MIRA INFORM
REPORT
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Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
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Name : |
FOUMEDCO |
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Registered Office : |
22 Abd El Hamid
Lotfi Street, El Mohandessin, Giza, Cairo 12311 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1986 |
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Com. Reg. No.: |
69309, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors and maintainers of medical x-ray equipment, dental medical equipment & radiology equipment accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 30,000 |
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Status : |
Moderate |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Egypt |
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 |
Bottom of Form
SUMMARY
Company Name : FOUMEDCO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1986
Commercial Registration Number : 69309, Cairo
Tax Card Number : 337-171-475
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 20
Activities :
Distributors and maintainers of medical x-ray
equipment, dental medical
equipment & radiology equipment accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 30,000
COMPANY NAME
FOUMEDCO
company ADDRESS
Registered & Physical Address
Street : 22 Abd El Hamid Lotfi Street
Area : El Mohandessin, Giza
Town : Cairo 12311
Country : Egypt
Telephone : (20-2) 33359572
Facsimile : (20-2) 33359572
Mobile : (20-12) 3122980
Email : info@foumedco.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Suburban Business
Area of Cairo.
Branch Office (s)
Location Description
·
7 El Shahid Farik Tayar Mahmoud Shourky Street Sales Office
Sidi
Gaber
Alexandria
Tel: (20-3)
4255047
KEY PRINCIPALS
Name Position
·
Mohamed Abdou Mahmoud Managing
Partner
·
Abd El Halim El Nokrashy Partner
·
Wael El Messiry Sales
Manager
·
Islam Shoukry Technical
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1986
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 69309, Cairo
Tax Card No. : 337-171-475
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Name of Shareholder
(s)
·
Mohamed Abdou Mahmoud
·
Abd El Halim El Nokrashy
OPERATIONS
Activities: Engaged in the
import, distribution and maintenance of medical x-ray equipment, dental medical
equipment &
radiology equipment accessories.
Import
Countries: Germany, Italy, Finland and Sweden
Agencies Held:
·
Cawo
Photochemische Fabrik
·
BMI
·
GMM
·
Planmeka
Operating Trend: Steady
Subject has a
workforce of 20 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
States Dollars (US$)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales US$ 187,000 US$ 200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Arab International Bank (AIB)
35 Abdel Khalek Sarwat Street
PO Box: 1563
Cairo 11511
Tel: (20-2) 33918794 / 33916391 / 33916492
Fax: (20-2) 33916233 / 33912319
·
Misr
International Bank (MIBANK)
PO Box: 631
Cairo
Tel: (20-2) 25931002
Fax: (20-2) 25912306
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.98 |
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UK Pound |
1 |
Rs.72.68 |
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Euro |
1 |
Rs.64.16 |
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.