MIRA
INFORM REPORT
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Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE EGYPTIAN ITALIAN COMPANY FOR TRADING AND INDUSTRY |
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Registered Office : |
45 Mageed Besheer
Street, Shubra El Kheima Industrial Zone, Kaliubeya,
Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1976 |
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Com. Reg. No.: |
22033 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Spinning
and Weaving Machinery 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$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : THE EGYPTIAN ITALIAN COMPANY FOR TRADING AND INDUSTRY
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1976
Commercial Registration Number : 22033
Tax Card Number : 208-330-712
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Total Workforce : 100
Activities : Import and distribution of spinning and weaving machinery spare parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
COMPANY NAME
THE EGYPTIAN
ITALIAN COMPANY FOR TRADING AND INDUSTRY
ADDRESS
Registered & Physical Address
Street : 45 Mageed Besheer Street
Area : Shubra
El Kheima Industrial Zone, Kaliubeya
Town : Cairo
Country : Egypt
Telephone : (20-2) 48046263
/ 48046267 / 46083565 / 48046260 / 48046269
Facsimile : (20-2) 48046267
Mobile : (20-10) 5064050 / 5183853
Email : rizkco@menanet.net
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Rizk
Malak Managing
Partner
·
Hany
Rizk Malak Partner
·
Walid
Rizk Malak Partner
LEGAL FORM & OWNERS
Date of Establishment : 1976
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 22033
Tax Card No. : 208-330-712
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of Shareholder (s)
·
Rizk
Malak
·
Hany
Rizk Malak
·
Walid
Rizk Malak
AFFILIATED COMPANIES
·
Rizk
Malak Co
Abd El Fatah Beshier Street
Cairo
Tel:
(20-2) 48046260
OPERATIONS
Activities: Engaged in the import and distribution of spinning and weaving machinery spare parts, such as
scissors and frames.
Import
Countries: Italy, Switzerland, Germany, and China
Operating Trend: Steady
Subject has a
workforce of approximately 100 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 15,800,000 £E 17,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National Bank
of Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.94 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
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%)