MIRA INFORM REPORT

Report Date :

21.04.2011

IDENTIFICATION DETAILS

Name :	EL EMAN FOR IMPORTS & EXPORTS

Registered Office :	Abow Atwa, Shop No. 11, Ismailia

Country :	Egypt

Financials (as on) :	31.12.2010

Year of Establishment :	2001

Com. Reg. No.:	44295, Ismailia

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of meat, poultry and seafood

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : EL EMAN FOR IMPORTS & EXPORTS

Country of Origin : Egypt

Legal Form : Sole Proprietorship

Registration Date : 2001

Commercial Registration Number : 44295, Ismailia

Invested Capital : £E 25,000

Total Workforce : 8

Activities : Distributors of meat, poultry and seafood.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 150,000

COMPANY NAME

EL EMAN FOR IMPORTS & EXPORTS

company ADDRESS

Registered & Physical Address

Location : Abow Atwa, Shop No. 11

Town : Ismailia

Country : Egypt

Telephone : (20-64) 3452645

Facsimile : (20-64) 3452645

Mobile : (20-10) 0651510

Email : yousifelmenay123@hotmail.com

Premises

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

KEY PRINCIPALS

Name Position

· Yousif Abdul Fattah El Menay Proprietor & General Manager

LEGAL FORM & OWNERS

Date of Establishment : 2001

Legal Form : Sole Proprietorship

Commercial Reg. No. : 44295, Ismailia

Invested Capital : £E 25,000

Mr Yousif Abdul Fattah El Menay is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of meat, poultry and seafood.

Import Countries: Europe and the Far East.

International Suppliers:

· Riso Francisco (Group Riso) Spain

· Macvigo Seafood Industries Spain

· G L Trading South Korea

Operating Trend: Steady

Subject has a workforce of 8 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: Egyptian Pound (£E)

Year Ending 31/12/09: Year Ending 31/12/10:

Total Sales £E 6,800,000 £E 7,100,000

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

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

BANKERS

· Egyptian Arab Land Bank

Orabi Square

PO Box: 199

Ismailia

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 business is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.38
UK Pound	1	Rs.72.56
Euro	1	Rs.63.92

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

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.