MIRA
INFORM REPORT
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Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
NAIL TRADE EST |
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Registered Office : |
5A Zaki Street, El Tawafikya Area, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
38, North Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Traders of Auto Spare Parts 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$ 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 : NAIL TRADE EST
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1980
Commercial Registration Number : 38, North Cairo
Invested Capital : £E 50,000
Total Workforce : 6
Activities : Traders of auto spare parts and related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
NAIL TRADE EST
ADDRESS
Registered & Physical Address
Street : 5A Zaki Street
Area : El
Tawafikya Area
Town : Cairo
Country : Egypt
Telephone : (20-2) 25781360
Facsimile : (20-2) 25762010
Mobile : (20-12) 2789198
Email : s_nail2005@yahoo.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Salah
Eddine Hassan Nail Proprietor
& General Manager
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Yasser
Othman Assistant
General Manager
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Hussain
Abdul Bari Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1980
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 38, North Cairo
Invested Capital
: £E 50,000
Mr Salah Eddine Hassan Nail is the sole proprietor of
the business.
OPERATIONS
Activities: Engaged as traders of auto spare parts and related accessories.
Import
Countries: United Kingdom,
Italy, United States of America and Asia.
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 5,100,000 £E 5,275,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Yasser Othman.
BANKERS
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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
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%)