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MIRA
INFORM REPORT
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Report Date : |
26.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
EGYPTIAN COMPANY FOR PLASTIC & JUTE BAGS (ECPJ) |
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Registered Office : |
Industrial Area,
West Extension Area, Street No. 900, El Obour City, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
2007 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of Plastic and Jute Sacks and Bags. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 30,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EGYPTIAN COMPANY FOR PLASTIC & JUTE BAGS (ECPJ)
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2007
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 25
Activities : Manufacture of plastic and jute sacks and bags.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 30,000
COMPANY NAME
EGYPTIAN COMPANY
FOR PLASTIC & JUTE BAGS (ECPJ)
ADDRESS
Registered & Physical Address
Location : Industrial Area, West Extension
Area, Street No. 900
Area : El Obour City
Town : Cairo
Country : Egypt
Telephone : (20-2) 46651293
Facsimile : (20-2) 46651294
Mobile : (20-12) 6393396
Email : ieo2004@hotmail.com
Premises
Subject operates from
a small suite of offices and a workshop that are rented and located in the
Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
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Sayed
Hussain El Sayed Managing
Partner
LEGAL FORM & OWNERS
Date of Establishment : 2007
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 100,000
Paid up Capital :
£E 100,000
Name of Shareholder (s)
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Sayed
Hussain El Sayed
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Members of Mr Sayed Hussain El Sayed’s family
OPERATIONS
Activities: Engage in the manufacture of plastic and jute
sacks and bags.
Import
Countries: India, China and
Europe
Subject has a
workforce of 25 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of subject’s
infancy, extensive payment and financial records are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
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%)