MIRA INFORM
REPORT
|
Report Date : |
03.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
EL NADA CENTER FOR CHEMICAL SUPPLIES |
|
|
|
|
Registered Office : |
25
Fouzi Mouaz Street, Qasr El Arouba, Samouh, Alexandria |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
28.12.2003 |
|
|
|
|
Com. Reg. No.: |
164293, Alexandria |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Distributors of chemicals and
inks for the printing and packaging industries |
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 NADA CENTER FOR CHEMICAL SUPPLIES
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 28th December 2003
Commercial Registration Number : 164293, Alexandria
Tax Card Number : 496-852-566
Invested Capital : £E 50,000
Total Workforce : 12
Activities :
Distributors of chemicals and inks for the printing
and packaging
industries.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
Person Interviewed : Mohamed Mahmoud Embabe Abdul Hadi, Proprietor
COMPANY NAME
EL NADA CENTER FOR
CHEMICAL SUPPLIES
company ADDRESS
Registered & Physical Address
Street : 25
Fouzi Mouaz Street
Area : Qasr
El Arouba, Samouh
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4954295
Facsimile : (20-3) 4954295
/ 4251019
Mobile : (20-12) 3458424 / (20-10) 6660520
Email : elnadacenter97@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Mohamed Mahmoud Embabe Abdul Hadi Proprietor
& General Manager
·
Maqsam Kamel Commercial
Manager
·
Ali Ibrahim Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th
December 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 164293, Alexandria
Tax Card No. : 496-852-566
Invested Capital
: £E 50,000
Mr Mohamed Mahmoud Embabe Abdul Hadi is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the import
and distribution of chemicals and inks for the printing and packaging
industries.
Import
Countries: India and
Germany
International
Suppliers:
·
CSC Pvt Ltd India
·
Henkel Germany
Clients:
·
Alex Pack
·
Misr Rotogravure
·
Koboush Pack
Operating Trend: Steady
Subject has a
workforce of 12 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 9,500,000 £E 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Arab
African International Bank
73 Horreya Road
PO Box: 2252
Alexandria
Acc No. 591988
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
|
1 |
Rs.73.89 |
|
Euro |
1 |
Rs.65.57 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.