MIRA
INFORM REPORT
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Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
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Name : |
CBC EGYPT |
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Registered Office : |
18 El Rafaie Square Dokki, Giza PO Box 133 Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1987 |
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Com. Reg. No.: |
72593, Giza |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of foodstuff chemicals, refrigeration equipment, medical chemicals, inks, soya beans and milk 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$ 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 |
SUMMARY
Company Name : CBC EGYPT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1987
Commercial Registration Number : 72593, Giza
Tax Card Number : 100-063-322
Invested Capital : £E 250,000
Total Workforce : 25
Activities : Distributors of foodstuff chemicals, refrigeration equipment, medical
chemicals, inks, soya beans and milk products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 350,000
COMPANY NAME
CBC EGYPT
ADDRESS
Registered & Physical Address
Street : 18 El Rafaie
Square
Area : Dokki, Giza
PO Box : 133
Town : Cairo
Country : Egypt
Telephone : (20-2) 37611577
/ 33364001 / 33364002
Facsimile : (20-2)
33359426
Email : info@cbc-egypt.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.
KEY PRINCIPALS
Name Position
· Francis Abadir
Shehata Proprietor
· Michael Francis
Abadir Shehata General
Manager
· Albert Makram
Shehata Finance
Manager
· Amir Samih Amin Marketing
Manager
· Medhat Abdou
Hassanein Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1987
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 72593, Giza
Tax Card No. :
100-063-322
Invested Capital : £E 250,000
Mr Francis Abadir Shehata is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of foodstuff chemicals,
refrigeration equipment, medical chemicals, inks, soya beans and milk products.
Import Countries : United States of America, Netherlands, Germany,
Italy, India, China and Indonesia.
Agents for: Connell Bros Co, ABS Global, Hercules Int'l, ADM, Orffa, Jan Dekker,
PMC Group and Schils
Operating Trend: Steady
Subject has a workforce of 25 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
15,200,000 £E
16,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Banque du Caire SAE
22 Adly Street
PO Box: 1495
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
·
Bank of Alexandria
49 Kasr El Nile
Street
Cairo
Tel:
(20-2) 24824056 / 24836073
Fax:
(20-2) 24837468
·
Egyptian American Bank
4 & 6 Hassan Sabri
Zamalek
PO Box: 1825
Cairo
Tel: (20-2) 33416150
Fax: (20-2) 33420265
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the business 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.45.61 |
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|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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 |
-- |
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.