MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEFERTITI CO FOR PAPER PRODUCTS |
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Registered Office : |
3rd
Industrial Zone, Plot No. 1/5, Sharkeya, PO Box 805, 10th of Ramadan City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1986 |
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Com. Reg. No.: |
55395, Sharkeya |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of Wrapping and
Toilet Paper. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NEFERTITI CO FOR PAPER PRODUCTS
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1986
Commercial Registration Number : 55395, Sharkeya
Industrial Registration Number : 207700
Issued Capital : £E 1,147,000
Paid up Capital : £E 1,147,000
Total Workforce : 100
Activities : Manufacture of wrapping and toilet paper.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
NEFERTITI CO FOR PAPER PRODUCTS
ADDRESS
Registered & Physical Address
Location : 3rd
Industrial Zone, Plot No. 1/5
Area : Sharkeya
PO Box : 805
Town : 10th of Ramadan
City
Country : Egypt
Telephone : (20-15) 411085 /
413220
Facsimile : (20-15) 413218
Mobile : (20-12) 1413264
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of the 10th of Ramadan City.
KEY PRINCIPALS
Name Position
·
Ahmed
Mohamed Abu Omar Managing
Partner
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Samir
Nessim Shehata Partner
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Samir
Roushdy Accounts
Manager
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Moustafa
Kamel Ebeid Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1986
Legal Form :
Limited Liability Partnership
Commercial Reg. No. : 55395, Sharkeya
Industrial Reg. No. : 207700
Issued Capital : £E 1,147,000
Paid up Capital : £E 1,147,000
Name of Shareholder (s)
·
Ahmed
Mohamed Abu Omar
·
Samir
Nessim Shehata
OPERATIONS
Activities: Engaged in the
manufacture of wrapping and toilet paper.
Import
Countries: Italy and
Germany
Operating Trend: Steady
Subject has a
workforce of approximately 100 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 17,300,000 £E 19,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Egyptian Gulf
Bank
El Orman Plaza Building
8-10 Ahmed Nessim Street
PO Box: 56
Cairo
Tel: (20-2) 3606580 / 3606467
Fax: (20-2) 3420265 / 3606512
·
Misr
International Bank (MIBANK)
14, Alfy Street
PO Box : 631
Cairo
Tel : (20-2) 5931002
Fax : (20-2) 5912306
· Bank of Alexandria
Heliopolis Branch
Cairo
Tel: (20-2)
6332958 / 6351980 / 2417294
Fax: (20-2)
6381604
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%)