MIRA INFORM REPORT

 

 

Report Date :           

17.04.2012

 

IDENTIFICATION DETAILS

 

Name :

MADINA EL MENAWARA FOR IMPORT & EXPORT CO

 

 

Registered Office :

3, 4 & 7 Ibn Hanbl Street (Off Mahmoud Fahmy El Noqrashy Street), El Manshia, Alexandria

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

09.10.1991

 

 

Com. Reg. No.:

141191, Cairo

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Import, repackaging and distribution of bakery and confectionery raw materials whipped chocolate powder and bars

 

 

No. of Employees :

25

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 400,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : MADINA EL MENAWARA FOR IMPORT & EXPORT CO

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 9th October 1991

Commercial Registration Number                        : 141191, Cairo

Issued Capital                                        : £E 8,000,000

Paid up Capital                                      : £E 8,000,000

Total Workforce                                     : 25

Activities                                               : Import, repackaging and distribution of bakery and confectionery raw

                                                              materials whipped chocolate powder and bars.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 400,000

Person Interviewed                                 : Mohamed Ahmed Moussa, Managing Partner

 

 

 

COMPANY NAME

 

MADINA EL MENAWARA FOR IMPORT & EXPORT CO

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 3, 4 & 7 Ibn Hanbl Street (Off Mahmoud Fahmy El Noqrashy Street)

Area                 : El Manshia

Town                 : Alexandria

Country             : Egypt

Telephone         : (20-3) 4804226 / 4813691 / 4813641

Facsimile          : (20-3) 4842635

Mobile               : (20-122) 2191759

Email                : el-madina-el-menawara@hotmail.com

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Suburban Business Area of Alexandria.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Mohamed Ahmed Moussa                                                                 Managing Partner

·       Ali Ahmed Moussa                                                                            Partner

·       Mahmoud Ahmed Moussa                                                                 Partner

·       Moustafa Ahmed Moussa                                                                  Partner

·       Joseph  Michael                                                                                Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 9th October 1991

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 141191, Cairo

 

Issued Capital              : £E 8,000,000

 

Paid up Capital                        : £E 8,000,000

 

Name of Shareholder (s)

·       Mohamed Ahmed Moussa

·       Ali Ahmed Moussa

·       Mahmoud Ahmed Moussa

·       Moustafa Ahmed Moussa

 

 

OPERATIONS

 

Activities: Engaged in the import, repackaging and distribution of bakery and confectionery raw materials whipped chocolate powder and bars.

 

Import Countries: Indonesia, Belgium, Netherlands, United States of America, Syria, Turkey, China, Saudi

     Arabia and Australia.

 

International Suppliers:

 

·       Ashktrim                  Turkey

·       Santos                     Turkey

·       Golden West                        Australia

 

Operating Trend: Steady

 

Subject has a workforce of 25 employees.

 

 

FINANCIAL DATA

 

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 123,500,000                         £E 126,200,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       HSBC Egypt

47 El Sultan Hussain Street

Azarita

Alexandria

Tel: (20-3) 4872949

Fax: (20-3) 4872925

 

·       Commercial International Bank (CIB)

61 Sultan Hussein Street

Alexandria

Tel: (20-3) 4824643 / 4834255

Fax: (20-3) 4832240

 

·       National Bank of Abu Dhabi

28 Salah Salem Street

Alexandria

Tel: (20-3) 4829175

Fax: (20-3) 4847114

 

·       Societe Arabe International De Banque

21 Bany El Abbas Street

Alexandria

Tel: (20-3) 4870057

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                  June 2006                    February 2007              July 2008

Credit amount                            100,000                         100,000                         100,000

Amount overdue                         0                                  0                                  0

Payment terms                          60 days                         60 days                         60 days

Payment Method                                   Letters of Credit             Letters of Credit             Letters of Credit

Paying record                            No Complaints               No Complaints               No Complaints

Currency                                   US Dollars                     US Dollars                     US Dollars

 

 

GENERAL COMMENTS

 

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.51.66

UK Pound

1

Rs.81.80

Euro

1

Rs.67.18

 

 

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

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

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.