MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELTA MISR FOR IMPORT AND EXPORT |
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Registered Office : |
396 Port Said
Street, PO Box 1175, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
09.11.1994 |
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Com. Reg. No.: |
285743, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution of glass products and general merchandise |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DELTA MISR FOR IMPORT AND EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 9th November 1994
Commercial Registration Number : 285743, Cairo
Invested Capital : £E 60,000
Total Workforce : 5
Activities : Import and distribution of glass products and general merchandise
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
Person Interviewed : Ahmed Abdulaziz, Finance Manager
COMPANY NAME
DELTA MISR FOR
IMPORT AND EXPORT
ADDRESS
Registered &
Physical Address
Location : 396 Port Said Street
PO Box : 1175
Town : Cairo
Country : Egypt
Telephone : (20-2) 23909865
Facsimile : (20-2) 23904633
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
·
Mohamed
Fareed Kamal Shalaby Proprietor
& General Manager
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Ahmed
Abdulaziz Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
November 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 285743, Cairo
Invested Capital
: £E 60,000
Mr Mohamed Fareed Kamal Shalaby is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the import and distribution of glass products and general merchandise. Subject also
offers a commercial agency service.
Import
Countries: Asia and Europe
Operating Trend: Steady
Subject has a
workforce of 5 employees.
FINANCIAL DATA
Financial highlights
provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales £E 4,750,000 £E 5,500,000
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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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
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.46.71 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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%)