MIRA INFORM REPORT
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Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
AQUASTAR TRADING & IMPORTING |
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Registered Office : |
13 El Tabia Buildings,
Flat No. 12, Sidi Bishr, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1998 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of swimming pool requisites |
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No. of Employees
: |
10 |
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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Maximum Credit Limit : |
US$ 150,000 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Egypt |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
SUMMARY
Company Name : AQUASTAR TRADING & IMPORTING
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1998
Invested Capital : £E 50,000
Total Workforce : 10
Activities : Distributors of swimming pool requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AQUASTAR TRADING & IMPORTING
company ADDRESS
Registered &
Physical Address
Building : 13 El Tabia Buildings, Flat No.
12
Area : Sidi Bishr
Town : Alexandria
Country : Egypt
Telephone : (20-3) 3597280 / 3597288
Facsimile : (20-3) 3597280 / 3580600
Mobile : (20-122) 2180962 / 6115799
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Baher
Zaher Proprietor
& General Manager
·
Walaa
Gharib Import
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Sole Proprietorship
Invested Capital
: £E 50,000
Mr Baher Zaher is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
swimming pool requisites, including chemicals, pumps, building materials and
accessories.
Import
Countries: Europe and the
Far East.
Agencies Held:
·
ESPA
·
FLEXINON
·
HAYWARD
·
PAHLEN
·
HYDROSWIM
·
RILAX
·
GEMES
·
SANTEM
·
CTX
·
AQUA DOLPHIN
·
DECO TILES
·
EMAUX
Operating Trend: Steady
Subject has a
workforce of 10 employees.
FINANCIAL DATA
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 8,110,000 £E 8,425,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of Egypt
Alexandria
Tel: (20-3) 5701930
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business 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.49.13 |
|
UK Pound |
1 |
Rs.77.85 |
|
Euro |
1 |
Rs.64.78 |
RATING EXPLANATIONS
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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 |
|
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 |
|
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NB |
New Business |
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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.