MIRA INFORM REPORT
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Report Date : |
02.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AL AQSA CO IMPORT AND EXPORT SAE |
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Registered Office : |
Nerco Degla,
Maadi, Building No. 15/2, Flat No. 24, 5th Part, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.04.2007 |
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Com. Reg. No.: |
24087, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Import and distribution of frozen meat and poultry |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : AL AQSA CO IMPORT AND EXPORT SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 22nd April 2007
Commercial Registration Number : 24087, Cairo
Issued Capital : £E 300,000
Paid up Capital : £E 300,000
Total Workforce : 15
Activities : Import and distribution of frozen meat and poultry.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Ahmed Jamal, Financial Controller
COMPANY NAME
AL AQSA CO IMPORT AND EXPORT SAE
company ADDRESS
Registered &
Physical Address
Location : Nerco Degla, Maadi, Building No.
15/2, Flat No. 24, 5th Part
Town : Cairo
Country : Egypt
Telephone : (20-2) 27549058
Facsimile : (20-2) 25163515
Mobile : (20-100) 5111520 / (20-120) 3227460
Email : alaksaco@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Ali Abdo Abdul Said Managing
Director
·
Mostafa Alaa Eldin El Shargi Director
·
Akram
Osama El Shalagani Director
·
Medhat Abdo El Sayed General
Manager
·
Mohamed
Badr Mohamed Finance
Manager
·
Ahmed
Jamal Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 22nd
April 2007
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 24087, Cairo
Issued Capital : £E 300,000
Paid up Capital : £E 300,000
Name of
Shareholder (s)
·
Ali Abdo Abdul Said
·
Mostafa Alaa Eldin El Shargi
·
Akram
Osama El Shalagani
OPERATIONS
Activities: Engaged in the import and
distribution of frozen meat and poultry.
Import
Countries: India and Brazil
International
Suppliers:
·
Al Nafees India
Operating Trend: Steady
Subject has a
workforce of 15 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 8,500,000 £E 8,775,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 35703043
Fax: (20-2) 35703172 / 35072691
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.08 |
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UK Pound |
1 |
Rs.78.78 |
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Euro |
1 |
Rs.67.76 |
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.