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Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
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Name : |
NOUR EL SABAH IMPORT & EXPORT |
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Registered Office : |
23 Ahmed Gad Street, Sheikh Hasanin Square, Dakhaliya, Mansoura |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2001 |
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Com. Reg. No.: |
37980, Mansoura |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of general foodstuff products,
including rice, lentils, beans and pulses. |
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No. of Employees : |
8 Employees |
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 |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 :
NOUR EL SABAH IMPORT & EXPORT
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
2001
Commercial Registration Number :
37980, Mansoura
Invested Capital :
£E 60,000
Total Workforce :
8
Activities :
Distributors of general foodstuff products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
NOUR EL SABAH IMPORT & EXPORT
Street : 23 Ahmed Gad
Street
Area : Sheikh
Hasanin Square, Dakhaliya
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2248006
Facsimile : (20-50)
2225001
Mobile : (20-122)
3117381 / (20-100) 6210310
Email : hyber1@hotmail.com / hyber.one@hotmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Mansoura.
Name Position
· Hassan Mahmood
Morsi Proprietor
& General Manager
· Mohamed Hassan
Mahmood Morsi Assistant
General Manager
· Hamada Hussain Sales
Manager
· Mahmood Mishaal Marketing
Manager
Date of
Establishment : 2001
Legal Form : Sole Proprietorship
Commercial Reg.
No. : 37980, Mansoura
Export Licence No. : 70045
Invested Capital : £E 60,000
Mr Hassan Mahmood Morsi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of general foodstuff products,
including rice, lentils, beans and
pulses.
Import Countries: India, China, Thailand and Argentina.
International Suppliers:
· Dhaval Agri Export Ltd India
· Raj Foods International India
· Androlli SA Argentina
· Star Food Ltd China
· Tianjin Jainjhi Guixinjyuan Foods Co Ltd China
· Asanee Ltd Thailand
Operating Trend: Steady
Subject has a workforce of 8 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E
8,585,000 £E
9,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Egyptian Saudi Finance Bank
Suez Canal Street
Mansoura
Tel: (20-50)
2334505
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.54.62 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.