MIRA INFORM REPORT
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Report Date : |
23.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AL AMIN IMPORT & EXPORT ESTABLISHMENT |
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Registered Office : |
14 Ali Basha Ibrahim Street, Sidi Bishr , Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1981 |
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Com. Reg. No.: |
97593, Alexandria |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of household items. |
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$ 200,000 |
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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 – 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 AMIN IMPORT & EXPORT ESTABLISHMENT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1981
Commercial Registration Number : 97593, Alexandria
Invested Capital : £E 250,000
Total Workforce : 59
Activities : Distributors of household items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL AMIN IMPORT &
EXPORT ESTABLISHMENT
company ADDRESS
Registered & Physical
Address
Street : 14 Ali Basha Ibrahim Street
Area : Sidi Bishr
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5488262 / 5407574 / 5409730
Facsimile : (20-3) 5409730 / 5530307
Email : aminmy@dataxprs.com.eg
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Office (s)
Location Description
·
El Noaman Street Warehouse
premises
King Marriout, Sidi Bishr
Alexandria
KEY PRINCIPALS
Name Position
·
Mohamed
Mohamed Amin Hanafy Proprietor
& General Manager
·
Tamer
Mohamed Amin Hanafy Deputy
General Manager
·
Tarek
Abdallah Finance
Manager
·
Mohsen
Mesbah Administration Manager
LEGAL FORM & OWNERS
Date of Establishment : 1981
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 97593, Alexandria
Invested Capital
: £E 250,000
Mr Mohamed Mohamed
Amin Hanafy is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
household items, including chinaware, glassware, pottery
and porcelain articles.
Import
Countries: Hong Kong,
China, Indonesia, Taiwan, Turkey and Kuwait.
Export Countries: Libya and Morocco.
Operating Trend: Steady
Subject has a
workforce of 59 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E 18,800,000 £E 20,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Bank of
Alexandria
6 Salah Salem Street
Alexandria
Tel: (20-3) 4824056
·
Societe
Arabe International De Banque
Islamic Operations Branch
Borg Al Khaleej Building
Al Gomhoureya Street
Port Said
Tel: (20-66) 3227640
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Al Amin Import
& Export Establishment has been trading since 1981 and is engaged in the import and
distribution of household items. The business is a Sole Proprietorship owned by
Mr Mohamed Mohamed
Amin Hanafy, who is a respected member of the local business community.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
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UK Pound |
1 |
Rs.82.44 |
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Euro |
1 |
Rs.71.08 |
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.