MIRA INFORM
REPORT
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Report Date : |
02.12.2011 |
IDENTIFICATION DETAILS
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Name : |
AL WATANEYA FOR TRADE & CHEMICAL |
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Registered Office : |
40 Ebn Kotyba Street Nasr City , El Zohor Area Cairo 11371 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1978 |
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Com. Reg. No.: |
3923 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of chemicals and dyeing materials for textiles. |
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No. of Employees : |
15 |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : AL WATANEYA FOR TRADE & CHEMICAL
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Start Date : 1978
Registration Date : 23rd April 1997
Commercial Registration Number : 3923
Tax Card Number : 205-774-598
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 15
Activities : Distributors of chemicals and dyeing materials for textiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Shawkat Sabr Mussalami Mabrook, Managing Partner
COMPANY NAME
AL WATANEYA FOR TRADE & CHEMICAL
ADDRESS
Registered & Physical Address
Street : 40 Ebn Kotyba Street
Area : Nasr City , El Zohor Area
Town : Cairo 11371
Country : Egypt
Telephone : (20-2) 22604193
Facsimile : (20-2) 22613395
Mobile : (20-12) 3430600 / (20-10) 1950260
Email : shawkatmabrook@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Cairo.
Branch Offices
Location Description
· 10th of
Ramadan City Factory
premises
KEY PRINCIPALS
Name Position
· Shawkat Sabr Mussalami Mabrook Managing
Partner
· Shehab Eddine Sabr Mussalami Mabrook Partner
· Sabr Mussalami Mabrook Partner
LEGAL FORM & OWNERS
Date of
Establishment : 1978, however subject
was registered on 23rd April 1997
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 3923
Tax Card No. : 205-774-598
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Shareholder (s)
· Shawkat Sabr Mussalami Mabrook
· Shehab Eddine Sabr Mussalami Mabrook
· Sabr Mussalami Mabrook
AFFILIATED COMPANIES
· Al Wataneya For Chemical Industries
Industrial Zone A6, Block No. 23
10th of Ramadan City
OPERATIONS
Activities: Engaged in the import and distribution of chemicals and dyeing materials for textiles.
Import Countries: Europe and the Far East.
International Suppliers:
· Kisco Ltd South Korea
Operating Trend: Steady
Subject has a workforce of 15 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 Sales £E
7,100,000 £E
7,800,000
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
Abbas El Akad
Branch
Nasr City
Cairo
Tel: (20-2)
22638072 / 226380711
Fax: (20-2)
22402369
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
The above credit figure is higher than transactions previously seen and
a measure of caution would be prudent.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.65 |
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|
1 |
Rs.81.06 |
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Euro |
1 |
Rs.69.51 |
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.