MIRA
INFORM REPORT
|
Report Date : |
24.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TOHID FOR IMPORT & EXPORT |
|
|
|
|
Registered Office : |
Insurance
Building, 4th Floor, Office No. 42, 329 Port Said Street, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Com. Reg. No.: |
134842, Ghardaga |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Import and Export of Cosmetics, Beauty
Products, Medical Supplies and Pharmaceuticals |
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$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : TOHID FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2000
Commercial Registration Number : 134842, Ghardaga
Invested Capital : £E 100,000
Total Workforce : 9
Activities :
Import and export of cosmetics, beauty products,
medical supplies and
pharmaceuticals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
TOHID
FOR IMPORT & EXPORT
ADDRESS
Registered & Physical Address
Building : Insurance
Building, 4th Floor, Office No. 42
Street : 329
Port Said Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 23960280
Facsimile : (20-2) 23920879
Mobile : (20-11) 1142300 / (20-10) 4642885
Email : eltaweehid_importexport@yahoo.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
·
Mohamed
Mostafa Abdul Rahman Proprietor
& General Manager
·
Adel
Abdul Salam Abu Ragibah Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2000
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 134842, Ghardaga
Import Licence No. : 51250 (cosmetic and beauty products) & 201 (medical
supplies and pharmaceuticals)
Export Licence No. : 66340
Invested Capital
: £E 100,000
Mr Mohamed Mostafa Abdul Rahman is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the import
and export of cosmetics, beauty products, medical supplies and pharmaceuticals.
Import
Countries: Lebanon, Jordan
and India
Sole Agents for:
·
Diana
Cosmetics Lebanon
·
Beauty
Secret Jordan
Export
Countries: Sudan
Operating Trend: Steady
Subject has a
workforce of 9 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 27,500,000 £E 30,000,0000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mohamed Mostafa Abdul
Rahman, 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
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.72 |
|
UK Pound |
1 |
Rs.84.81 |
|
Euro |
1 |
Rs.67.60 |
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%)