MIRA INFORM
REPORT
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Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
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Name : |
ELFATH FOR SPECIFIC CHEMICALS |
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Registered Office : |
El Fardos Tower, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1987 |
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Com. Reg. No.: |
244869 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of chemicals and metal coating requisites |
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No. of Employees
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20 |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : ELFATH FOR SPECIFIC CHEMICALS
Also Known As : EL FATH CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1987
Commercial Registration Number : 244869
Tax Card Number : 100-027-482
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 20
Activities : Distributors of chemicals and metal coating requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Ibrahim Hamed Abdul Ghani, Managing Partner
ELFATH FOR SPECIFIC
CHEMICALS
EL FATH CO
Registered &
Physical Address
Building : El Fardos Tower
Street : 19 B El Fardos Street,
Extension
Area : Abbasseya
Town : Cairo 13711
Country :
Telephone : (20-2) 26849657 / 26821190
Facsimile : (20-2) 26849657
Mobile : (20-122) 2110468
Email : ibrahimhamed50@gmail.com
Premises
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
·
14 Darb
El Baraka Office
premises
Bab El Sheareya
Daher
Tel:
(20-2) 25918728
Name Position
·
Ibrahim
Hamed Abdul Ghani Managing
Partner
·
Hemat
Mohamed Fathy Partner
·
Ahmed
Abd El Aziz Finance
Manager
·
Ashraf
Abbass Sales
Manager
·
Shayma
Hussain Administration
Manager
Date of Establishment : 1987
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 244869
Tax
Card No. : 100-027-482
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Shareholder
(s) Percentage
·
Ibrahim
Hamed Abdul Ghani 50%
·
Hemat
Mohamed Fathy 50%
Activities: Engaged in the import and distribution of
chemicals and metal coating requisites.
Import
Countries: United Kingdom,
France, Finland and India.
International
Suppliers:
·
Grauer
& Weil (India) Ltd (Growel) India
Operating Trend: Steady
Subject has a
workforce of 20 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 7,251,542 £E 7,921,688
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Misr
Tel: (20-2) 23912711 / 23912106
Fax: (20-2) 23919779
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.51.66 |
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UK Pound |
1 |
Rs.81.80 |
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Euro |
1 |
Rs.67.18 |
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.