MIRA
INFORM REPORT
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Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAY TRADE SAE |
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Registered Office : |
14
Kolyeyet El Zeraa Street, 4th Floor, Apartment No. 4, Giza,
Cairo 12211 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
81846, Giza |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of Industrial Chemicals
as well as Importers of Agro Chemicals and Packaging |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MAY TRADE SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1989
Commercial Registration Number : 81846, Giza
Issued Capital : £E 800,000
Paid up Capital : £E 800,000
Total Workforce : 23
Activities :
Manufacturers of industrial chemicals as well as
importers of agro chemicals and packaging
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
MAY TRADE SAE
ADDRESS
Registered & Physical Address
Street : 14
Kolyeyet El Zeraa Street, 4th Floor, Apartment No. 4
Area : Giza
Town : Cairo 12211
Country : Egypt
Telephone : (20-2) 35703561
Facsimile : (20-2) 35703564
Mobile : (20-12) 3226722
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Suburban Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Tharwat
Abd El Hamid Sakr Chairman
·
Dina
Sakr Managing
Director
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Nada
Tharwat Abd El Hamid Sakr Director
·
Noha
Sakr Director
·
Mona
El Gahawy Director
·
Islam
Youssef Director
·
Ola
Safy El Din Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1989
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 81846, Giza
Authorised
Capital : £E 1,000,000
Issued Capital : £E
800,000
Paid up Capital : £E 800,000
Name of Shareholder (s)
·
Tharwat
Abd El Hamid Sakr
·
Dina
Sakr
·
Nada
Tharwat Abd El Hamid Sakr
·
Noha
Sakr
OPERATIONS
Activities: Engaged as manufacturers
of industrial chemicals in other party's factory under license of Heinkel
Sarnice
Technology, France. Subject also imports agro chemicals and
packaging for the agriculture and food sectors.
Import
Countries: United States of
America, France and Germany
Operating Trend: Steady
Subject has a
workforce of 23 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
46,500,000 £E
49,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Egyptian
American Bank
4 & 6 Hassan Sabri
Zamalek
PO Box : 1825
Cairo
Tel : (20-2) 3416150
Fax : (20-2) 3420265
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.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
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%)