MIRA
INFORM REPORT
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Report Date : |
30.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABU EL HOUL CO |
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Registered Office : |
16 El Sheikh
Mohamed Abdo Street, Aed El Gamaia, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
10432, Cairo |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and Distribution of Agricultural Machinery and
Related Spare Parts |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ABU EL HOUL CO
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1980
Commercial Registration Number : 10432, Cairo
Partners Capital : £E 150,000
Total Workforce : 15
Activities : Import and distribution of agricultural machinery and related spare parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Hazem Attiya, Finance Manager
COMPANY NAME
ABU EL HOUL CO
ADDRESS
Registered & Physical Address
Street : 16 El Sheikh Mohamed Abdo
Street
Area : Aed El Gamaia
Town : Cairo
Country : Egypt
Telephone : (20-2) 25740416
Facsimile : (20-2) 25754776
Mobile : (20-10) 4067779
Email : abuelhoul_co@yahoo.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Osama
Ahmed El Sayed Hassanin Managing
Partner
·
Mohamed
Ahmed El Sayed Hassanin Partner
·
Hazem
Attiya Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1980
Legal Form :
General Partnership
Commercial Reg. No. : 10432, Cairo
Partners Capital : £E 150,000
Name of Partner (s)
·
Osama
Ahmed El Sayed Hassanin
·
Mohamed
Ahmed El Sayed Hassanin
AFFILIATED COMPANIES
·
Abu
El Houl For Trading & Engineering
Cairo
Tel: (20-10)
4067779
OPERATIONS
Activities: Engaged in the import and distribution of
agricultural machinery and related spare parts.
Import
Countries: Europe and Japan
International
Suppliers:
·
TB Peston Japan
Operating Trend: Steady
Subject has a
workforce of 15 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 8,900,000 £E 10,220,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Banque Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources report
that payment obligations are met in a generally timely manner and the operating
history is clear. As such the business 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.46.94 |
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UK Pound |
1 |
Rs.85.57 |
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Euro |
1 |
Rs.67.79 |
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%)