MIRA
INFORM REPORT
|
Report Date : |
11.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MASKEM EGYPT LTD |
|
|
|
|
Registered Office : |
El Watania Building, Ground Floor, 5 El Sefarat District, Nasr City, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
Com. Reg. No.: |
12268,
Cairo |
|
|
|
|
Legal Form : |
Limited Liability
Partnership |
|
|
|
|
Line of Business : |
Importer and Exporter of Speciality Chemicals. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : MASKEM EGYPT LTD
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 2004
Commercial
Registration Number : 12268, Cairo
Import Registration
Number : 43155
Tax Card Number : 210-231-807
Issued Capital : £E 50,000
Paid up Capital : £E
50,000
Total Workforce : 8
Line of Business : Import and export of speciality chemicals.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MASKEM EGYPT LTD
ADDRESS
Registered & Physical Address
Building : El Watania Building, Ground Floor
Area : 5 El Sefarat District, Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 26720201 / 26720202
Facsimile : (20-2) 26720203
Mobile :
(20-10) 9003679
Premises
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of Cairo.
KEY PRINCIPALS
· Wahid
Zein El Din Managing
Partner
· Wael
Gomaa Partner
· Mohamed
Rashaad Accounts
Manager
· Hatem
Ali Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2004
Legal Form : Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership)
Commercial Reg.
No. : 12268, Cairo
Import Reg. No. : 43155
Tax Card No. : 210-231-807
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of Partner (s) Percentage
· Maskem Europe SA 60%
Luxembourg
· Wahid
Zein El Din ]
] 40%
· Wael
Gomaa ]
LINE OF BUSINESS
Operations : Engaged in the import
and export of speciality chemicals.
Import Countries : India, South Korea, and
Singapore.
Export Countries : Kenya, Saudi Arabia, and
Tanzania
Operating Trend : Steady
Subject has a workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pounds (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales £E
8,350,000 £E
9,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
BNP Paribas Bank
3 Latin America
Street
Cairo
Tel: (20-2)
27948323
Fax: (20-2)
27958156
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
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.
Maximum suggested credit figure: US$ 100,000
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)