MIRA INFORM REPORT

Report Date :

22.12.2012

IDENTIFICATION DETAILS

Name :	AMGAD FOR IMPORT & EXPORT
Registered Office :	Sanfa Meet Ghamr Dakahlia
Country :	Egypt
Date of Incorporation :	01.06.2011
Com. Reg. No.:	12578, Dakahlia
Legal Form :	Sole Proprietorship
Line of Business :	Distributors of cotton, threads and yarns
No. of Employees :	12

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

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ECGC Country Risk Classification List – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	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

SUMMARY

Company Name : AMGAD FOR IMPORT & EXPORT

Country of Origin : Egypt

Legal Form : Sole Proprietorship

Registration Date : 1^st June 2011

Commercial Registration Number : 12578, Dakahlia

Tax Card Number : 374-600-708

Invested Capital : £E 200,000

Total Workforce : 12

Activities : Distributors of cotton, threads and yarns

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : Mohganed Ali Mohamed El Hefnawi, Proprietor

COMPANY NAME

AMGAD FOR IMPORT & EXPORT

ADDRESS

Registered & Physical Address

Location : Sanfa Meet Ghamr

Town : Dakahlia

Country : Egypt

Telephone : (20-40) 2246953

Facsimile : (20-40) 2238781

Mobile : (20-106) 1112008

Email : ayman.omega@hotmail.com

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dakahlia.

Branch Office (s)

Location Description

· Ard El Ghanam Warehouse premises

Plot No. 4

El Mahalla El Kubra

Dakahlia

Tel: (20-40) 2226821

Fax: (20-40) 2222315

· Makram Obaid Office premises

Nasr City

Cairo

Tel: (20-2) 26711425

KEY PRINCIPALS

Name Position

· Mohamed Ali Mohamed El Hefnawi Proprietor & General Manager

· Ayman Maadi Assistant General Manager

LEGAL FORM & OWNERS

Date of Establishment : 1^st June 2011

Legal Form : Sole Proprietorship

Commercial Reg. No. : 12578, Dakahlia

Tax Card No. : 374-600-708

Invested Capital : £E 200,000

Mr Mohamed Ali Mohamed El Hefnawi is the sole proprietor of the business.

AFFILIATED COMPANIES

· New Bird Co.

City Light Tower, 7^th Floor, 1 Makram Obaid

Nasr City

Cairo

Tel: (20-02) 26711325

Fax: (20-02) 26714907

OPERATIONS

Activities: Engaged in the import and distribution of cotton, threads and yarns.

Import Countries: Europe and the Far East.

Subject has a workforce of 12 employees.

FINANCIAL DATA

Subject is a newly formed business and as a result financial information is not currently available.

BANKERS

· Citibank

PO Box: 188

Cairo

Tel: (20-2) 33551877 / 33551874

Fax: (20-2) 33558056

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.08
UK Pound	1	Rs.89.53
Euro	1	Rs.72.77

INFORMATION DETAILS

Report Prepared by :

PRL

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%)

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