MIRA
INFORM REPORT
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Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ANDALOSSIA COMPANY |
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Registered Office : |
Building No. 510, Apt No. 30, 11th |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2002 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of seafood and fruit. |
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$ 250,000 |
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Status : |
Satisfactory |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 : ANDALOSSIA COMPANY
Country of Origin :
Legal Form : Limited Liability Partnership
Start Date : 2002
Registration Date : 25th September 2010
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 25
Activities : Import and distribution of seafood and fruit.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
ANDALOSSIA COMPANY
ADDRESS
Registered & Physical Address
Building : Building No.
510, Apt No. 30, 11th Floor
Street :
Area : Mohandessin
Town :
Country :
Telephone : (20-2) 49210175
Facsimile : (20-2)
49210175
Email : sales@andalossia.net
/ rle38@yahoo.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Cairo.
Branch Office (s)
Location Description
·
Building No. 1
El Obour City
Kaliobeya
Subject also operates branches located in Fanar Al
Mahya,
KEY PRINCIPALS
Name Position
· Abdullah Abu El
Khair Ahmed Managing Partner
· Mahmoud Ahmed Ali Partner
· Alaa Eddine Hassan Partner
LEGAL FORM & OWNERS
Date of
Establishment : 2002
History : Subject began in
2002 as a Sole Proprietorship called “Andalossia for Import and Export
Company”. However
on 25th September 2010 it re-registered as a Limited
Liability
Partnership under the current style of “Andalossia Company”.
Legal Form : Limited Liability
Partnership
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Shareholder (s)
· Abdullah Abu El
Khair Ahmed
· Mahmoud Ahmed Ali
· Alaa Eddine Hassan
OPERATIONS
Activities: Engaged in the import and distribution of seafood including shrimps,
sole fish, squid tubes, pangasuis
fillet,
lobster, mackerel and mullet fish, as well as fruits such as pineapple, apple,
pear and banana.
Import Countries:
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
29,400,000 £E
30,000,000
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
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
·
Arab Banking Corporation
PO Box: 781
Tel: (20-2)
25745488 / 25780417
Fax: (20-2)
25780416
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of
transaction September
2008
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
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.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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 |
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-- |
NB |
New Business |
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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.