MIRA INFORM REPORT
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Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
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Name : |
AL AMIR COMPANY FOR GINNING AND COTTON EXPORT
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Registered Office : |
Bin Mazar, Takseem
No. 5, Elmenya |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2005 |
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Com. Reg. No.: |
1023 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Ginning and export of cotton |
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$ 400,000 |
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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
|
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 AMIR COMPANY FOR GINNING AND COTTON EXPORT
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2005
Commercial Registration Number : 1023
Tax Card Number : 386-363-119
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Total Workforce : 75
Activities : Ginning and export of cotton.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
Person Interviewed : Saad Ramadan, Sales Manager
COMPANY NAME
AL AMIR COMPANY FOR GINNING AND COTTON
EXPORT
company ADDRESS
Registered &
Physical Address
Location : Bin Mazar, Takseem No. 5
Town : Elmenya
Country : Egypt
Telephone : (20-86) 7840512
Facsimile : (20-86) 7840512
Mobile : (20-100) 1997297 / (20-114)
550809
Email : alamir_co@yahoo.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Elmenya.
Branch Office (s)
Location Description
·
3
Talaat Harb Street Rented
office premises
Al Attarin
Alexandria
Tel: (20-3) 4856345 / 4856185
Fax: (20-3) 4804391
KEY PRINCIPALS
Name Position
·
Mamdouh
Farouk Hana Managing
Director
·
Farouk
Farouk Hana Director
·
Al
Hussaini Mostafa Mohamed Director
·
Abdul
Salam Badr Eddine General
Manager
·
Mahmoud Ahmed Mahmoud Finance
Manager
·
Saad Ramadan Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 1023
Tax Card No. : 386-363-119
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Name of
Shareholder (s)
·
Mamdouh
Farouk Hana
·
Farouk
Farouk Hana
·
Al
Hussaini Mostafa Mohamed
AFFILIATED COMPANIES
·
El Wafa For Cotton Trading & Export
Sidi Bisher
Kafr El Sheikh
Tel: (20-47)
2680633
Fax: (20-47)
2680633
OPERATIONS
Activities: Engaged in the ginning and export of
cotton.
Import
Countries: India and Italy
Export
Countries: Europe, India
and Pakistan
Operating Trend: Steady
Subject has a
workforce of 75 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 106,000,000 £E 110,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Saad Ramadan, Sales
Manager
BANKERS
·
National
Bank of Egypt
21 Tosson Street
Alexandria
Tel: (20-3) 4824802 / 4825715
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.77.58 |
|
Euro |
1 |
Rs.67.58 |
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.