MIRA INFORM
REPORT
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Report Date : |
09.06.2011 |
IDENTIFICATION DETAILS
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Name : |
EL MOHANDES FOR TRADING & MANUFACTURING
MODERN CHEMICALS |
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Registered Office : |
Cairo Alexandria
Road, Km 71, Janaklis, Abu El Matamir,
Beheira |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
7090, Kafr El Dawar |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of chemical products used in the paint industry |
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$ 350,000 |
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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 |
Bottom of Form
SUMMARY
Company Name : EL MOHANDES FOR TRADING & MANUFACTURING MODERN
CHEMICALS
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1998
Commercial Registration Number : 7090, Kafr El Dawar
Tax Card Number : 566-975-386
Issued Capital : £E 20,000
Paid up Capital : £E 20,000
Total Workforce : 230
Activities : Manufacturers of chemical products used in the paint industry.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 350,000
COMPANY NAME
EL MOHANDES FOR
TRADING & MANUFACTURING MODERN CHEMICALS
company ADDRESS
Registered & Physical Address
Street : Cairo Alexandria Road, Km 71
Area : Janaklis,
Abu El Matamir
Town : Beheira
Country : Egypt
Telephone : (20-45) 2403703 / 2430456 / 2430455 /
2430454 / 9515912
Facsimile : (20-45) 2422135 / 2430135
Mobile : (20-10) 5389800 / 5838530
Email : info@el-mohandes.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Suburban Business Area of Beheira.
KEY PRINCIPALS
Name Position
·
Mohamed
Mahmoud Abu El Kheir Managing
Partner
·
Abdel Fattah Khalifa Omar Finance
Manager
·
Abdel Wahed Eissa Production
Manager
·
Seif Mahmoud Export
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 7090, Kafr El Dawar
Tax
Card No. : 566-975-386
Issued Capital : £E 20,000
Paid up Capital : £E 20,000
Name of Shareholder
(s) Percentage
·
Mohamed
Mahmoud Abu El Kheir 28.42%
·
Kasem Abu El Kheir 24.18%
·
Abd El Wahed Saad Essa 23.32%
·
Atef Mohamed Moussa 14.20%
·
Mohamed
Ali El Akraa 7.92%
·
Abd El Rahman Shaaban Abu El Kheir 1.96%
OPERATIONS
Activities: Engaged in the manufacture of chemical
products used in the paint industry.
Import
Countries: Belgium, the
Netherlands, Jordan and the United States of America.
Operating Trend: Steady
Subject has a
workforce of approximately 230 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 18,500,000 £E 19,725,000
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) 23379363
Fax: (20-2) 23772959
·
Misr
International Bank (MIBANK)
14 Alfy Street
PO Box: 631
Cairo
Tel: (20-2) 25931002
Fax:
(20-2) 25912306
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.61 |
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UK Pound |
1 |
Rs.73.28 |
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Euro |
1 |
Rs.65.47 |
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.