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Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
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Name : |
HERAT COMPANY |
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Formerly Known As : |
HERAT FOR IMPORT |
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Registered Office : |
Cortoba Street Damietta |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1975 |
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Com. Reg. No.: |
31412, Damietta |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of general foodstuffs. |
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No. of Employees : |
18 |
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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Egypt |
A2 |
A2 |
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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 |
Company Name : HERAT COMPANY
Also Known As : HERAT FOR IMPORT
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Start Date : 1975
Registration Date : 6th February 1986
Commercial Registration Number : 31412, Damietta
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 18
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mohamed Ali Al Badri Herat, Managing Partner
HERAT COMPANY
ALSO KNOWN AS: HERAT FOR IMPORT
Location : Cortoba
Street
Town : Damietta
Country : Egypt
Telephone : (20-57) 2322092
/ 2342045
Facsimile : (20-57)
2327825
Mobile : (20-122)
2163017
Email : heratco@hotmail.com
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Damietta.
Name Position
· Mohamed Ali Al
Badri Herat Managing
Partner
· Ahmed Ali Al Badri
Herat Partner
· Abdo Ali Al Badri
Herat Partner
Date of
Establishment : Subject’s
operations date back to 1975, however it was registered on 6th February
1986
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 31412, Damietta
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
· Mohamed Ali Al
Badri Herat
· Ahmed Ali Al Badri
Herat
· Abdo Ali Al Badri Herat
· Herat Sweet Co
Cortoba Street
Damietta
Tel: (20-57)
2322092
Fax: (20-57)
2327825
Activities: Engaged in the import and distribution of general foodstuffs, including
almonds, pistachios, cashews,
peanuts,
raisins, coconuts and dried fruits.
Import Countries: United States of America, Spain and India
International Suppliers:
· California Garden
Inc United States of America
· Borger Spain
· Kharomana India
· Bola Company India
· Gazaria Co India
Brand Names: HERAT
Operating Trend: Steady
Subject has a workforce of 18 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
11,800,000 £E
12,350,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
The Nile Bank
El Louzi Street
Damietta
Tel: (20-57)
2324515
Fax: (20-57)
2321915
·
Commercial International Bank (CIB)
122 El Lozy Street
Damietta
Tel: (20-57)
2370919
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 and
the above credit figure is within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
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 |
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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 |
|
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 |
-- |
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.