MIRA INFORM REPORT

 

 

Report Date :           

28.07.2011

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL OFFICE FOR EXPORT & IMPORT

 

 

Registered Office :

17 Kamel El Haroony Street, Nasr City, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1971

 

 

Com. Reg. No.:

331723, Cairo

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Wholesale and retail of computer accessories, office equipment and machinery, as well as offering advertising and promotional services

 

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$ 300,000

 

 

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                                     : INTERNATIONAL OFFICE FOR EXPORT & IMPORT

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 1971

Commercial Registration Number            : 331723, Cairo

Issued Capital                                        : £E 100,000

Paid up Capital                                      : £E 100,000

Total Workforce                                     : 65

Activities                                               : Wholesale and retail of computer accessories, office equipment and

                                                              machinery, as well as offering advertising and promotional services.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 300,000

 

COMPANY NAME

 

INTERNATIONAL OFFICE FOR EXPORT & IMPORT

 

 

company ADDRESS

 

Registered & Physical Address

 

Street               : 17 Kamel El Haroony Street

Area                 : Nasr City

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 22747124 / 22747155 / 22876373 / 22876372

Facsimile          : (20-2) 22870474

Email                : intoffic@hotmail.com

 

Premises

 

Subject operates from a medium sized suite of offices and a showroom that are rented and located in the Central Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       29 Abdul Khaleq Tharwat Street                                                          Rented showroom premises

Cairo

       Tel: (20-2) 2936013 / 2928005

       Fax: (20-2) 2926209

 

·       36 Ahmed Fakhri Street                                                                     Rented showroom premises

Nasr City

Cairo

Tel: (20-2) 22734724

 

·       44A Soliman Pacha Street                                                                 Rented showroom premises

Cairo

Tel: (20-2) 25791334 / 25756604 / 25771620

Fax: (20-2) 25770124

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Khalid Hassan Mahmoud                                                                   Managing Partner

 

·       Mohamed Khalid Hassan Mahmoud                                                    Partner

 

·       Mostafa Khalid Hassan Mahmoud                                                       Partner

 

·       Ahmed Al Malah                                                                               Finance Manager

 

·       Mohamed Al Tanbul                                                                           Purchasing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1971

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 331723, Cairo

 

Issued Capital              : £E 100,000

 

Paid up Capital            : £E 100,000

 

Name of Shareholder (s)

 

·       Khalid Hassan Mahmoud

 

·       Mohamed Khalid Hassan Mahmoud

 

·       Mostafa Khalid Hassan Mahmoud

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of computer accessories, office equipment and machinery, as well as  offering advertising and promotional services.

 

Import Countries: Germany and Italy.

 

Brand Names: APLUS, BENSON, BOVEY, CAMLIN, DSB, DYMO, ELITE, FELLOWES, FLOWER, FUDA,

HOMEDAL, HORSE, INSTANT, LANTU, LIQIN, MARKIN, MIMAKS, OLFA, PAN GULF, PAXTON, ROTOMAR, SAINTY, SANEM, SUNRISE GLOBAL, TATO, TIKO, UNIVERSAL, WAHLUEN,

YAMAYO, YOKA, ZHIDI PEN and ZIG

 

Operating Trend: Steady

 

Subject has a workforce of 65 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 22,400,000                           £E 23,700,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Al Watany Bank of Egypt

PO Box: 750

Cairo

Tel: (20-2) 33379363

Fax: (20-2) 33772959

 

 

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.43.95

UK Pound

1

Rs.72.12

Euro

1

Rs.63.67

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.