|
Report Date : |
12.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SKY CHEM CO |
|
|
|
|
Registered Office : |
67 El Tayyar
Ahmed Soud Abou Aly, Bolky, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
2002 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Distributors of chemicals |
|
|
|
|
No. of Employees : |
08 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : SKY CHEM CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2002
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 8
Activities : Distributors of chemicals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Sayed Bondog, Managing Partner
SKY CHEM CO
Registered &
Physical Address
Street :
67 El Tayyar Ahmed Soud Abou Aly
Area : Bolky
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5413213
Facsimile : (20-3) 5413213
Mobile : (20-122) 7982509
Email : sky-chem@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Alexandria.
Name Position
·
Sayed
Bondog Managing
Partner
·
Hesham
Ali Hussain Partner
Date of Establishment : 2002
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Partner
(s)
·
Sayed
Bondog
·
Hesham
Ali Hussain
Activities: Engaged in the import and distribution of
chemicals, including Ethylene Diamine Tetra Acetic Acid,
Erythorbic Acid, Coconut fatty acid,
Vanilla, Tri Calcium phosphate, Lactose (mono & amp;
anhydrous),
Citric acid (mono & amp; anhydrous).
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 8 employees.
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 7,220,000 £E 7,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
International Bank
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
No complaints
regarding subject’s payments have been reported.
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.55.24 |
|
UK Pound |
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.