MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOHAMED SADEK ESTABLISHMENT FOR IMPORT & EXPORT |
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Registered Office : |
4 Salama Hegazy
Street, El Hussinia, Mansoura |
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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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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Agricultural
Equipment and Related Accessories |
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$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MOHAMED SADEK ESTABLISHMENT FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1988
Invested Capital : £E 50,000
Total Workforce : 6
Activities : Import and distribution of agricultural equipment and related accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
COMPANY NAME
MOHAMED SADEK ESTABLISHMENT FOR IMPORT &
EXPORT
ADDRESS
Registered & Physical Address
Street : 4 Salama Hegazy Street
Area : El Hussinia
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2232239
Facsimile : (20-50) 2331911
Mobile : (20-10) 5258255
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Mansoura.
KEY PRINCIPALS
Name Position
·
Mohamed
Sadek El Sayed Proprietor
& General Manager
·
Adel
Mohamed Sadek El Sayed Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1988
Legal Form :
Sole Proprietorship
Invested Capital
: £E 50,000
Mr Mohamed Sadek El Sayed is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the import and distribution of agricultural equipment and related accessories.
Import
Countries: India, Spain and
Italy
Operating Trend: Steady
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales £E 10,450,000 £E 11,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National Bank
of Egypt
55 El Kholafaa El Rashedeem Street
Mansoura
Tel: (20-50) 2233792
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
business 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%)