MIRA INFORM REPORT
|
Report Date : |
17.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAKRO CASH & CARRY EGYPT |
|
|
|
|
Registered Office : |
HSBC Building, 3rd
Floor, Office No. 306, Corniche El Nile Street, Maadi, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Year of Establishment : |
2008 |
|
|
|
|
Legal Form : |
Branch of a Foreign Registered Corporation |
|
|
|
|
Line of Business : |
Operators of hypermarkets |
|
|
|
|
No. of Employees
: |
400 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 200,000 |
|
|
|
|
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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Egypt |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company Name : MAKRO CASH & CARRY EGYPT
Country of Origin : Germany
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 2008
Total Workforce : 400
Activities : Operators of hypermarkets
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY
NAME
MAKRO CASH &
CARRY EGYPT
company ADDRESS
Registered &
Physical Address
Building : HSBC Building, 3rd
Floor, Office No. 306
Street : Corniche El Nile Street
Area : Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 27688200
Facsimile : (20-2) 27688490
Email : nevine.fathy@makro.com.eg
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Francois
Oliver General
Manager
·
Christian
Wosnik Finance
Manager
·
Tariq
Shallan Human
Resources Manager
·
Nivine
Fathy Administration
Executive
LEGAL FORM & OWNERS
Date of Establishment : 2008
Legal Form :
Subject is the Egyptian
registered branch of Metro Group AG, a Limited Liability Company incorporated
in Germany.
Makro Cash & Carry Egypt in
Egypt, operates as a Branch of a Foreign Registered
Corporation with its
registered office located at the following address:
Metro Group AG
Dusseldorf
Germany
A Branch of a Foreign Registered
Corporation is not a legal entity in its own right.
Responsibility for payments lays
in the hands of the company where it is originally
registered. It is basically an extension
of an existing company abroad and does not require a local partner or sponsor.
Under these circumstances, we
strongly advise that any international trade credit should
only be written under the name
of the main company where the subject holds its registered office, in this case
Germany.
OPERATIONS
Activities: Engaged as operators of hypermarkets,
trading food and non-food products.
Subject has stores in El Salam City, Cairo and Kaliubeya.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 400 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
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
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
|
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.