MIRA INFORM REPORT
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Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
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Name : |
EL SALAM IMPORT & EXPORT |
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Registered Office : |
13 Elasaily Street,
Attaba, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.06.2003 |
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Com. Reg. No.: |
153868, Giza |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of hand tools, power tools and
related accessories |
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 : |
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) |
|
Egypt |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
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 : EL SALAM IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Start Date : 1997
Registration Date : 23rd June 2003
Commercial Registration Number : 153868, Giza
Tax Card Number : 733-044-719
Invested Capital : £E 100,000
Total Workforce : 8
Activities :
Wholesale and retail of hand tools,
power tools and related
accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Saad Mohamed Abdul Samie, Proprietor
COMPANY NAME
EL SALAM IMPORT & EXPORT
company ADDRESS
Registered &
Physical Address
Street : 13 Elasaily Street
Area : Attaba
Town : Cairo
Country : Egypt
Telephone : (20-2) 27878343
Facsimile : (20-2) 22590618
Mobile : (20-11) 5557574 / (20-10)
7369997
Email : smatool@gmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Saad Mohamed Abdul Samie Proprietor
& General Manager
·
Ibrahim
Mohamed Abdul Samie Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 1997, however it was registered on 23rd June
2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 153868, Giza
Tax Card No. : 733-044-719
Invested Capital
: £E 100,000
Mr Saad Mohamed Abdul
Samie is the sole proprietor of
the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
hand tools, power tools and related accessories.
Import
Countries: India
International
Suppliers:
·
Cast
& Forge India
Brand Names: SMA
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 8,200,000 £E
9,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 5703043
Fax: (20-2) 5703172 / 5072691
·
Credit
Agricole Egypt
4/6 Hassan Sabry Street
Cairo
Tel: (20-2) 27382661
Fax: (20-2) 27380450
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 company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.93 |
|
UK Pound |
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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 |
|
<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.