MIRA
INFORM REPORT
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Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
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Name : |
MARC TRADE CO |
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Registered Office : |
19 Omar Ben Elkhatab Street Heliopolis Cairo 11361 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1992 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of specialised concentrates for food products. |
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$ 200,000 |
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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) |
|
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 : MARC TRADE CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1992
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 45
Activities : Manufacturers of specialised concentrates for food products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
MARC TRADE CO
ADDRESS
Registered & Physical Address
Street : 19 Omar Ben
Elkhatab Street
Area : Heliopolis
Town : Cairo 11361
Country : Egypt
Telephone : (20-2) 44800125
/ 44800124 / 44800126
Facsimile : (20-2)
44800123
Mobile : (20-12)
2458741 / 2339975
Email : marc_trade@link.net
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· Industrial Zone,
Plot 239 Factory
premises
Cairo Ismailia
Road
Obour City
Cairo
KEY PRINCIPALS
Name Position
· George Shoukry
Saad Managing
Partner
· Aiyt Shenouda Partner
LEGAL FORM & OWNERS
Date of
Establishment : 1992
Legal Form : Limited Liability
Partnership
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder (s)
· George Shoukry
Saad
· Aiyt Shenouda
OPERATIONS
Activities: Engaged in the manufacture of specialised concentrates for food
products.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 45 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
13,275,000 £E
13,800,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.57 |
|
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.