MIRA
INFORM REPORT
|
Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EL SAMA FOR IMPORT & EXPORT |
|
|
|
|
Registered Office : |
Building 7, 3rd
Floor, Office No. 303, 115 Jamal Eddine Al Shayel Street, Nasr City, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Distributors General Foodstuff Products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EL SAMA FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2004
Invested Capital : £E 100,000
Total Workforce : 10
Activities : Distributors general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
Person Interviewed : Dr Hassan El Banna Ahmed, Proprietor
COMPANY NAME
EL SAMA FOR IMPORT
& EXPORT
ADDRESS
Registered & Physical Address
Building : Building 7, 3rd Floor,
Office No. 303
Street : 115 Jamal Eddine Al Shayel
Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22611100
Facsimile : (20-2) 22611100 / 26719933
Mobile : (20-10) 5166665
Email : elbanna@elbanna.com
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
·
Dr Hassan El
Banna Ahmed Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form :
Sole Proprietorship
Invested Capital
: £E 100,000
Dr Hassan El Banna
Ahmed is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products, including rice, lentils, pepper,
vegetables and
confectionary.
Import Countries: Europe, Pakistan and Sudan
International
Suppliers:
·
Gar Ltd Pakistan
·
Super Rice
Meal Pakistan
·
Najam Al
Sahara Sudan
Brand Names: DIAMONTA
Operating Trend: Steady
Subject has a
workforce of 10 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 3,500,000 £E 4,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Societe Generale Bank
10 Talaat Harb Street
Cairo
Tel: (20-2) 35749376
Fax:
(20-2) 35776249
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
2004, subject is owned and managed by Dr Hassan El Banna Ahmed who is well
respected in the local business community.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding 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 admissible.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.76 |
|
UK Pound |
1 |
Rs.74.87 |
|
Euro |
1 |
Rs.60.81 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)