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Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
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Name : |
NEW TREND TRADING COMPANY |
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Registered Office : |
20 El Nozha Street Ard El Golf |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.02.2003 |
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Reg. No.: |
354089 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of primary and auxiliary chemicals for textiles and
dyeing. |
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No. of Employees : |
8 |
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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 |
Egypt - ECONOMIC OVERVIEW
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed to public discontent. After unrest erupted in January 2011, the Egyptian Government drastically increased social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction are among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow at least through 2012. The government is utilizing foreign exchange reserves to support the Egyptian pound and Egypt may seek a loan from the International Monetary Fund.
|
Source : CIA |
Company Name : NEW TREND TRADING COMPANY
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
1st February 2003
Commercial Registration Number :
354089, Cairo
Issued Capital :
£E 50,000
Paid up Capital :
£E 50,000
Total Workforce :
8
Activities :
Distributors of primary and auxiliary chemicals for textiles and dyeing.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Marie Nabil, Administration Executive
NEW TREND TRADING COMPANY
Registered &
Physical Address
Street : 20 El Nozha
Street
Area : Ard El Golf
Town : Cairo
Country : Egypt
Telephone : (20-2) 22900719
Facsimile : (20-2)
24144489
Mobile : (20-122)
1138804 / 1706020
Email : secretary@newtrend.com
/ newtrend.chem@link.net
Premises
Subject operates from a small suite of offices and a warehouse that are rented
and located in the Central Business Area of Cairo.
Please note that subject plans to move to the below address very soon:
5 Kamal Hassan Ali Street
Sheraton, Heliopolis
Cairo
Tel: (20-2) 22696566
Fax: (20-2) 22696577
Name Position
Atif Boshara Habib Managing
Partner
Hussam Yousef Partner
Nancy Samy Financial
Controller
Marie Nabil Administration
Executive
Date of Establishment : 1st
February 2003
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 354089, Cairo
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of
Shareholder (s)
Atif Boshara Habib
Hussam Yousef
Activities: Engaged in the import and distribution of primary and auxiliary
chemicals for textiles and dyeing.
Import Countries: Europe and the Far East.
International Suppliers:
Textile Colour Switzerland
Meera Dyestuff India
Operating Trend: Steady
Subject has a workforce of 8 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
7,140,000 £E
7,855,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Arab African International Bank
5 El Saraya El Kobira Square
PO Box: 60, Magles El Shaab
Cairo
Tel: (20-2) 33545094
Fax: (20-2) 33558493
No complaints regarding subject’s payments have been reported.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
|
|
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
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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.