MIRA
INFORM REPORT
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Report Date : |
25.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANDALOSSIA FOR IMPORT AND EXPORT COMPANY |
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Registered Office : |
Beta
Golf House Building, Building No. 1, El Obour City, El Keliobeya, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
32910, Ismailia |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Seafood
and Fruits |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ANDALOSSIA FOR IMPORT AND EXPORT COMPANY
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2002
Commercial Registration Number : 32910, Ismailia
Invested Capital : £E 100,000
Total Workforce : 25
Activities : Import and distribution of seafood and fruits
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
ANDALOSSIA FOR
IMPORT AND EXPORT COMPANY
ADDRESS
Registered & Physical Address
Building : Beta Golf
House Building, Building No. 1
Area : El
Obour City, El Keliobeya
Town : Cairo
Country : Egypt
Telephone : (20-2) 49210175
Facsimile : (20-2) 49210175
Mobile : (20-10) 8880351
Email : sales@andalossia.net
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Cairo.
Branch Office
(s)
Subject operates branches located in Fanar Al Mahya, Said
City, Ismailia, Alexandria and Damietta.
KEY PRINCIPALS
Name Position
·
Abdullah
Abu El Khair Proprietor
& General Manager
·
Mostafa
Mohamed Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 32910, Ismailia
Invested Capital
: £E 100,000
Mr Abdullah Abu El Khair is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the
import and distribution of seafood including shrimps, sole fish, squid tubes,
pangasuis
fillet, lobster,
mackerel and mullet fish, as well as fruits such as pineapple, apple, pear and
banana.
Import
Countries: China, Thailand, Vietnam, India, Pakistan, Iran, Yemen,
United Arab Emirates, Saudi Arabia,
Indonesia, Cuba, Panama, Ecuador, Chile, Italy, Spain,
Taiwan, Japan, Cameron, Nigeria and Angola
Operating Trend: Steady
Subject has a
workforce of 25 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 25,800,000 £E 27,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Abdullah Abu El Khair,
Proprietor.
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.46.25 |
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UK Pound |
1 |
Rs.85.92 |
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Euro |
1 |
Rs.68.11 |
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%)