MIRA INFORM
REPORT
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Report Date : |
09.08.2011 |
IDENTIFICATION DETAILS
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Name : |
AGRON AGRICULTURAL DEVELOPMENT LTD |
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Registered Office : |
8 Sesostress
Street, El Korba, Heliopolis, Cairo 11131 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
16326 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of agricultural products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Egypt |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
SUMMARY
Company Name : AGRON AGRICULTURAL DEVELOPMENT LTD
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2003
Commercial Registration Number : 16326
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 35
Activities : Distributors of agricultural products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AGRON AGRICULTURAL
DEVELOPMENT LTD
company ADDRESS
Registered & Physical Address
Street : 8 Sesostress Street
Area : El Korba, Heliopolis
Town : Cairo 11131
Country : Egypt
Telephone : (20-2) 26903321
Facsimile : (20-2) 26903321
Mobile : (20-12) 2193850 / 1111036
Email : info@fruitexegypt.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
·
8
Aphalaton Street Office
premises
Heliopolis
Cairo
Tel: (20-2) 22903030
Fax: (20-2) 22904040
·
Km 86,
Cairo Alexandria Desert Road Warehouse
premises
Cairo
KEY PRINCIPALS
Name Position
·
Husam
Eldin Ghorab Awad Managing
Partner
·
Najat
Khalil Partner
·
Farid Naguib Bahry Commercial
Manager
·
Gamal Arafa Finance
Manager
·
Moaz
Abdallah Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2003
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 16326
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Shareholder
(s) Percentage
·
Husam
Eldin Ghorab Awad 90%
·
Najat
Khalil 10%
OPERATIONS
Activities: Engaged in the import and distribution of
agricultural products, including fertilizers, pesticides and
insecticides.
Import
Countries: Europe and the
United States of America.
International
Suppliers:
·
Agra
Quest United States of
America
·
ACP Spain
Brand Names: KEL KAGO, KELP, PLAASKEM, OMNIA and ADOB
Operating Trend: Steady
Subject has a
workforce of 35 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 Sale £E 14,250,600 £E 18,025,780
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.96 |
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UK Pound |
1 |
Rs.73.94 |
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Euro |
1 |
Rs.64.56 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.