MIRA
INFORM REPORT
|
Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EGYPTIAN INTERNATIONAL GROUP FOR TRADE |
|
|
|
|
Registered Office : |
7/2
Hosney Shebl Street, Off Bader & El Gazer Street, New Maadi,
Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
2006 |
|
|
|
|
Com. Reg. No.: |
0224, Maadi |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Import and Distribution of Restaurant and Hotel Supplies
and Equipment |
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$ 100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EGYPTIAN INTERNATIONAL GROUP FOR TRADE
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2006
Commercial Registration Number : 0224, Maadi
Invested Capital : £E 30,000
Total Workforce : 6
Activities : Import and distribution of restaurant and hotel supplies and equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
EGYPTIAN
INTERNATIONAL GROUP FOR TRADE
ADDRESS
Registered & Physical Address
Street : 7/2
Hosney Shebl Street, Off Bader & El Gazer Street
Area : New
Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 27036014
Facsimile : (20-2) 27036014
Mobile : (20-12) 1759743 / (20-10) 6370136
Email : khaled.thabet@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Khaled
Thabet Therwat Proprietor
& General Manager
·
Hani
Abdul Wahab Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2006
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 0224, Maadi
Invested Capital
: £E 30,000
Mr Khaled Thabet Therwat is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the import and distribution of
restaurant and hotel supplies and equipment.
Import
Countries: Hong Kong and
Turkey
International
Suppliers:
·
IPS
Trolley Hong Kong
·
Campro Turkey
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/07:
Total Sales £E
1,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Khaled Thabet Therwat,
Proprietor.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Egyptian
International Group For Trade is a relatively new
business with operations commencing in 2006. It is engaged in the import
and distribution of restaurant and hotel supplies and equipment.
According
to local sources subject is making steady progress in the local business market
and nothing detrimental has been reported regarding the manner in which
payments are fulfilled. As such the business is considered to be a fair trade
risk.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.94 |
|
UK Pound |
1 |
Rs.82.84 |
|
Euro |
1 |
Rs.65.95 |
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%)