MIRA INFORM REPORT

Report Date :

14.12.2011

IDENTIFICATION DETAILS

Name :	FLYING HORSE EGYPTIAN ESTABLISHMENT

Registered Office :	El Bourge Building, 19^th Floor 15A Saray El Qobba Square Saray El Qobba Cairo

Country :	Egypt

Financials (as on) :	31.12.2010

Date of Incorporation :	12.02.2000

Com. Reg. No.:	9393, Cairo

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of stretch film, sticky tape, tin foil and aluminium foil.

No. of Employees :	15

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Egypt

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

SUMMARY

Company Name : FLYING HORSE EGYPTIAN ESTABLISHMENT

Country of Origin : Egypt

Legal Form : Sole Proprietorship

Registration Date : 12^th February 2000

Commercial Registration Number : 9393, Cairo

Invested Capital : £E 70,000

Total Workforce : 15

Activities : Distributors of stretch film, sticky tape, tin foil and aluminium foil.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 150,000

Person Interviewed : Atef Ahmed Bayoumi, Commercial Manager

COMPANY NAME

FLYING HORSE EGYPTIAN ESTABLISHMENT

ADDRESS

Registered & Physical Address

Building : El Bourge Building, 19^th Floor

Street : 15A Saray El Qobba Square

Area : Saray El Qobba

Town : Cairo

Country : Egypt

Telephone : (20-2) 24524465 / 24522206 / 22594923

Facsimile : (20-2) 22597319

Mobile : (20-100) 5080033 / 8551330

Premises

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

KEY PRINCIPALS

Name Position

· Abdulrahman Ahmed Bayoumi Proprietor & General Manager

· Saif El Islam Ahmed Bayoumi Assistant General Manager

· Atef Ahmed Bayoumi Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 12^th February 2000

Legal Form : Sole Proprietorship

Commercial Reg. No. : 9393, Cairo

Invested Capital : £E 70,000

Mr Abdulrahman Ahmed Bayoumi is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of stretch film, sticky tape, tin foil and aluminium foil.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 15 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 7,660,000 £E 8,100,000

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

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

BANKERS

· Arab Bank Plc

PO Box: 68

Cairo

Tel: (20-2) 23029069 / 23029070

Fax: (20-2) 23029068

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.53.40
UK Pound	1	Rs.83.32
Euro	1	Rs.70.44

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
--	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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.