MIRA INFORM REPORT

 

 

Report Date :           

25.05.2011

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL TRADE AGENCIES & MARKETING CORPORATION SAE

 

 

Registered Office :

Cairo Alexandria Desert Road, Km 28, 2nd Industrial Zone, Abu Rawash, El Mehawlat, P O Box 120,: Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1990

 

 

Com. Reg. No.:

86984, Giza

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Distributors of automobiles, buses and tyres

 

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$ 5,000,000

Status :

Good

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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                                     :INTERNATIONAL TRADE AGENCIES & MARKETING CORPORATION

                                                              SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1990

Commercial Registration Number                        : 86984, Giza

Issued Capital                                        : £E 475,858,000

Paid up Capital                                      : £E 475,858,000

Total Workforce                                     : 3,000

Activities                                               : Distributors of automobiles, buses and tyres.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 5,000,000

 

COMPANY NAME

 

INTERNATIONAL TRADE AGENCIES & MARKETING CORPORATION SAE

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Cairo Alexandria Desert Road, Km 28

Area                 : 2nd Industrial Zone, Abu Rawash, El Mehawlat

PO Box             : 120

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 35390794 / 35391201 / 35390760 / 35390750

Facsimile          : (20-2) 35390766 / 35391198 / 35390761

Mobile               : (20-10) 1776055 / 1764240

 

Premises

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Cairo.

 

Branch Office (s)

·       221 Gamal Abd El Nasser Street

Alexandria

Tel: (20-3) 5407513

 

·       27 El Sultan Hussein Street

Alexandria

Tel: (20-3) 4865024

 

·       14 El Obour Building

Nasr City

Cairo

Tel: (20-2) 22633608

 

·       21 Emad El Din Street

Cairo

Tel: (20-2) 25932570

 

·       14 Wezaret El Zeraa Street

Cairo

Tel: (20-2) 33387660

 

·       3 El Shahid Ahmed Hamdy Otour

Giza

Cairo

 

·       30 Maadi Cairo Agri Road

Cairo

Tel: (20-2) 25286492

 

·       22 El Marghany Street

Cairo

Tel: (20-2) 22579081

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Nader Raouf Kamal Hanna                                                                 Chairman

 

·       Medhat George Kamal                                                                       Director

 

·       Kamal Raouf Kamal Hanna                                                                Director

 

·       El Moustafa Mohamed Abd El Halim                                                   Director

 

·       Ghassan Soughir Soliman                                                                  Director

 

·       Raouf Kamal Hanna                                                                           Director

 

·       Bassem Iskander                                                                              Finance Manager

 

·       Abdulla Bakr                                                                                     Project Manager

 

·       Esmat El Arabi                                                                                 Maintenance Manager

 

·       Ahmed Elias                                                                                     Export Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1990

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 86984, Giza

 

Issued Capital              : £E 475,858,000

 

Paid up Capital            : £E 475,858,000

 
Name of Shareholder (s)                                                       Percentage

 

·       RG Investment                                                                      84.13%

 

·       GB Auto                                                                                 9.21%

 

·       Egyptian Vehicles Manufacturing                                              6.10%

 

·       Ola Lotfy Zaki Wahab                                                              0.28%

 

·       Raouf Kamal Hanna                                                                 0.28%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of automobiles, buses and tyres.

 

Import Countries: South Korea, India, Turkey, Japan, Germany, Brazil and Sweden.

 

Brand Names: APOLLO, KUMHO, LASSA, VOLVO, SUMITOMO and HYUNDAI

 

Operating Trend: Steady

 

Subject has a workforce of approximately 3,000 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 3,870,883,660                       £E 4,362,320,491

 

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

 

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

 

 

BANKERS

 

·       National Societe Generale Banque

5 Champollion Street

Cairo

Tel: (20-2) 27707777

     Fax: (20-2) 27702664

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.25

UK Pound

1

Rs.72.82

Euro

1

Rs.63.58

 

 

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%)

 

 

 

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.