MIRA
INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL DUTY FREE TRADING AND AGENCIES SAE |
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Registered Office : |
11, Road 12, Maadi, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1983 |
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Com. Reg. No.: |
24690 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of Chocolate, Alcohol, Watches, Jewellery,
Perfumes and Toys. |
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$ 500,000 |
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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 – December 31st, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SUMMARY
Company Name :
INTERNATIONAL DUTY FREE TRADING AND AGENCIES SAE
Country of Origin :
Legal Form :
Egyptian Joint Stock Company
Start Date :
1983
Registration Date :
2007
Commercial Registration Number : 24690,
Cairo
Tax Card Number :
261-981-749
Issued Capital :
£E 1,000,000
Paid up Capital :
£E 1,000,000
Total Workforce :
150
Activities :
Distributors of chocolate, alcohol, watches, jewellery, perfumes and toys.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 500,000
COMPANY NAME
INTERNATIONAL DUTY FREE TRADING AND AGENCIES SAE
ADDRESS
Registered
& Physical Address
Street :
11 Street No. 12
Area :
Maadi
Town :
Country :
Telephone :
(20-2) 23580777 / 23581166
Facsimile :
(20-2) 23584411
Email : nohasalah@idfta.com.eg
Premises
Subject operates from a medium sized suite of offices that
are rented and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
Street No. 9 Warehouse
premises
Maadi
KEY PRINCIPALS
Name Position
Kamal Saleh Mohamed Toulan Chairman
Nevin El Sabaa Director
Sherif Kamal Saleh Mohamed Toulan Director
Dalia Kamal Saleh Mohamed Toulan Director
Mohamed Farag Finance
Manager
Tharwat Ashour Sales
Manager
Mohamed Mounir Marketing Manager
LEGAL FORM & OWNERS
Date of Establishment : 1983,
however subject was registered in 2007
Legal Form :
Egyptian Joint Stock Company
Commercial Reg. No. :
24690,
Tax Card No. :
261-981-749
Issued Capital : £E
1,000,000
Paid up Capital :
£E 1,000,000
Name
of Shareholder (s) Percentage
Kamal Saleh Mohamed Toulan 50%
Nevin El Sabaa 40%
Sherif Kamal Saleh Mohamed Toulan 5%
Dalia Kamal Saleh Mohamed Toulan 5%
OPERATIONS
Activities: Engaged in the import and distribution
of chocolate, alcohol, watches, jewellery, perfumes and toys.
Import Countries:
Brand Names: TOBLERONE and LINDT
Operating Trend: Steady
Subject has a workforce of 150 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given
below:
Currency:
Year Ending 31/12/09: Year Ending 31/12/10:
Total Sales US$
13,754,000 US$ 14,892,975
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
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
Commercial International Bank (CIB)
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 |
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US Dollar |
1 |
Rs.45.20 |
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|
1 |
Rs.73.51 |
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Euro |
1 |
Rs.64.76 |
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.