MIRA INFORM REPORT
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Report Date : |
22.09.2011 |
IDENTIFICATION DETAILS
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Name : |
AUTO IVECO PARTS CO |
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Registered Office : |
14 Zakaria Ahmed
Street , Tawfekia, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1974 |
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Com. Reg. No.: |
819317, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of motor vehicle spare parts |
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$ 150,000 |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Egypt |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : AUTO IVECO PARTS CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1974
Commercial Registration Number : 819317, Cairo
Tax Card Number : 271-098-635
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 40
Activities : Distributors of motor vehicle spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AUTO IVECO PARTS CO
company ADDRESS
Registered &
Physical Address
Street : 14 Zakaria Ahmed Street
Area : Tawfekia
Town : Cairo
Country : Egypt
Telephone : (20-2) 25799636 / 25741008 / 27883165
Facsimile : (20-2) 25799636 / 25741008
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area Cairo.
Branch Office (s)
Location Description
·
253
Shoubra Street Office
premises
El Khalafaw
Shoubra
Cairo
Tel: (20-2) 25241008
·
Dawlatian
Street Showroom
premises
Shoubra
Cairo
·
Guesr
El-Suez Warehouse
premises
Heliopolis
Cairo
KEY PRINCIPALS
Name Position
·
Ayman
El Masarany Managing
Partner
·
Amgad
El Masarany Partner
·
Michel
El Masarany Partner
·
Lucy
Nadar General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1974
Legal Form :
Limited Liability Partnership
Commercial Reg. No. : 819317, Cairo
Tax
Card No. : 271-098-635
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder
(s)
·
Ayman
El Masarany
·
Amgad
El Masarany
·
Michel
El Masarany
OPERATIONS
Activities: Engaged in the import and distribution of
motor vehicle spare parts.
Import
Countries: Italy
Operating Trend: Steady
Subject has a
workforce of 40 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 16,300,000 £E 16,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Ahli
United Bank
40 Shoubra Street
Cairo
Tel: (20-2) 24603778 / 24596896
Fax: (20-2) 24603889
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.47.89 |
|
UK Pound |
1 |
Rs.75.31 |
|
Euro |
1 |
Rs.65.64 |
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 |
|
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 |
|
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.