MIRA
INFORM REPORT
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Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELTA CO FOR TRADING & CHEMICALS |
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Registered Office : |
Building No. 47,
Street No. 263, New Maadi, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1995 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of Industrial Chemicals |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : DELTA CO FOR TRADING & CHEMICALS
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1995
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 12
Activities : Distributors of industrial chemicals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mohamed Atef, Commercial Manager
COMPANY NAME
DELTA CO FOR
TRADING & CHEMICALS
ADDRESS
Registered & Physical Address
Building : Building No. 47
Street : Street No. 263
Area : New Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 25192316
Facsimile : (20-2) 27544553
Email : deltaco@soficom.com.eg
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Ahmed Mohamed
Al Sofi Managing
Partner
·
Hatim Mohamed
Al Sofi Partner
·
Taher Mohamed Sales
Manager
·
Mohamed Atef Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Name of Shareholder (s)
·
Ahmed Mohamed
Al Sofi
·
Hatim Mohamed
Al Sofi
OPERATIONS
Activities: Engaged in the import and distribution of
industrial chemicals.
Import
Countries: Europe and the
United States of America
Operating Trend: Steady
Subject has a
workforce of 12 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 6,670,000 £E 7,290,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Nationale
Societe Generale Bank
PO Box 2664
Cairo
Tel: (20-2) 27707777
Fax: (20-2) 27707799
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction October
2005
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in 1995,
subject is owned and managed by Mr Ahmed Mohamed Al Sofi and his brother Mr
Hatim Mohamed Al Sofi who are both well respected in the local business
community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be 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.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
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%)