MIRA INFORM REPORT

 

 

Report Date :

09.08.2012

 

IDENTIFICATION DETAILS

 

Name :

KING TOOLS CO

 

 

Registered Office :

2 Ghaly Lane, Attaba, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

1997

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Distributors of hand and power tools and industrial equipment

 

 

No. of Employees :

12

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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                                     : KING TOOLS CO

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 1997

Issued Capital                                        : £E 100,000

Paid up Capital                                      : £E 100,000

Total Workforce                                     : 12

Activities                                               : Distributors of hand and power tools and industrial equipment

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

COMPANY NAME

 

KING TOOLS CO

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 2 Ghaly Lane

Area                 : Attaba

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 25934269

Facsimile          : (20-2) 27865528

Mobile               : (20-127) 6161017

Email                : essam_tools_india@hotmail.com

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Cairo.

 

 

KEY PRINCIPALS

 

            Name                                                                                       Position

 

Essam Mohamed Ali                                                                              Managing Partner

 

Khalid Mohamed Ali                                                                               Partner

 

Magdi Mohamed Ahmed                                                             Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1997

 

Legal Form                  : Limited Liability Partnership

 

Issued Capital              : £E 100,000

 

Paid up Capital            : £E 100,000

 

Name of Partner (s)

 

Essam Mohamed Ali

 

Khalid Mohamed Ali

 

 

OPERATIONS

 

Activities:                     Engaged in the import and distribution of hand and power tools and industrial equipment.

 

Import Countries:         Europe and the Far East.

 

Operating Trend:         Steady

 

Subject has a workforce of 12 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/10:              Year Ending 31/12/11:

 

Total Sales                                £E 10,470,000                           £E 10,810,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

Banque du Caire SAE

22 Adly Street

PO Box: 1495

Cairo

Tel: (20-2) 33904554

Fax: (20-2) 33908992

 

 

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

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.00

Euro

1

Rs.68.31

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.