MIRA INFORM
REPORT
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Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
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Name : |
WAKALEX EXPORT AND IMPORT |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1972 |
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Com. Reg. No.: |
79479, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuff products. |
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$ 1,500,000 |
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Status : |
Good |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
SUMMARY
Company Name : WAKALEX EXPORT AND IMPORT
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1972
Commercial Registration Number : 79479,
Industrial Registration Number : 28205
Tax Card Number : 100-128-459
Invested Capital : £E 50,000,000
Total Workforce : 220
Activities : Distributors of general foodstuff products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,500,000
COMPANY NAME
WAKALEX EXPORT AND IMPORT
company ADDRESS
Registered & Physical Address
Street :
Area : El Awaied
Town :
Country :
Telephone : (20-3) 5013752 / 5027429 / 5027517 /
2027776
Facsimile : (20-3) 5027374
Email : wakalex-co@dataxprs.com.eg
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Alexandria
Branch Office (s)
Location Description
·
12 El
Falaki Street Rented
office premises
Raml Station
Tel: (20-3) 4860804 / 4860718
Fax: (20-3) 4824171
·
El
Tel: (20-2) 24179660
Fax: (20-2) 24179660
·
Nubaria
Tel: (20-45) 2633017
KEY PRINCIPALS
Name Position
·
Ahmed
Mohamed Shareef El Wakil Proprietor
& General Manager
·
Shareef
Mohamed Shareef Assistant
General Manager
·
Mustafa
Fayad Sales
Manager
·
Karim
Adeeb Mohamed Import
Manager
·
Fawzi
Shafik Finance
Manager
·
Ibrahim
Fouda Administration
Manager
·
Sally
El Sakka Export
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1972
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 79479,
Industrial Reg. No. : 28205
Tax Card No. : 100-128-459
Invested Capital
: £E 50,000,000
Mr Ahmed Mohamed Shareef
El Wakil is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import, distribution and
export of general foodstuff and commodities, including sugar,
cereals, beans, lentils,
chick peas, rice, green beans and beet sugar.
Subject is ISO 9001 and 18001 accredited.
Import
Countries:
Export
Countries: France, Spain, United
Kingdom, Italy, Bulgaria, Armenia, Jordan, Syrian, Morocco, Lebanon, Saudi Arabia,
United Arab Emirates, Kuwait, Libya, Turkey, South Korea, Indonesia, Malaysia,
Brand Names: AUNTY BAHIYA and SET EL BEIT
Operating Trend: Steady
Subject has a
workforce of approximately 220 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 647,205,000 £E 717,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of
Tel: (20-3) 4824802 / 4825715
·
Delta
International Bank
El Shallalat Branch
Tel: (20-3) 3938527 / 3938528
Fax: (20-3) 3938543
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.18 |
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|
1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.15 |
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 |
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.