MIRA INFORM REPORT
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Report Date : |
09.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AL MUSTANEER IMPORT & EXPORT CO |
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Registered Office : |
18 Mohamed Ali
Basyounin Street, Off Abdel Qader Lamloum Street,
Shoubra El Khaimah, P O Box 16, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
18557, Cairo |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and distribution of tea, spices, herbs and rice |
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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 MUSTANEER IMPORT & EXPORT CO
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 2003
Commercial Registration Number : 18557, Cairo
Partners Capital : £E 100,000
Total Workforce : 10
Activities : Import and distribution of tea, spices, herbs and rice
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Osma El Fouli, Sales Manager
COMPANY NAMe
AL MUSTANEER IMPORT & EXPORT CO
company ADDRESS
Registered &
Physical Address
Street : 18 Mohamed Ali Basyounin Street,
Off Abdel Qader Lamloum Street
Area : Shoubra El Khaimah
PO Box : 16
Town : Cairo
Country : Egypt
Telephone : (20-2) 42223345
Facsimile : (20-2) 42221207
Mobile : (20-11) 5507662 / 5546651 /
4359074
Email : hatemnager@hotmail.com / osamaelfoly@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Cairo.
KEY PRINCIPALS
Name Nationality Position
·
Fouzi
Omar Mossallam Al Mustaneer Yemeni Managing Partner
·
Khalif Nasser Saleh Al Amour Al Dossary Saudi Partner
·
Ibrahim
Mohamed Al Fouli Egyptian Partner
·
Osma El Fouli Egyptian Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 2003
Legal Form :
General Partnership
Commercial Reg. No. : 18557, Cairo
Partners Capital : £E 100,000
Name of Partner
(s)
·
Fouzi
Omar Mossallam Al Mustaneer
·
Khalif Nasser Saleh Al Amour Al Dossary
·
Ibrahim
Mohamed Al Fouli
AFFILIATED COMPANIES
·
Khalif Nasser Al Dossary Est
Jeddah
Saudi Arabia
OPERATIONS
Activities: Engaged in the import and distribution of
tea, spices, herbs and rice.
Import
Countries: Vietnam, Brazil
and Guatemala
Brand Names: AL MUSTANEER
Operating Trend: Steady
Subject has a
workforce of 10 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 8,950,000
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 Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
Acc No. 11000250796
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction February
2008
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.38 |
|
UK Pound |
1 |
Rs.79.20 |
|
Euro |
1 |
Rs.67.84 |
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 |
|
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 |
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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.