MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL FERDOUS FOR ENGINEERING SERVICES |
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Registered Office : |
3
Saint Catherine Square, El Manshia, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
2005 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Commercial Agents Specialising
in Electrical and Mechanical Equipment |
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$ 100,000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL FERDOUS FOR ENGINEERING SERVICES
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2005
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 5
Activities : Commercial agents specialising in electrical and mechanical equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
AL FERDOUS FOR ENGINEERING SERVICES
ADDRESS
Registered & Physical Address
Street : 3 Saint
Catherine Square
Area : El
Manshia
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4879061
Facsimile : (20-3) 4879061
Mobile : (20-10) 5481200
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Fatma
Ahmed El Sayed Managing
Partner
·
Sherif
Ramadan Partner
·
Karam
Hassan General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder (s)
·
Fatma
Ahmed El Sayed
·
Sherif
Ramadan
OPERATIONS
Activities: Commercial agents
specialising in electrical and mechanical equipment, including distribution
boards and electric boxes.
Agents for Irinox and Ebistolio.
Import
Countries: India, Italy and
China
Operating Trend: Steady
Subject has a
workforce of 5 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 6,700,000 £E 7,200,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Banque du
Caire Barclays Internationale SAE
12, Midan El Sheikh Youssef Street
Garden City
PO Box: 110, Maglis El Shaab
Cairo
Tel: (20-2) 3542195 / 3549415 / 3549422
Fax: (20-2) 3552746
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
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%)