MIRA INFORM REPORT

 

 

Report Date :

25.02.2011

 

IDENTIFICATION DETAILS

 

Name :

EL EMAM FOR IMPORT

 

 

Registered Office :

11 Mahdi Street, Azbakiya, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

13.01.2006

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Import and distribution of hardware and tools, power tools, workshop   equipment and machinery

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$ 100,000

Status :

Moderate

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                                     : EL EMAM FOR IMPORT

Also Known As                                      : EMAM ATA EMAM AND PARTNER

Country of Origin                                    : Egypt

Legal Form                                            : General Partnership

Registration Date                                   : 13th January 2006

Tax Card Number                                   : 242-707-025

Import Licence Number                           : 55918

Partners Capital                                     : £E 50,000

Total Workforce                                     : 12

Activities                                               : Import and distribution of hardware and tools, power tools, workshop

                                                              equipment and machinery

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 100,000

Person Interviewed                                 : Emam Ata Emam, Managing Partner

 

COMPANY NAME

 

EL EMAM FOR IMPORT

 

 

ALSO KNOWN AS

 

EMAM ATA EMAM AND PARTNER

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 11 Mahdi Street

Area                 : Azbakiya

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 25882368

Facsimile          : (20-2) 25914088

Mobile               : (20-12) 2198974

Email                : abidally@link.net

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Cairo.

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                               Position

 

·       Emam Ata Emam                                         Egyptian                                   Managing Partner

 

·       Abidally Hassanally                                         Indian                                      Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 13th January 2006

 

Legal Form                  : General Partnership

 

Tax Card No.               : 242-707-025

 

Import Licence No.      : 55918

 

Partners Capital           : £E 50,000

 

Name of Partner (s)

 

·       Emam Ata Emam

 

·       Abidally Hassanally

 

 

AFFILIATED COMPANIES

 

·       Al Cairo For Equipments & General Supplies

     11 Mahdi Street

     Azbakiya Area

     Cairo

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of hardware and tools, power tools, workshop equipment and

     machinery.

 

Import Countries: India

 

Operating Trend: Steady

 

Subject has a workforce of 12 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 7,950,000                             £E 8,400,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Misr International Bank (MIBANK)

14 Alfy Street

     PO Box: 631

     Cairo

     Tel: (20-2) 25931002

     Fax: (20-2) 25912306

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              December 2008

Credit amount                                        100,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.54

Euro

1

Rs.62.39

 

 

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

 

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.