MIRA INFORM REPORT
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Report Date : |
06.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KARMA IMPORT & EXPORT AGENCIES |
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Registered Office : |
El Obour City,
1st Industrial Zone, 190 Street, Block 20031, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
08.05.2005 |
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Com. Reg. No.: |
13867 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Producers food stabilizers,
flavourings, colourings and fragrances |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Moderate |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 : KARMA IMPORT & EXPORT AGENCIES
Also Known As : KARMA FOOD INDUSTRIES
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 8th May 2005
Commercial Registration Number : 13867
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 30
Activities : Producers food stabilizers, flavourings, colourings and fragrances.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
KARMA
IMPORT & EXPORT AGENCIES
ALSO KNOWN AS
KARMA
FOOD INDUSTRIES
company ADDRESS
Registered &
Physical Address
Location : El Obour City, 1st Industrial
Zone, 190 Street, Block 20031
Town : Cairo
Country : Egypt
Telephone : (20-2) 46103445
/ 46103446 / 46103447
Facsimile : (20-2) 46104072
Mobile : (20-10) 2407479
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Riyad
Mahmoud Mohamed El Zawawi Chairman
·
Abdul Salam Mahmoud Mohamed El Zawawi Managing
Director
·
Khalid
Mahmoud Mohamed El Zawawi Director
·
Abdullah
Hassan Finance
Manager
·
Sara
Mohamed Administration
Executive
LEGAL FORM & OWNERS
Date of Establishment : 8th
May 2005
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 13867
Tax Card No. : 08999328350
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of
Shareholder (s)
·
Riyad
Mahmoud Mohamed El Zawawi
·
Abdul Salam Mahmoud Mohamed El Zawawi
·
Khalid
Mahmoud Mohamed El Zawawi
AFFILIATED COMPANIES
·
Karma Z
El Obour City, 1st Industrial Zone, 190 Street, Block 20031
Cairo
Tel : (20-2) 46103445 / 46103446 / 46103447
Fax : (20-2) 46104072
Email : karmaz@tedata.net.eg
OPERATIONS
Activities: Engaged in the production of food stabilizers, flavourings, colourings and
fragrances.
Import
Countries: India
Brand Names: KFF
Subject has a
workforce of 30 employees.
FINANCIAL DATA
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.94 |
|
UK Pound |
1 |
Rs.74.28 |
|
Euro |
1 |
Rs.64.97 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<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.