MIRA INFORM REPORT

 

 

Report Date :           

08.03.2011

 

IDENTIFICATION DETAILS

 

Name :

NOUR GROUP INTERNATIONAL

 

 

Registered Office :

60A Nageeb El Rihany Street, Attaba, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1978

 

 

Com. Reg. No.:

14691, Cairo

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Import, wholesale and retail of auto spare parts and related accessories

 

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$ 100,000

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : NOUR GROUP INTERNATIONAL

Country of Origin                                    : Egypt

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 1978

Commercial Registration Number            : 14691, Cairo

Tax Card Number                                   : 244-501-335

Invested Capital                                     : £E 25,000

Total Workforce                                     : 15

Activities                                               : Import, wholesale and retail of auto spare parts and related

accessories.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 100,000

Person Interviewed                                 : Mohamed Farooq, Sales Manager

 

COMPANY NAME

 

NOUR GROUP INTERNATIONAL

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 60A Nageeb El Rihany Street

Area                 : Attaba

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 25923433 / 25920464 / 25927337

Facsimile          : (20-2) 25926569 / 25880212 / 22757170

Mobile               : (20-12) 3187530

Email                : nourtradeco@yahoo.com

 

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

 

·       22 Fouad Badawani                                                                           Rented store & warehouse

     Nasr City

     Cairo

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Nour Eddine Ali Ahmed                                                      Proprietor & General Manager

 

·       Ibrahim Abdul Wahab                                                                        Assistant General Manager

 

·       Mohamed Farooq                                                                              Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1978

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 14691, Cairo

 

Tax Card No.               : 244-501-335

 

Invested Capital           : £E 25,000

 

Mr Mohamed Nour Eddine Ali Ahmed is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the import, wholesale and retail of auto spare parts and related accessories.

 

Import Countries: India and Brazil

 

International Suppliers:

 

·       TVS             India

·       Frenza         Brazil

 

Operating Trend: Steady

 

Subject has a workforce of 15 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 8,250,000                             £E 8,700,000

 

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

 

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

 

 

BANKERS

 

·       Misr International Bank (MIBANK)

14 Alfy Street

     PO Box: 631

     Cairo

     Tel: (20-2) 35931002

     Fax: (20-2) 35912306

 

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

Indian Rupees

US Dollar

1

Rs.45.13

UK Pound

1

Rs.73.36

Euro

1

Rs.60.06

 

 

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

 

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.