MIRA INFORM
REPORT
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Report Date : |
11.07.2011 |
IDENTIFICATION DETAILS
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Name : |
NEW AL GIHAD CO SAE |
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Registered Office : |
127 Misr Wel
Sudan Street, Hadayek El Kobba, P O Box
77, Cairo 11331 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
8120 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of frozen fish and seafood |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Bottom of Form
SUMMARY
Company Name : NEW AL GIHAD CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1998
Commercial Registration Number : 8120
Tax Card Number : 015-044-313
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 55
Activities : Distributors of frozen fish and seafood.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
NEW AL GIHAD CO SAE
company ADDRESS
Registered
& Physical Address
Street : 127 Misr Wel Sudan Street
Area : Hadayek El Kobba
PO Box : 77
Town : Cairo 11331
Country : Egypt
Telephone : (20-2) 29223694 / 24872888
Facsimile : (20-2) 24872888
Mobile : (20-10) 5384898
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
3 Ibn
El Sawy Office
premises
El Khanka
Kaliubeya
Tel: (20-2) 44631821
·
7 El
Gomhoriya Street Warehouse
premises
El Matariya
Cairo
KEY PRINCIPALS
Name Position
·
Tamer
Abd El Dayem Managing
Director
·
Khaled
Farghaly Salama Director
·
Mohamed
Hussein Mourad Director
·
Ahmed
Mahmoud Abd El Dayem General
Manager
·
Ahmed
Farghaly Salama Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 8120
Tax Card No. : 015-044-313
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Name of Shareholder
(s) Percentage
·
Ahmed
Abd El Halim El Sayed 50%
·
Ahmed
Farghaly Salama 25%
·
Khaled
Farghaly Salama 25%
OPERATIONS
Activities: Engaged in the import and distribution of
frozen fish and seafood.
Import
Countries: Canada, Japan, Spain,
China, Taiwan, South Korea, Yemen and Indonesia.
Operating Trend: Steady
Subject has a
workforce of 55 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 8,120,500 £E 10,500,850
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
BNP
Paribas
Abass Elakad Street
Nasr City
Cairo
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk.
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent given the magnitude of the transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
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UK Pound |
1 |
Rs.70.74 |
|
Euro |
1 |
Rs.63.65 |
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.