MIRA INFORM REPORT
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Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KING SEED FOR PRODUCE AGRICULTURAL SEEDS |
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Registered Office : |
El
Farg Building, 6th Floor, International Bus Station Street,
Mansoura |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.02.2002 |
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Com. Reg. No.: |
106503, Mansoura |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of agricultural seeds, crops, fertilizers and pesticides. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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) |
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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 : KING SEED FOR PRODUCE AGRICULTURAL SEEDS
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1st February 2002
Commercial Registration Number : 106503, Mansoura
Tax Card Number : 496-933-906
Invested Capital : £E 100,000
Total Workforce : 8
Activities : Distributors of agricultural seeds, crops, fertilizers and pesticides.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
KING
SEED FOR PRODUCE AGRICULTURAL SEEDS
company ADDRESS
Registered &
Physical Address
Building : El Farg
Building, 6th Floor
Street : International
Bus Station Street
Town : Mansoura
Country :
Egypt
Telephone : (20-50) 9100269
Facsimile : (20-50) 9100269
Mobile : (20-10) 4021120
Email : w_elgazar2002@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Mansoura.
KEY PRINCIPALS
Name Position
·
Dr Wahba Ali El Sayed El Gazzar Proprietor
& General Manager
·
Sayed Mohamed Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
February 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 106503,
Mansoura
Tax Card No. : 496-933-906
Invested Capital
: £E 100,000
Dr
Wahba Ali El Sayed El Gazzar is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
agricultural seeds, crops, fertilizers and pesticides.
Import
Countries: Italy, Turkey
and India.
Operating Trend: Steady
Subject has a
workforce of 8 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E 7,100,000 £E 7,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Faisal
Islamic Bank of Egypt
1 Talaat Harb Street
El Mansoura
Tel: (20-50) 2319965
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
and the above credit figure is considered to be within subject’s financial
means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.18 |
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UK Pound |
1 |
Rs.76.65 |
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Euro |
1 |
Rs.66.63 |
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.