MIRA INFORM REPORT

 

 

Report Date :           

15.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ABDEL FATTAH METWALLY KAMAR

 

 

Registered Office :

45 Kasr El Nile Street, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1983

 

 

Com. Reg. No.:

219368, Cairo

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesale and retail of dried food, as well as importing and distributing agricultural products and machinery

 

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$ 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 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                                     : ABDEL FATTAH METWALLY KAMAR

Also Known As                                      : QAMR FOR IMPORT & EXPORT

Country of Origin                                    : Egypt

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 1983

Commercial Registration Number                        : 219368, Cairo

Tax Card Number                                   : 100-003-834

Invested Capital                                     : £E 400,000

Total Workforce                                     : 25

Activities                                               : Wholesale and retail of dried food, as well as importing and distributing

                                                              agricultural products and machinery

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 250,000

 

 

 

COMPANY NAME

 

ABDEL FATTAH METWALLY KAMAR

 

 

ALSO KNOWN AS

 

QAMR FOR IMPORT & EXPORT

 

 

company ADDRESS

 

Registered & Physical Address

Location            : 45 Kasr El Nile Street

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 23936926

Facsimile          : (20-2) 23936726

Mobile               : (20-12) 2106583 / (20-10) 7290777

 

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Suburban Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Sahel Road cross with Yosery Helmy Street                                        Showroom premises

El Farag

Cairo

     Tel: (20-2) 22032820 / 22021138

     Fax: (20-2) 24314969 / 23936726

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdel Fattah Metwally Kamar                                                 Proprietor & General Manager

 

·       Antar Ismail                                                                                      Assistant General Manager

 

·       Helmy Mounir                                                                                   Finance Manager

 

·       Gakline Morsi                                                                                   Export Manager

 

·       Mohsin Sayed                                                                                   Sales Manager

 

·       Heba Ahmed                                                                         Administrative Secretary

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1983

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 219368, Cairo

 

Tax Card No.               : 100-003-834

 

Invested Capital           : £E 400,000

 

Mr Abdel Fattah Metwally Kamar is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of dried food such as rice, lentils and seeds.

 

     Subject also imports and distributes agricultural products and machinery.

 

Import Countries: Canada, Spain, France, Turkey and the United Kingdom.

 

International Suppliers:

 

·       Walkerseeds            Canada

·       Bitar                         United Kingdom

·       Navega                     United Kingdom

 

Export Countries: Morocco, Spain, Italy, France and the United Arab Emirates.

 

Operating Trend: Steady

 

Subject has a workforce of 25 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pound (£E)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                £E 17,500,000                           £E 18,150,000

 

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

 

The above financial figures were confirmed by Mr Mohsin Sayed, Sales Manager

 

 

BANKERS

 

·       National Bank of Egypt

Evergreen Building

10 Talaat Harb Street

     Cairo

 

·       Misr International Bank (MIBANK)

14 Alfy Street

     PO Box: 631

     Cairo

     Tel: (20-2) 5931002

     Fax: (20-2) 5912306

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                  August 2003                             January 2004

Credit amount                            200,000                         183,930

Amount overdue             0                                              0

Payment terms                          90 days                                     90 days

Payment Method                       Letters of Credit                         Letters of Credit

Paying record                            No Complaints                           No Complaints

Currency                                   US Dollars                                 Canadian Dollars

 

 

GENERAL COMMENTS

 

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk and the above credit figure is within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.77

UK Pound

1

Rs.73.45

Euro

1

Rs.64.55

 

 

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.