MIRA
INFORM REPORT
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Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEW GATCO CO |
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Registered Office : |
23
Roshdy Street, Abdin, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1962 |
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Com. Reg. No.: |
186463 |
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Legal Form : |
General Partnership |
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Line of Business : |
Commercial Agents in the Field
of Motorcycle Spare Parts andE |
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 : NEW GATCO CO
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1962
Commercial Registration Number : 186463
Partners Capital : £E 50,000
Total Workforce : 10
Activities : Commercial agents in the field of motorcycle spare parts and engines
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
NEW GATCO CO
ADDRESS
Registered & Physical Address
Street : 23
Roshdy Street
Area : Abdin
Town : Cairo
Country : Egypt
Telephone : (20-2) 23903957
Facsimile : (20-2) 23919466
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
109
Mohamed Farid Street Rented
showroom premises
Abdin
Cairo
Tel: (20-2) 23958314
Fax: (20-2)
23909086
KEY PRINCIPALS
Name Position
·
Magdy
Ghebrial Managing
Partner
·
Hany
Eissa Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1962
Legal Form :
General Partnership
Commercial Reg. No. : 186463
Partners Capital : £E 50,000
Name of Partner (s)
·
Magdy
Ghebrial
·
Members of Mr Magdy Ghebrial’s family
OPERATIONS
Activities: Commercial agents
in the field of motorcycle spare parts and engines.
Agents for
Diachi International, Vietnam.
Import
Countries: Vietnam
Operating Trend: Steady
Subject has a
workforce of 10 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 7,805,000 £E 8,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Credit
Agricole Egypt
Hassan
Sabry Street
Zamalek
Cairo
Tel: (20-2)
27382661
Fax: (20-2)
27380114
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 business 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%)