MIRA INFORM REPORT
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Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
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Name : |
EGYPTIAN GROUP FOR TRADING & CONTRACTING |
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Registered Office : |
Building No. 5515,
Fourth District, Elhadaba Elwosta Mokatam, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.12.2000 |
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Com. Reg. No.: |
6282, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of general foodstuffs |
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No. of Employees
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20 persons |
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 30th, 2011
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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 : EGYPTIAN GROUP FOR TRADING & CONTRACTING
Also Known As : MAHMOUD EL SHAFIE & PARTNER
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 10th December 2000
Commercial Registration Number : 6282, Cairo
Tax Card Number : 200-205-153
Issued Capital : £E 175,000
Paid up Capital : £E 175,000
Total Workforce : 20
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mostafa Itrees, Administration Executive
COMPANY NAME
EGYPTIAN GROUP FOR TRADING & CONTRACTING
ALSO KNOWN AS
MAHMOUD EL SHAFIE & PARTNER
company ADDRESS
Registered &
Physical Address
Location : Building No. 5515, Fourth District
Area : Elhadaba Elwosta Mokatam
Town : Cairo
Country : Egypt
Telephone : (20-2) 27270479
Facsimile : (20-2) 27270476
Email : mahmoud@egyptc.net
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Mahmoud
Mohamed Hassan El Shafie Managing
Partner
·
Mohamed
Taha Administration
Manager
·
Mostafa
Itrees Administration
Executive
LEGAL FORM & OWNERS
Date of Establishment : 10th
December 2000
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 6282, Cairo
Tax Card No. : 200-205-153
Issued Capital : £E 175,000
Paid up Capital : £E 175,000
Name of Shareholder
(s)
·
Mahmoud
Mohamed Hassan El Shafie
·
Members
of Mr Mahmoud Mohamed Hassan El Shafie’s family
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuffs, including rice and seeds.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 20 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 7,625,000 £E 8,010,000
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 (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
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.67 |
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UK Pound |
1 |
Rs.82.53 |
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Euro |
1 |
Rs.69.13 |
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 |
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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.