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Report Date : |
05.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1974 |
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Com. Reg. No.: |
39008 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Wholesalers and
retailers of raw cotton yarns |
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No. of Employees : |
35 |
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$ 1,000,000 |
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Status : |
Good |
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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 30, 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 |
Company Name : ALKAN MOHAMED MAHMOUD
NOSSEIR SAE
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 1974
Commercial
Registration Number : 39008
Tax Card Number : 100-410-200
Issued Capital : £E 1,000,000
Paid up Capital : £E
1,000,000
Total Workforce : 35
Activities :
Wholesalers and retailers of raw cotton yarns
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 1,000,000
ALKAN MOHAMED
MAHMOUD NOSSEIR SAE
Street : 2 El Messaha Square
Area : Dokki, Giza
PO Box : 337
Town : Cairo
Country : Egypt
Telephone : (20-2) 37490140 / 37490140 / 37490142
Facsimile : (20-2) 33534691 / 37499253
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
7-8 El
Gazaer Street Factory
premises
El Kamar El Senaie
Maadi
Cairo
Tel: (20-2) 25197784 / 25197781
·
153 Abd
El Salam Aref Street Warehouse
premises
San Istefano
Alexandria
Tel: (20-3) 5858319 / 5858318 / 4500127
Fax: (20-3) 5858318 / 4500124
·
Watermanweg
64.3067 Office
premises
GG Rotterdam
Netherlands
Tel: (31-10) 4478444
Fax: (31-10) 4470470
Name Position
·
Khaled
Mohamed Mahmoud Nosseir Managing
Director
·
Mohamed
El Kashoury General
Manager
·
Nabil
El Santarisy Purchasing
Manager
·
Mahmoud
Abd El Hamid Financial
Manager
·
Ahmed
Al Abd Accounts
Manager
·
Hend
Dief Export
Manager
·
Adel El
Shennawy Administration
Manager
Date of Establishment : 1974
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 39008
Tax
Card No. : 100-410-200
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
·
Alkan
Group 100%
Egypt
Activities: Engaged in the wholesale and retail of raw
cotton yarns.
Export
Countries: Turkey,
Portugal, India and Pakistan.
Operating Trend: Steady
Subject has a
workforce of 35 employees.
Financial highlights
provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 429,000,000 £E 446,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Export
Development Bank of Egypt
Plot 3/1
4th Industrial Region
Giza
6th of October City
Tel: (20-2) 38330577 / 38330599
Fax: (20-2) 38330570 / 38330551
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
No complaints
regarding subject’s payments have been reported.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.04 |
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1 |
Rs.81.08 |
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Euro |
1 |
Rs.67.39 |
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 |
-- |
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.