MIRA
INFORM REPORT
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Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SHERITEC |
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Registered Office : |
El Shorta Tower, 6th Floor, Apartment 61 9 Hussein Fahmy Street
Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1997 |
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Com. Reg. No.: |
142809, Alexandria |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and distribution of cables, valves, explosion proofing materials, fire fighting systems, equipment and fire fighting pumps. |
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 |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Egypt |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : SHERITEC
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1997
Commercial Registration Number : 142809, Alexandria
Partners Capital : £E 40,000
Total Workforce : 10
Activities : Import and distribution of cables, valves, explosion proofing materials, fire fighting systems, equipment and fire fighting pumps.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
SHERITEC
ADDRESS
Registered & Physical Address
Building : El Shorta
Tower, 6th Floor, Apartment 61
Street : 9 Hussein
Fahmy Street
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4958040
Facsimile : (20-3) 4958040
Mobile : (20-12)
3485073 / 7488318 / (20-11) 2211738
Email : info@sheritec.com
/ sheritec@yahoo.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Alexandria.
Branch Office (s)
Location Description
· 25 Sabet Ibn Kara
Street Rented
sales office
El Wardian, Mina
El Bassal
Alexandria
Tel: (20-3)
4438312
KEY PRINCIPALS
Name Position
· Emad Yousef Abdul
Majeed Shareef Managing
Partner
· Alaa Eddine Yousef
Abdul Majeed Shareef Partner
LEGAL FORM & OWNERS
Date of Establishment : 1997
Legal Form : General
Partnership
Commercial Reg.
No. : 142809, Alexandria
Import Licence No. : 27712
Partners Capital : £E 40,000
Name of Partner (s)
· Emad Yousef Abdul
Majeed Shareef
· Alaa Eddine Yousef
Abdul Majeed Shareef
OPERATIONS
Activities: Engaged in the import and distribution of electrical and mechanical
products including cables, valves,
explosion proofing materials, fire fighting systems, equipment and fire
fighting pumps.
Import Countries: India, Italy and Spain.
International Suppliers:
· Comet Cosmos India
· Chenitherm India
· Dux Electrical India
· Horizon India
· Mehta Pipe &
Tube India
· Cosime Italy
· Bombas Edeal Spain
Operating Trend: Steady
Subject has a workforce of 10 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E
12,500,000 £E
13,000,000
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
177 Mostafa Kamel
Street
Alexandria
Tel: (20-3)
5701930
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
RATING EXPLANATIONS
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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 |
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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 |
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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-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.