MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
NID MEDICAL CO |
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Registered Office : |
Amreya Free Zone,
Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2001 |
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Com. Reg. No.: |
15214, Alexandria |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture and Distribution of Medical
Equipment |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NID MEDICAL CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2001
Commercial Registration Number : 15214, Alexandria
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 25
Activities : Manufacture and distribution of medical equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
NID MEDICAL CO
ADDRESS
Registered & Physical Address
Location : Amreya Free Zone
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4841112 / 4542099
Facsimile : (20-3) 5823228
Email : info@nid-medical.com
Premises
Subject operates
from a small suite of offices and a factory that are rented and located in the
Industrial Area of Alexandria.
Branch Office (s)
Location Description
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76 Abd El
Salam Arif Street Rented
sales office
Saba Pash
Alexandria
Tel: (20-3) 5828653
KEY PRINCIPALS
Name Position
·
Dr
Hisham Ibrahim Obaid Managing
Partner
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Dr Azza Mohamed Salama Partner
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Mrs
Mona Mohamed Executive
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 2001
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 15214, Alexandria
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Shareholder (s)
·
Dr
Hisham Ibrahim Obaid
·
Dr Azza Mohamed Salama
OPERATIONS
Activities: Engaged in the manufacture and distribution
of medical equipment, medical products and
requisites,
including ECG
recording paper, intravenous products, ECG Electrodes, spinal needles, and
Gels.
Import
Countries: United Kingdom,
Germany, Austria, United States of America and Japan.
Operating Trend: Steady
Subject has a
workforce of 25 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 11,380,000 £E 12,700,000
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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Misr
International Bank (MIBANK)
33, Safia Zaghloul Street
Raml Station
Alexandria
Tel : (20-3) 4828174 / 4828213
Fax
: (20-3) 4838216
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%)