MIRA INFORM REPORT

 

Report Date :

28.02.2012

 

IDENTIFICATION DETAILS

 

Name :

EL TAKADOM ADVANCED CO FOR TRADING

 

 

Registered Office :

6 Al Obour Building, 8th Floor, Flat No. 5 Salah Salem Road Nasr City Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

2002

 

 

Com. Reg. No.:

350261, Cairo

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Import and distribution of chemicals and related raw materials, as well as general foodstuff products and tea

 

 

No. of Employees :

50

 

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

 

Maximum Credit Limit :

US$ 400,000

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 – 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                                     : EL TAKADOM ADVANCED CO FOR TRADING

Country of Origin                                    : Egypt

Legal Form                                            : General Partnership

Registration Date                                   : 2002

Commercial Registration Number                        : 350261, Cairo

Partners Capital                                     : £E 100,000

Total Workforce                                     : 50

Activities                                               : Import and distribution of chemicals and related raw materials, as well as general foodstuff products and tea

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 400,000

Person Interviewed                                 : Mahmood Hassan Shehada, Managing Partner

COMPANY NAME

 

EL TAKADOM ADVANCED CO FOR TRADING

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : 6 Al Obour Building, 8th Floor, Flat No. 5

Street               : Salah Salem Road

Area                 : Nasr City

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 22604607 / 24036438

Facsimile          : (20-2) 22604607

Mobile               : (20-10) 1061788

Email                : eltakadom@yahoo.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Suburban Business Area of Cairo.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mahmood Hassan Shehada                                                               Managing Partner

 

·       Abdullah Abdul Fattah                                                                       Partner

 

·       Mohamed Shoman                                                                            General Manager

 

·       Ihab Geyatha                                                                                    Assistant General Manager

 

·       Ahmed Younes                                                                                 Finance Manager

 

·       Haytham Oun                                                                                   Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2002

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 350261, Cairo

 

Partners Capital           : £E 100,000

 

Name of Partner (s)

 

·       Mahmood Hassan Shehada

 

·       Abdullah Abdul Fattah

 

 

AFFILIATED COMPANIES

 

·       El Jamhouria Tea Factory

Mina El Qamah

Egypt

 

·       El Takadom Tea Factory

Cairo

 

·       El Takadom Food Industries

Cairo

    

 

OPERATIONS

 

Activities: Engaged in the import and distribution of chemicals and related raw materials, as well as general foodstuff products and tea.

 

Import Countries: India and Europe

 

Brand Names: El JAMHOURIA

 

Operating Trend: Steady

 

Subject has a workforce of 50 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 64,500,000                           £E 66,000,000

 

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

 

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

 

 

BANKERS

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              August 2006

Credit amount                                        100,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

GENERAL COMMENTS

 

Established in 2002, El Takadom Advanced Co For Trading specialises in the import and distribution of chemicals and related raw materials.

 

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

Indian Rupees

US Dollar

1

Rs.49.05

UK Pound

1

Rs.77.78

Euro

1

Rs.65.89

 

 

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.