MIRA
INFORM REPORT
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Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
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Name : |
WAHBA FOR FOOD INDUSTRIES |
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Formerly Known As : |
EL WAHBA EGYPT CO |
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Registered Office : |
Marouf Building, 7th Floor, Suite No. 74 33B Ramsis Street
Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.06.2001 |
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Com. Reg. No.: |
2904 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Processors and packagers of dried foodstuffs. |
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No. of Employees : |
120 |
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$ 500,000 |
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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 30, 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 : WAHBA FOR FOOD INDUSTRIES
Also Known As : EL WAHBA EGYPT CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 21st June 2001
Commercial Registration Number : 2904
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 120
Activities : Processors and packagers of dried foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Hesham Abdulaziz, Finance Manager
COMPANY NAME
WAHBA FOR FOOD INDUSTRIES
ALSO KNOWN AS: EL WAHBA EGYPT CO
ADDRESS
Registered & Physical Address
Building : Marouf
Building, 7th Floor, Suite No. 74
Street : 33B Ramsis
Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 25799781 / 25799782 / 25799783 / 25762488
Facsimile : (20-2) 25799784 / 25799785
Mobile : (20-122)
2180905 / (20-100) 6850089
Email : info@habbahabba.com
/ info@mufaddal.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· 1st
Industrial Zone, Block 12018 Factory
premises
Sector 6/7
El Obour
City
Tel:
(20-2) 46651021 / 46651776
Fax:
(20-2) 46651022
KEY PRINCIPALS
Name Position
· Seif Eddine Abd Ali Gafargi Managing
Partner
· Mufadal Seif Eddine Abd Ali Gafargi Partner
· Kutob Seif Eddine Abd Ali Gafargi Partner
· Hesham Abdulaziz Finance
Manager
· Mohamed Feras Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 21st
June 2001
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 2904
Tax Card No. : 205-125-158
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder (s)
· Seif Eddine Abd Ali Gafargi
· Mufadal Seif Eddine Abd Ali Gafargi
· Kutob Seif Eddine Abd Ali Gafargi
AFFILIATED COMPANIES
· Mufaddal For Food Industries
Cairo
· Hanlico for Food
Cairo
· SQM Enterprises Ltd
United Kingdom
OPERATIONS
Activities: Engaged in the processing and packaging of dried foodstuffs.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 120 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
17,550,000 £E
18,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel: (20-2)
33912711 / 33912106
Fax: (20-2)
33919779
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 |
|
US Dollar |
1 |
Rs.52.10 |
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|
1 |
Rs.81.30 |
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Euro |
1 |
Rs.70.07 |
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 |
-- |
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.