MIRA INFORM
REPORT
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Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
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Name : |
AL AMAL CO TRADE AND AGENCIES |
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Registered Office : |
32/A Yehia
Ibrahim Street, Zamalek, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1981 |
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Com. Reg. No.: |
40920, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and export of agricultural produce |
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 – 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 |
SUMMARY
Company Name : AL AMAL CO TRADE AND AGENCIES
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1981
Commercial Registration Number : 40920, Cairo
Tax Card Number : 215-245-547
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 60
Activities : Import and export of agricultural produce.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Ms Heba Hussain, Administrative Officer
COMPANY NAME
AL AMAL CO TRADE
AND AGENCIES
company ADDRESS
Registered & Physical Address
Street : 32/A Yehia Ibrahim Street
Area : Zamalek
Town : Cairo
Country : Egypt
Telephone : (20-2) 27381088 / 27383298
Facsimile : (20-2) 27350157
Mobile : (20-10) 1734765
Email : elamalegypt@link.net / info@alamal-trade.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Mohamed Othman Islam Managing
Partner
·
Ahmed Othman Islam Partner
·
Khalid Othman Islam Partner
·
Samy
Abu Al Marakem Financial
Controller
·
Ms Heba Hussain Administrative
Officer
LEGAL FORM & OWNERS
Date of Establishment : 1981
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 40920, Cairo
Tax Card No. : 215-245-547
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder
(s)
·
Mohamed Othman Islam
·
Ahmed Othman Islam
·
Khalid Othman Islam
AFFILIATED COMPANIES
·
Al Amal
Food Industries & Export
Plot No. 20, 6th Industrial Zone
6th of October City
OPERATIONS
Activities: Engaged in the import
and export of agricultural produce, including rice and commodities, herbs,
fruits and vegetables.
Import
Countries: Europe and Asia
Export
Countries: Argentina,
China, Turkey, Canada, Syria, Australia and Sudan.
Operating Trend: Steady
Subject has a
workforce of 60 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 20,450,000 £E 21,800,000
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
24 Sherif Street
Cairo
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 25703043 / 25172563
Fax : (20-2) 25703172 / 25072691
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.
Bottom of Form
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.57 |
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UK Pound |
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.62.60 |
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.