MIRA INFORM REPORT

Report Date :

29.07.2011

IDENTIFICATION DETAILS

Name :	EL ANSARY TRADING & CONTRACTING CO

Registered Office :	4 El Khalil Street, Lebanon Square, Mohandessin, Giza, Cairo

Country :	Egypt

Financials (as on) :	31.12.2010

Year of Establishment :	1991

Com. Reg. No.:	107752

Legal Form :	Limited Liability Partnership

Line of Business :	General Building Contractors

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 250,000
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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Egypt

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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SUMMARY

Company Name : EL ANSARY TRADING & CONTRACTING CO

Country of Origin : Egypt

Legal Form : Limited Liability Partnership

Registration Date : 1991

Commercial Registration Number : 107752

Issued Capital : £E 50,000

Paid up Capital : £E 50,000

Total Workforce : 82

Activities : General building contractors.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 250,000

COMPANY NAME

EL ANSARY TRADING & CONTRACTING CO

company ADDRESS

Registered & Physical Address

Street : 4 El Khalil Street, Lebanon Square

Area : Mohandessin, Giza

Town : Cairo

Country : Egypt

Telephone : (20-2) 33023282 / 33450725 / 33464468

Facsimile : (20-2) 33038554

Mobile : (20-12) 3186444 / (20-10) 5018728

Email : elansary@link.net

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

· Ard El Lewa Warehouse premises

Giza

Cairo

KEY PRINCIPALS

Name Position

· Anas El Ansary Managing Partner

· Essam El Ansary Partner

· Amal El Kady Partner

· Naglaa El Sayed Finance Manager

· Ahmed Badia Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 1991

Legal Form : Limited Liability Partnership

Commercial Reg. No. : 107752

Issued Capital : £E 50,000

Paid up Capital : £E 50,000

Name of Shareholder (s) Percentage

· Anas El Ansary 45%

· Essam El Ansary 45%

· Amal El Kady 10%

OPERATIONS

Activities: Engaged as general building contractors as well as importers and distributors of stoneware, glassware, pottery and porcelain, toys and games, gaming machines, electric lamps, bulbs and components.

Import Countries: Taiwan, China, Germany, Spain, Argentina, Pakistan, Italy and Indonesia.

Operating Trend: Steady

Subject has a workforce of 82 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 51,830,178 £E 60,753,730

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

The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.13
UK Pound	1	Rs.72.05
Euro	1	Rs.63.33

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%)

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