MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
CROWN COMPANY FOR MANUFACTURING AND TRADING FOODSTUFF |
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Registered Office : |
Misr
Assiut Agricultural Road, Manial Sheiha, Giza, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Packaging, Wrapping and Distribution of Foodstuffs such as Tea and Biscuits |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : CROWN COMPANY FOR MANUFACTURING AND TRADING
FOODSTUFF
Trading As : CROWN COMPANY
Also Known As : ABD EL AZIZ HASSAN NASSER COMPANY
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1991
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 15
Activities : Packaging, wrapping and distribution of foodstuffs such as tea and biscuits
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
CROWN COMPANY FOR
MANUFACTURING AND TRADING FOODSTUFF
TRADING AS: CROWN COMPANY
ALSO KNOWN AS: ABD EL AZIZ HASSAN NASSER COMPANY
ADDRESS
Registered & Physical Address
Street : Misr
Assiut Agricultural Road
Area : Manial
Sheiha, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 35703622
Facsimile : (20-2) 35703633
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Cairo.
Branch Office
(s)
Location Description
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Maarouf
Tower Rented
sales office
33 Ramsis Street
Daher
Cairo
Tel: (20-2)
25763088 / 25766209
Fax: (20-2)
25746095
KEY PRINCIPALS
Name Position
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Riyad
Maamoun Nasser Managing
Director
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Adel
Abd El Fattah Nasser Director
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Mohamed
Abd El Aziz General
Manager
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Magdy
Mourgan Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder (s)
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Riyad
Maamoun Nasser
·
Adel
Abd El Fattah Nasser
OPERATIONS
Activities: Engaged in the
packaging, wrapping and distribution of foodstuffs such as tea and biscuits.
Import
Countries: Sri Lanka, India
and Europe
Brand Names: CROWN, LORD, and
EL TAG
Operating Trend: Steady
Subject has a
workforce of 15 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 7,600,000 £E 8,200,000
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
35 Abd El Khalek Sarwat Street
Cairo
Tel: (20-2) 3916391
Fax: (20-2) 3916233
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction February
2006
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
Crown Company For
Manufacturing And Trading Foodstuff has a good reputation in the local market and is engaged in the packaging, wrapping and distribution of foodstuffs such as
tea and biscuits.
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 deemed
admissible.
Local sources were
unable to make direct contact with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.72 |
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UK Pound |
1 |
Rs.84.81 |
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Euro |
1 |
Rs.67.60 |
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%)