MIRA INFORM REPORT
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Report Date : |
19.12.2011 |
IDENTIFICATION DETAILS
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Name : |
HYPER ONE |
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Registered Office : |
Entrance No. 1,
El Sheikh Zayed City, 6th of October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2005 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Operators of a hypermarket |
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No. of Employees
: |
1200 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 400,000 |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Egypt |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
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 : HYPER ONE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2005
Issued Capital : £E 250,000,000
Paid up Capital : £E 250,000,000
Total Workforce : 1,200
Activities : Operators of a hypermarket
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
COMPANY NAME
HYPER ONE
company ADDRESS
Registered &
Physical Address
Street : Entrance No. 1
Area : El Sheikh Zayed City
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38504778
Facsimile : (20-2) 38504820 / 38504821
Mobile : (20-100) 2406121
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of 6th of October City.
KEY PRINCIPALS
Name Position
·
Mohamed
El Hawary Chairman
·
Mohamed
Kamal General
Manager
·
Hussein
Fawzy Financial
Manager
·
Mohamed
El Sherif Marketing
Manager
·
Elhamy
Rashed Public
Relations Manager
·
Sayed
Abd El Azim Human
Resources Manager
·
Ashraf
Shaaban Office
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 250,000,000
Paid up Capital : £E 250,000,000
Name of Shareholder
(s)
·
Hawary
Group
Cairo
·
Mohamed
El Hawary
OPERATIONS
Activities: Engaged as operators of a hypermarket.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of approximately 1,200 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 65,000,000 £E 78,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Export
Development Bank of Egypt
Plot 3/1
4th Industrial Region
Giza
6th of October City
Tel: (20-2) 38330577 / 38330599
Fax: (20-2) 38330570 / 38330551
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
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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 |
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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 |
|
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 |
|
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NB |
New Business |
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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.