MIRA INFORM
REPORT
|
Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
EL FATH CO |
|
|
|
|
Registered Office : |
El Tareeq El Saree,
El Hejaniya Village, Damanhour, Beheira |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1992 |
|
|
|
|
Com. Reg. No.: |
69162 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Distributors of pesticides, insecticides and chemicals |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 125,000 |
|
Status : |
Satisfactory |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Egypt |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Bottom of Form
SUMMARY
Company Name : EL FATH CO
Also Known As : EL FATH IMPORTATION & DISTRIBUTION
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1992
Commercial Registration Number : 69162
Invested Capital : £E 10,000
Total Workforce : 6
Activities : Distributors of pesticides, insecticides and chemicals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
Person Interviewed : Rajab Mostafa Tawfiq El Najjar, General Manager
COMPANY NAME
EL FATH CO
ALSO KNOWN AS
EL FATH IMPORTATION
& DISTRIBUTION
company ADDRESS
Registered & Physical Address
Building : El Tareeq El Saree, El Hejaniya
Village
Area : Damanhour
Town : Beheira
Country : Egypt
Telephone : (20-45) 3030614
Facsimile : (20-45) 3030614
Mobile : (20-10) 3442001 / 6070784 /
(20-15) 21203535
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Beheira.
KEY PRINCIPALS
Name Position
·
Samia
Ibrahim Taha El Najjar Proprietor
·
Rajab
Mostafa Tawfiq El Najjar General
Manager
·
Ibrahim
Mohamed El Najjar Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1992
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 69162
Invested Capital
: £E 10,000
Mrs Samia Ibrahim Taha
El Najjar is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
pesticides, insecticides and chemicals.
Import
Countries: Europe and India
International
Suppliers:
·
United
Phosphorous Ltd (UPL) India
·
Ferex
Agri France
Operating Trend: Steady
Subject has a
workforce of 6 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 7,350,000 £E 7,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of Egypt
Gamal Abdel Nasser Street
Beheira
Tel: (20-45) 2910482
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.37 |
|
UK Pound |
1 |
Rs.70.84 |
|
Euro |
1 |
Rs.62.96 |
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 |
|
---- |
NB |
New Business |
---- |
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.