MIRA INFORM
REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
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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 : |
1986 |
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Com. Reg. No.: |
24658, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of canned foodstuffs. |
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$ 500,000 |
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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 :
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1986
Commercial Registration Number : 24658,
Invested Capital : £E 100,000
Total Workforce : 50
Activities : Distributors of canned foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
company ADDRESS
Registered & Physical Address
Street :
Area : Roxy,
PO Box : 113
Town :
Country :
Telephone : (20-2) 24523022
/ 22568147
Facsimile : (20-2) 24523022
/ 22562247
Email : sudantrade@bec.com.eg
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
·
El Sharq
Tel: (20-66) 3325119
/ 3346119 / 3227092
Fax: (20-66) 3325119
Mob: (20-12) 3165592
KEY PRINCIPALS
Name Position
·
Tarek Mohamed
·
Somaya Abd
El Ghany Belal Commercial
Manager
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Sanaa Abdel Aziz Finance
Manager
·
Ihab El
Embabi Sales
Manager
·
Yasir
Ramdan Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1986
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 24658,
Invested Capital
: £E 100,000
Mr Tarek Mohamed
OPERATIONS
Activities: Engaged as
commercial agents in the field of canned foodstuffs, such as canned fruits,
olive oil, macaroni, apple vinegar and pickles.
Import
Countries:
Brand Names: GATO
Operating Trend: Steady
Subject has a
workforce of 50 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E 19,500,000 £E 21,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Mohandes
Bank SAE
23 July Street
Tel: (20-66) 239684
Fax: (20-66) 239685
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National
Bank of
Tel: (20-66) 224816 / 226637
Fax: (20-66) 327008
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Tel: (20-2) 25767233
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Sudan Shipping & Trading has been in
business for over 20 years and operates as commercial agents in the field
of canned foodstuffs, such as canned fruits, olive oil, macaroni, apple vinegar
and pickles.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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1 |
Rs.73.54 |
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Euro |
1 |
Rs.62.39 |
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.