MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTERNATIONAL CENTRE FOR HERBS AND MEDICAL PLANTS |
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Registered Office : |
11 Hasan Abo
Sawan Street, Cairo, Egypt |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors and Commission Agents Dealing in Herbs and
Medicinal Plants. |
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 : INTERNATIONAL CENTRE FOR HERBS AND MEDICAL PLANTS
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1990
Invested Capital : £E 150,000
Total Workforce : 3
Activities : Distributors and commission agents dealing in herbs and medicinal plants.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
INTERNATIONAL
CENTRE FOR HERBS AND MEDICAL PLANTS
ADDRESS
Registered & Physical Address
Location : 11 Hasan Abo Sawan Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 5187744
Facsimile : (20-2) 5187744
Mobile : (20-12) 2128424
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
·
Helmy Ahmed El
Wakil Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1990
Legal Form :
Sole Proprietorship
Invested Capital
: £E 150,000
Mr Helmy Ahmed El
Wakil is the sole proprietor of the business.
OPERATIONS
Activities: Engaged as distributors and commission
agents dealing in herbs and medicinal plants.
Import
Countries: Turkey, China,
and India
Operating Trend: Steady
Subject has a
workforce of 3 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 5,800,000 £E 6,250,000
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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National Bank
of Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
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%)