MIRA
INFORM REPORT
|
Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
PHILOPATIR CO IMPORT & EXPORT AGENCIES |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
1988 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Import and Distribution of
Agriculture Equipment, Irrigation Systems and Spare Parts |
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$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : PHILOPATIR CO IMPORT & EXPORT AGENCIES
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1988
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Total Workforce : 8
Activities :
Import and distribution of agriculture equipment,
irrigation systems and
spare parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
PHILOPATIR
CO IMPORT & EXPORT AGENCIES
ADDRESS
Registered & Physical Address
Street :
Area : El
Sabtiya
Town :
Country :
Telephone : (20-2) 25779034
Facsimile : (20-2) 25779034
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
·
El
Marja
KEY PRINCIPALS
Name Position
·
Moris Yaqeeb Managing
Partner
·
Sameh Moris Yaqeeb Partner
·
Dr Osama Moris Yaqeeb Partner
LEGAL FORM & OWNERS
Date of Establishment : 1988
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of Shareholder (s)
·
Moris Yaqeeb
·
Sameh Moris Yaqeeb
·
Dr Osama Moris Yaqeeb
OPERATIONS
Activities: Engaged in the import
and distribution of agriculture equipment, irrigation systems and spare parts.
Import
Countries:
International
Suppliers:
·
Liaco
·
KB
·
BEC
Operating Trend: Steady
Subject has a
workforce of 8 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 7,250,000 £E 7,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
PO Box : 2430
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.83 |
|
|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.86 |
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%)