MIRA INFORM REPORT

 

 

Report Date :           

10.03.2011

 

IDENTIFICATION DETAILS

 

Name :

EL SERAG FOR MARBLE AND GRANITE

 

 

Registered Office :

26 Abdulrahman Haridi Street, Boulak El Dakrour, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

23.04.2003

 

 

Com. Reg. No.:

57389

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Processing and cutting of marble and granite

 

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                                     : EL SERAG FOR MARBLE AND GRANITE

Country of Origin                                    : Egypt

Legal Form                                            : General Partnership

Registration Date                                   : 23rd April 2003

Commercial Registration Number            : 57389

Tax Card Number                                   : 205-170-846

Industrial Licence Number                       : 100038

Partners Capital                                     : £E 400,000

Total Workforce                                     : 35

Activities                                               : Processing and cutting of marble and granite.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 100,000

Person Interviewed                                 : Ibrahim Abdul Sabour Ibrahim, Managing Partner

 

COMPANY NAME

 

EL SERAG FOR MARBLE AND GRANITE

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 26 Abdulrahman Haridi Street

Area                 : Boulak El Dakrour

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 37347210

Facsimile          : (20-2) 37347210

Mobile               : (20-11) 2400955 / 7427481

 

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

 

·       Sharq El Nile, El Matahara                                                                 Factory premises

Industrial Area

El Meniya

 

·       108 Selem El Awal Street                                                                  Office premises

El Zaton

Cairo

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Ibrahim Abdul Sabour Ibrahim                                                 Managing Partner

 

·       Mohamed Abdul Sabour Ibrahim                                                         Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 23rd April 2003

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 57389

 

Tax Card No.               : 205-170-846

 

Industrial Licence No.  : 100038

 

Partners Capital           : £E 400,000

 

Name of Partner (s)

 

·       Ibrahim Abdul Sabour Ibrahim

 

·       Mohamed Abdul Sabour Ibrahim

 

 

OPERATIONS

 

Activities: Engaged in the processing and cutting of marble and granite.

 

Import Countries: Italy and India

 

Operating Trend: Steady

 

Subject has a workforce of 35 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 6,250,000                             £E 7,000,000

 

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

 

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

 

 

BANKERS

 

·       National Bank of Egypt

24 Sherif Street

     Cairo

     Tel: (20-2) 23924175

     Fax: (20-2) 23924143

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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.

 

 

Additional Information

The address you provided is the subject’s old address, they now operate from the head office and branches listed in our report.

 

The subject does not know who took over their old address.

 

It is not possible for us to find out who uses a company’s old address during our investigation.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.02

UK Pound

1

Rs.72.70

Euro

1

Rs.62.54

 

 

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.