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Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MINA TRADING
COMPANY |
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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 : |
2000 |
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Com. Reg. No.: |
156848 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of spices and chemicals used in the paint and detergent
industries. |
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No. of Employees : |
10 |
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$ 125,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Egypt |
A2 |
A2 |
|
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 |
Company Name : MINA TRADING COMPANY
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 2000
Commercial
Registration Number : 156848
Tax Card Number : 298-287-358
Issued Capital : £E
50,000
Paid up Capital : £E
50,000
Total Workforce : 10
Activities :
Distributors of spices and chemicals used in the paint and detergent
industries.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 125,000
MINA TRADING
COMPANY
Street : 10 Mahmoud Fahmy El Nokrashy
Street
Area : El Manshia
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4861792 / 4850853
Facsimile : (20-3) 4832992
Mobile : (20-12) 2338089
Email : mina_blamon@yahoo.com
Subject operates from
a small suite of offices, a showroom and a warehouse that are rented and
located in the Central Business Area of Alexandria.
Branch Offices
Location Description
·
Kabary
High Road Warehouse
premises
Alexandria
Name Position
·
Mina Blamon Aziz Managing
Partner
·
Shanoda Blamon Aziz Partner
·
Baron Aziz General
Manager
·
Abdou
Wagdy Import
Manager
Date of Establishment : 2000
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 156848
Tax Card No. : 298-287-358
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
·
Mrs Mina Blamon Aziz
·
Shanoda Blamon Aziz
Activities: Engaged in the import and distribution of
spices and chemicals used in the paint and detergent industries.
Import
Countries: Canada, Turkey,
India, Brazil and Argentina.
Operating Trend: Steady
Subject has a
workforce of 10 employees.
Financial highlights
provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 7,500,000 £E 7,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Suez
Canal Bank
60 El Horreya Road
Raml Station
Alexandria
Tel: (20-3) 4865514
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.54 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.56 |
RATING EXPLANATIONS
|
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 |
|
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 |
|
-- |
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.