MIRA INFORM REPORT

Report Date :

17.12.2011

IDENTIFICATION DETAILS

Name :	BASAL FACTORY FOR AGRO PROCESSING

Registered Office :	Industrial Zone, Lot No. 12/4, Damietta City

Country :	Egypt

Date of Incorporation :	16.03.2010

Legal Form :	Sole Proprietorship

Line of Business :	Processing and packaging of pulses and seeds

No. of Employees :	25 persons

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	US$ 50,000

Status :	Small Company

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^th, 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 : BASAL FACTORY FOR AGRO PROCESSING

Country of Origin : Egypt

Legal Form : Sole Proprietorship

Registration Date : 16^th March 2010

Invested Capital : £E 150,000

Total Workforce : 25

Activities : Processing and packaging of pulses and seeds.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 50,000

Person Interviewed : Rami Refaat, Commercial Manager

COMPANY NAME

BASAL FACTORY FOR AGRO PROCESSING

company ADDRESS

Registered & Physical Address

Area : Industrial Zone, Lot No. 12/4

Town : Damietta City

Country : Egypt

Telephone : (20-57) 2401982 / 2401987

Facsimile : (20-57) 2401946

Email : admiralfreezone@yahoo.com

Premises

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Damietta City.

KEY PRINCIPALS

Name Position

· Gamal Abdulrahim Basal Proprietor & General Manager

· Rami Refaat Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 16^th March 2010

Legal Form : Sole Proprietorship

Invested Capital : £E 150,000

Mr Gamal Abdulrahim Basal is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the processing and packaging of pulses and seeds.

Import Countries: Europe and the Far East.

Subject has a workforce of 25 employees.

FINANCIAL DATA

Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside 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

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.81
UK Pound	1	Rs.82.00
Euro	1	Rs.68.81

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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