MIRA
INFORM REPORT
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Report Date : |
13.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
NADOCHEM FOR TRADING AGENCIES |
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Registered Office : |
2nd Floor, Flat No. 6, 13 Dokki
Street, Giza, Cairo 12311 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1973 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Import and Distribution of Specialised Chemicals, Paints,
Inks and Building and Construction Chemicals. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NADOCHEM FOR TRADING AGENCIES
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 1973
Invested Capital : £E 50,000
Total Workforce : 8
Activities :
Import and distribution of specialised chemicals,
paints, inks and building and construction chemicals.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 100,000
COMPANY NAME
NADOCHEM
FOR TRADING AGENCIES
ADDRESS
Registered & Physical Address
Building : 2nd Floor, Flat No. 6
Street : 13 Dokki Street
Area : Giza
Town : Cairo 12311
Country : Egypt
Telephone : (20-2) 33358050 / 37484377
Facsimile : (20-2) 37619200
Email : nad@thewayout.net
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
KEY PRINCIPALS
Name Position
· Mrs
Nadia El Degwi Proprietor
& General Manager
· Ms
Ghada Saif Eddine Administrative
Secretary
LEGAL FORM & OWNERS
Date of
Establishment : 1973
Legal Form : Sole
Proprietorship
Invested Capital : £E 50,000
Mrs Nadia El Degwi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
specialised chemicals, paints, inks and building and construction materials.
Import Countries: India, United Kingdom, Germany, and Italy.
International Suppliers:
· Gwalior India
· Baseldon
Ltd United Kingdom
· Labrazor Germany
· ICS Italy
Operating Trend: Steady
Subject has a workforce of 8 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:
Sales £E
9,100,000 £E
9,780,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel : (20-2)
3912711 / 3912106
Fax : (20-2)
3919779
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 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%)