MIRA INFORM
REPORT
|
Report Date : |
24.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
TANNERY AHMED EL SHAFEI SONS CO |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
1968 |
|
|
|
|
Com. Reg. No.: |
68812 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Operation of a tannery as well as the export of leather products. |
|
|
|
|
No. of Employees
: |
45 |
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$ 150,000 |
|
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 |
Company Name : TANNERY AHMED EL SHAFEI SONS CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1968
Commercial Registration Number : 68812
Industrial Registration Number : 2389
Tax Card Number : 329-575-600
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Total Workforce : 45
Activities : Operation of a tannery as well as the export of leather products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
TANNERY AHMED EL SHAFEI SONS CO
Registered &
Physical Address
Street : Dr
Abbass Street
Area : Ard
El Madabegh
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4413401
Facsimile : (20-3) 4448113
Premises
Subject operates
from a medium sized suite of offices and a tannery that are owned and located
in the Suburban Business Area of Alexandria.
Name Position
·
Mohamed El Shafei Managing
Partner
·
Ossama El Shafei Partner
·
Naglaa
Arafa Import
Manager
Date of Establishment : 1968
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 68812
Industrial Reg. No. : 2389
Tax Card No. : 329-575-600
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of Shareholder
(s) Percentage
·
Mohamed El Shafei 35%
·
Ossama El Shafei 35%
·
Members
of the El Shafei family 30%
Activities: Engaged in the operation
of a tannery as well as the export of leather products.
Import
Countries: Spain, India, South Korea, Turkey, China, Uruguay and
Germany
Export
Countries: Spain, India,
Italy, China, Germany, Sudan, Lebanon and Libya
Operating Trend: Steady
Subject has a
workforce of 45 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 7,000,000 £E 7,860,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
International Bank
35 Abd El Khalek Sarwat Street
Cairo
Tel: (20-2) 33916391
Fax: (20-2) 33916233
·
Arab
Banking Corporation
PO Box: 781
Cairo
Tel: (20-2) 25745488 / 25780417
Fax: (20-2) 25780416
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.68.84 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.