MIRA INFORM
REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SCIENTECH CO FOR IMPORT AND EXPORT |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1989 |
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Com. Reg. No.: |
588, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject operates through several divisions Chocolate Division and Oilfield Machinery Division |
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 |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 : SCIENTECH CO FOR IMPORT AND EXPORT
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1989
Commercial Registration Number : 588,
Import Licence Number : 6327
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 45
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Salwa Abdul Hamid, Administration Manager
COMPANY NAME
SCIENTECH CO FOR IMPORT AND EXPORT
company ADDRESS
Registered & Physical Address
Street :
Area : Smouha
Town :
Country :
Telephone : (20-3) 9578416 / 9575985 / 9576186
Facsimile : (20-3) 4260665
Email : scientech@scientechco.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Alexandria.
Branch Office (s)
Location Description
·
Amerya
Free Zone Office
premises
Tel: (20-3) 4542445
·
288
Street No. 11 Office
premises
Maadi
Tel: (20-2) 25162801
Fax: (20-2) 25162886
KEY PRINCIPALS
Name Position
·
Hussam
Rashad Sakar Managing
Partner
·
Ayman
Rashad Sakar Partner
·
Rashad
Sakar Partner
·
Mohamed
Ali Purchasing
Manager
·
Amr El
Nafarawy Sales
Manager
·
Salwa
Abdul Hamid Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1989
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 588,
Import Licence No. : 6327
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder
(s)
·
Hussam
Rashad Sakar
·
Ayman
Rashad Sakar
·
Rashad
Sakar
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
·
Chocolate
Division
Engaged
in the import and distribution of chocolate and coco powder and raw materials
for the confectionery industry.
·
Oilfield
Machinery Division
Engaged in the import
and distribution of gas and oilfield equipment and machinery.
Import
Countries: Europe and the
International
Suppliers:
·
Natra
·
Coca
House
·
Operating Trend: Steady
Subject has a
workforce of 45 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E 13,275,000 £E 13,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.09 |
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|
1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.43 |
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 |
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 |
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.