MIRA INFORM
REPORT
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Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
AL GARAS FOR SPICES & HERBS INDUSTRY |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1996 |
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Com. Reg. No.: |
411, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Producers, processors and packagers of spices and herbs |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : AL GARAS FOR SPICES & HERBS INDUSTRY
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1996
Commercial Registration Number : 411,
Tax Card Number : 202-485-862
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 65
Activities : Producers, processors and packagers of spices and herbs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL GARAS FOR SPICES
& HERBS INDUSTRY
company ADDRESS
Registered & Physical Address
Street :
Area :
Town :
Country :
Telephone : (20-3) 4835801 / 4835802 / 4853131
Facsimile : (20-3) 4835803 / 4865065
Email : info@algarasspices-herbs.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Alexandria.
Branch Office (s)
Location Description
·
Plot No
7, Block 1, Industrial Zone No. 3 Factory
premises
Borg Al Arab City
Tel: (20-3) 4599245
Fax: (20-3) 4594052
KEY PRINCIPALS
Name Position
·
Dr Gad
Garas Managing
Partner
·
Dr
Fawzia Gad Garas Partner
·
Michael
Kamel Factory
Manager
·
Shaaban
Khamis Production
Manager
·
Awny
Abd El Nour Finance
Manager
·
Sherif
George Nagib Purchasing
Manager
·
Emad
Samir Sales
Manager
·
Ramy
Lamie Quality
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 411,
Tax
Card No. : 202-485-862
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder
(s) Percentage
·
Dr Gad
Garas 90%
·
Dr
Fawzia Gad Garas 10%
AFFILIATED COMPANIES
·
Bell
Food Co
OPERATIONS
Activities: Engaged in the production, processing and
packaging of spices and herbs.
Import
Countries:
Export
Countries:
Brand Names: AL GARAS
Operating Trend: Steady
Subject has a
workforce of 65 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 72,900,000 £E 76,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Bank of
El Gomrok, Mansheya
Tel: (20-3) 4827995
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.45.20 |
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|
1 |
Rs.73.07 |
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Euro |
1 |
Rs.61.41 |
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 |
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.