MIRA
INFORM REPORT
|
Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
WATER CHEMICAL COMPANY |
|
|
|
|
Registered Office : |
No. 28 Street, El
Gezira El Khadra, Alexandria |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Com. Reg. No.: |
46052, Alexandria |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Import and Distribution of Water
Treatment Chemicals as well as the Installation of Water Treatment Plants |
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$ 125,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : WATER CHEMICAL COMPANY
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2005
Commercial Registration Number : 46052, Alexandria
Issued Capital : £E 80,000
Paid up Capital : £E 80,000
Total Workforce : 10
Activities :
Import and distribution of water treatment chemicals
as well as the
installation of water treatment plants
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
Person Interviewed : Mohamed Abdulrahman, Administration Manager
COMPANY NAME
WATER CHEMICAL
COMPANY
ADDRESS
Registered & Physical Address
Location : No. 28 Street, El Gezira El Khadra
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4200097 / 4293623
Facsimile : (20-3) 4279693
Mobile : (20-10) 1035022 / (20-12) 3157426
Email : waterchemicals@hotmail.com
Premises
Subject operates
from a small suite of offices and a storage facilities that are rented and
located in the Industrial Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Alaa
Mohamed Safwat Atta Managing
Partner
·
Rouf
Ahmed Ali El Deeb Partner
·
Mohamed
Abdulrahman Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 46052, Alexandria
Issued Capital : £E 80,000
Paid up Capital : £E 80,000
Name of Shareholder (s)
·
Alaa
Mohamed Safwat Atta
·
Rouf
Ahmed Ali El Deeb
AFFILIATED COMPANIES
·
Egyptian
Water Treatment Co (Egyptwater)
Egypt
OPERATIONS
Activities: Engaged in the import and distribution of water treatment chemicals as well as the installation of
water
treatment plants.
Import
Countries: India, Germany
and Italy
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 6,200,000 £E 7,580,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel : (20-3) 4824643 / 4834255
Fax : (20-3) 4832240
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.46 |
|
UK Pound |
1 |
Rs.83.37 |
|
Euro |
1 |
Rs.64.46 |
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%)