MIRA
INFORM REPORT
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Report Date : |
07.10.2011 |
IDENTIFICATION DETAILS
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Name : |
VENUS CHEMICALS EGYPT |
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Registered Office : |
10 Hashim Al Ashqar Street, 4th
Floor El Nozha El Gedida Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
25.12.2008 |
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Com. Reg. No.: |
27208, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of chemicals |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 : VENUS CHEMICALS EGYPT
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 25th December 2008
Commercial Registration Number : 27208, Cairo
Tax Card Number : 303-657-057
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 15
Activities : Import and distribution of chemicals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
Person Interviewed : Hussam Hassan, Commercial Manager
COMPANY NAME
VENUS CHEMICALS EGYPT
ADDRESS
Registered & Physical Address
Street : 10 Hashim Al Ashqar Street, 4th Floor
Area : El Nozha El Gedida
Town : Cairo
Country : Egypt
Telephone : (20-2) 26216156
Facsimile : (20-2)
26216156
Mobile : (20-10) 4856700
Email : sales@venuschem-eg.com
Please note that 4 Abd El Moneam Elbehery Street, El Nozha El Gedida,
Cairo was subject’s previous address.
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Cairo.
KEY PRINCIPALS
Name Nationality Position
· Ahmed Gamal Mohamed El Ghoul Jordanian Managing Partner
· Mohamed Gamal Mohamed El Ghoul - Partner
· Hussam Hassan - Commercial
Manager
· Samiha Mohamed - Administrative
Officer
LEGAL FORM & OWNERS
Date of
Establishment : 25th
December 2008
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 27208, Cairo
Tax Card No. : 303-657-057
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Shareholder (s)
· Ahmed Gamal Mohamed El Ghoul
· Mohamed Gamal Mohamed El Ghoul
OPERATIONS
Activities: Engaged in the import and distribution of chemicals.
Import Countries: India, Spain, Sweden and Turkey
International Suppliers:
· Deepchem India
· Madhu Silca India
· Proqui Mac Colour Spain
· Alabkim Turkey
· Carlfors Bruk Sweden
· Spol Chemie Czech Republic
· Socer
Brasil Indústria e Comércio Ltda Brazil
Subject has a workforce of 15 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/03/10: Year
Ending 31/03/11:
Total Sales £E
66,000,000 £E
70,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Hussam Hassan,
Commercial Manager
BANKERS
·
National Bank for Development
Heliopolis Branch
Cairo
Tel: (20-2)
4543396
Fax:
(20-2) 2587089
Acc No.
860559
Swift
Code NBDEEGCXXXX
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.19 |
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|
1 |
Rs.75.92 |
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Euro |
1 |
Rs.65.44 |
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.