MIRA
INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
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Name : |
NOAMAN HASSAN NOAMAN CO |
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Registered Office : |
28 El Sakifa
Street, Bakous, |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1973 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Stationery, Matches, Hair
Dryers, Spices, Seafood and Chocolate |
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$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : NOAMAN HASSAN NOAMAN CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1973
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 12
Activities : Import and distribution of stationery, matches, hair dryers, spices, seafood and chocolate
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
COMPANY NAME
NOAMAN HASSAN
NOAMAN CO
ADDRESS
Registered & Physical Address
Street : 28 El Sakifa Street
Area : Bakous
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5754994
Facsimile : (20-3) 5761287
Mobile : (20-10) 6696230
Email : noamanco@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Hassan
Noaman Hassan Noaman Managing
Partner
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Ahmed
Noaman Hassan Noaman Partner
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Mohamed
Noaman Hassan Noaman Partner
LEGAL FORM & OWNERS
Date of Establishment : 1973
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder (s)
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Hassan
Noaman Hassan Noaman
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Ahmed
Noaman Hassan Noaman
·
Mohamed
Noaman Hassan Noaman
OPERATIONS
Activities: Engaged in the import and distribution of stationery,
matches, hair dryers, spices, seafood and chocolate.
Import
Countries: India, China and
Thailand
International
Suppliers:
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Atasi
Overseas India
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Ashaki India
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Barmil
Mandir India
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Super
Majestic China
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City
Power China
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Light
Power China
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Sun
Tuna Thailand
Brand Names: KANGAROO, ROSE, and HORSE
Operating Trend: Steady
Subject has a
workforce of 12 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 7,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Arab
International Bank
2 El Horreya Road
Alexandria
Tel: (20-3) 4869873
Fax: (20-3) 4833230
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction July
2004
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Noaman Hassan
Noaman Co is well established in the local business community with operations
dating back to 1973. The business is engaged in the import and distribution of
general merchandise, such as stationery, foodstuff, matches, hair dryers and
related accessories.
It deals with a
host of reputable international suppliers with no problems noted regarding the
manner in which it fulfils its payment obligations. Local sources report the
operating history is clear and the financial situation is satisfactory. As such
the above credit figure is deemed admissible.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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%)