MIRA INFORM
REPORT
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Report Date : |
26.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
YAKOUT ASSOCIATON FOR MARBLE & GRANITE |
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Registered Office : |
Industrial Zone,
Moharem Bey, El Derisha, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1995 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Processors and distributors of marble and granite |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 100,000 |
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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 – 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 |
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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 : YAKOUT ASSOCIATON FOR MARBLE & GRANITE
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1995
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 14
Activities : Processors and distributors of marble and granite.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
Person Interviewed : Ahmed Abdul Karim, Commercial Manager
COMPANY NAME
YAKOUT ASSOCIATON FOR MARBLE & GRANITE
company ADDRESS
Registered & Physical Address
Location : Industrial Zone, Moharem Bey, El
Derisha
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5851345
Facsimile : (20-3) 5851345
Mobile : (20-11) 1505033
Email : yakout-store.egy@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Yakout
Mohamed Hejazi Managing
Partner
·
Amer Moosa
Kewan Partner
·
Sharee
Yakout General
Manager
·
Ahmed
Abdul Karim Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Shareholder
(s)
·
Yakout
Mohamed Hejazi
·
Amer
Moosa Kewan
AFFILIATED COMPANIES
·
Yakout
Marble & Granite Factory
El Nasserya
Al Amerya
Alexandria
OPERATIONS
Activities: Engaged in the import, processing and distribution
of marble and granite.
Import
Countries: Spain and Italy.
International
Suppliers:
·
Luiz
Marco Spain
·
Oldia Italy
·
Carara Italy
·
Tarabuni Italy
Operating Trend: Steady
Subject has a
workforce of 14 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 9,500,000 £E 9,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Citibank
95, 26th July Street
Azarita
Alexandria
Tel: (20-3) 4834363 / 4840342
Fax: (20-3) 4884363
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.45.38 |
|
UK Pound |
1 |
Rs.73.31 |
|
Euro |
1 |
Rs.63.70 |
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 |
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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 |
|
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 |
|
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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.