Egypt
Telephone : (20-2) 33356951 / 33382552 / 33382553
Facsimile : (20-2) 33356953
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· 4th
Industrial Zone, Piece No. 122G Factory
premises
Sadat City
Tel: (20-48)
2612181 / 2612180
KEY PRINCIPALS
Name Position
· Ashraf
Raouf Shalaby Managing
Director
· Reem
Sami Saad Director
· Youssef
Shalabi Director
· Ihab
Saad Zaghloul General
Manager
· Emad
Atef Finance
Manager
· Shady
Samir Marketing
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1996
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 1277, Giza
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Shareholder (s) Percentage
· Ashraf
Raouf Shalaby 70%
· Reem
Sami Saad 20%
· National
Investment Co 10%
OPERATIONS
Activities: Engaged
in the manufacture of advertisement panels and printing inks, as well as
offering printing services.
Import Countries: United
States of America and Europe
Operating Trend: Steady
Subject has a workforce of 25 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
11,500,000 £E
12,200,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Misr International Bank (MIBANK)
14, Alfy Street
PO Box :
631
Cairo
Tel :
(20-2) 5931002
Fax :
(20-2) 5912306
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk and
the above credit figure is within subject’s financial means.
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%)