MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHERIF CO |
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Registered Office : |
Muhakama
Street, Belas, kahleya |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1983 |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and distribution of general merchandise,
specialising in auto 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 : SHERIF CO
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1983
Partners Capital : £E 50,000
Total Workforce : 6
Activities : Import and distribution of general merchandise, specialising in auto spare parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Thamer Abdel Ghaffer Abdul Hamid Sherif, Managing Partner
COMPANY NAME
SHERIF CO
ADDRESS
Registered &
Physical Address
Street : Muhakama
Street
Area : Belas
Town : Dakahleya
Country : Egypt
Telephone : (20-50) 2786887
Facsimile : (20-50) 2784364
Mobile : (20-12) 2262821
Email : abusherif@hotmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dakahleya.
KEY PRINCIPALS
Name Position
·
Thamer
Abdel Ghaffer Abdul Hamid Sherif Managing
Partner
·
Rehab
Abdel Ghaffer Abdul Hamid Sherif Partner
LEGAL FORM & OWNERS
Date of Establishment : 1983
Legal Form :
General Partnership
Partners Capital : £E 50,000
Name of Partner (s)
·
Thamer
Abdel Ghaffer Abdul Hamid Sherif
·
Rehab
Abdel Ghaffer Abdul Hamid Sherif
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise, specialising in auto spare parts.
Import
Countries: India, China and
France
Operating Trend: Steady
Subject has a
workforce of 6 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 8,675,000 £E 9,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Misr
International Bank (MIBANK)
213 El Gomhoureya Street
Mansoura
Dakahleya
Tel: (20-50) 2312110
Fax: (20-50) 2313956
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.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)