MIRA INFORM REPORT

 

 

Report Date :           

03.05.2011

 

IDENTIFICATION DETAILS

 

Name :

MOSLEM BICYCLES

 

 

Registered Office :

Gado Street, Off El Sakkaya, Menoufeya

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1999

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Import and distribution of bicycles and related spare parts

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

 

Maximum Credit Limit :

US$ 150,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : MOSLEM BICYCLES

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Start Date                                             : 1990

Registration Date                                   : 2000

Issued Capital                                        : £E 50,000

Paid up Capital                                      : £E 50,000

Total Workforce                                     : 15

Activities                                               : Import and distribution of bicycles and related spare parts.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : El Sayed Ahmed Marzouk El Temna, Partner

 

COMPANY NAME

 

MOSLEM BICYCLES

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Gado Street, Off El Sakkaya

Town                 : Menoufeya

Country             : Egypt

Telephone         : (20-48) 3663793 / 3666793

Facsimile          : (20-48) 3666436

Mobile               : (20-12) 6974633 / 6974673

Email                : eltemna2000@yahoo.com

 

Premises

Subject operates from a small suite of offices and a showroom with storage facilities that are rented and located in the Central Business Area of Menoufeya.

 

Branch Office

 

     Location                                                                              Description

 

·       Port Saeed Street                                                                 Office premises

Menoufeya

Tel: (20-12) 7818360 / (20-16) 7999862

 

 

KEY PRINCIPALS

 

     Name                                                                                  Position

 

·       Nabil Ahmed Marzouk El Temna                                             Managing Partner

 

·       Mohamed Ahmed Marzouk El Temna                                      Partner

 

·       El Sayed Ahmed Marzouk El Temna                                       Partner

 

·       Jalal El Sayed Ahmed Marzouk El Temna                               General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1990, however subject was registered in 2000

 

Legal Form                  : Limited Liability Partnership

 

Issued Capital              : £E 50,000

 

Paid up Capital            : £E 50,000

 

Name of Shareholder (s)

 

·       Nabil Ahmed Marzouk El Temna

 

·       Mohamed Ahmed Marzouk El Temna

 

·       El Sayed Ahmed Marzouk El Temna

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of bicycles and related spare parts, such as tyres, inner tubes and pumps. Subject is ISO 9002 accredited.

 

Import Countries: India and China.

 

International Suppliers:

 

·       Atlas            India                            

 

Brand Names: ATLAS

 

Operating Trend: Steady

 

Subject has a workforce of 15 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 4,000,000                             £E 4,350,000

 

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 for Development

El Borsa El Gedida Street

Cairo

Tel: (20-2) 33921529

Fax: (20-2) 33905681

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.73.89

Euro

1

Rs.65.57

 

 

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

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

----

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.