MIRA
INFORM REPORT
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Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL ASHRY CO FOR IMPORT & EXPORT |
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Registered Office : |
216 Port Said
Street, Sporting, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment: |
1980 |
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Legal Form : |
General Partnership |
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Line of Business : |
Import, Packaging, Distribution and Export of Food
Products |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EL ASHRY CO FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1980
Partners Capital : £E 100,000
Total Workforce : 35
Activities : Import, packaging, distribution and export of food products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
EL ASHRY CO FOR
IMPORT & EXPORT
ADDRESS
Registered & Physical Address
Street : 216 Port Said Street
Area : Sporting
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5231166 / 5225334
Facsimile : (20-3) 5225570 / 5233499
Mobile : (20-10) 1883340
Email : elashrry@elashrry.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Suburban Business Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Osama Abdul
Ghani El Ashry Managing
Partner
·
Abdul Ghani El
Ashry Partner
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Manal
Abd El Malek Financial
Controller
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Marawa
Hasab Accounts
Manager
·
Mohamed
Kinawy Commercial
Manager
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Heba
Fouzi Sales
Manager
·
Zahra
Said Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 1980
Legal Form :
General Partnership
Partners Capital : £E 100,000
Name of Partner (s)
·
Osama Abdul
Ghani El Ashry
·
Abdul Ghani El
Ashry
OPERATIONS
Activities: Engaged in the import, packaging, distribution
and export of food products such as dried products, seeds & nuts, as well
as cotton & fabrics, stationery products, and chemicals.
Import
Countries: India and Spain
Operating Trend: Steady
Subject has a
workforce of 35 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 11,300,000 £E 13,850,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Arab
International Bank
2 El Horreya Road
Alexandria
Tel: (20-3) 4869873
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction June
2006
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
El Ashry Co For
Import & Export has been in business for over 25 years and specialises in
the import, distribution and export of food products such as dried products,
seeds & nuts, as well as cotton & fabrics, stationery products, &
chemicals.
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.47.76 |
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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%)