MIRA
INFORM REPORT
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Report Date : |
18.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SISIC IMPORT & EXPORT AGENCIES |
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Registered Office : |
Ahmed
Maher Street, Bahwani Square, PO Box 289, El Mahalla El Kubra |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Export of Yarn and
Products |
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 : SISIC IMPORT & EXPORT AGENCIES
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1994
Invested Capital : £E 70,000
Total Workforce : 15
Activities : Import and export of yarn and products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
Person Interviewed : Omima El Nahas, Administrative Secretary
COMPANY NAME
SISIC
IMPORT & EXPORT AGENCIES
ADDRESS
Registered & Physical Address
Street : Ahmed
Maher Street
Area : Bahwani
Square
PO Box : 289
Town : El
Mahalla El Kubra
Country : Egypt
Telephone : (20-40) 2237967
Facsimile : (20-40) 2237967
Mobile : (20-18) 2470012
Email : corpsisic_sisic2007@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of El Mahalla El Kubra.
KEY PRINCIPALS
Name Position
·
Mahmoud
Mohamed El Embabi Proprietor
& General Manager
·
Omima
El Nahas Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Sole Proprietorship
Invested Capital
: £E 70,000
Mr Mahmoud Mohamed El Embabi is the sole
proprietor of the business.
AFFILIATED COMPANIES
·
El
Embabi Brothers
El
Mahalla El Kubra
OPERATIONS
Activities: Engaged in the import
and export of yarn and products.
Import
Countries: India
Operating Trend: Steady
Subject has a
workforce of 15 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 6,850,000 £E 7,400,000
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
Abdel Hai Khalil Street
El Mahalla El Kubra
Tel: (20-40) 2230565 / 2245127
Fax: (20-40) 2234065
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.83 |
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UK Pound |
1 |
Rs.84.90 |
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Euro |
1 |
Rs.67.26 |
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%)