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Report Date : |
20.02.2012 |
IDENTIFICATION DETAILS
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Name : |
EL MARWA PRESERVING & FREEZING VEGETABLES & FRUITS |
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Registered Office : |
64 Hafez Badawy Street Nasr City PO Box 147 Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1989 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Preserving, freezing and distributing of frozen vegetables and fruit. |
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No. of Employees : |
100 |
RATING & COMMENTS
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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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Maximum Credit Limit : |
US$ 200,000 |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : EL MARWA PRESERVING & FREEZING VEGETABLES & FRUITS
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1989
Issued Capital : £E 115,000,000
Paid up Capital : £E 115,000,000
Total Workforce : 100
Activities : Preserving, freezing and distributing of frozen vegetables and fruit.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
EL MARWA PRESERVING & FREEZING VEGETABLES & FRUITS
Street : 64 Hafez
Badawy Street
Area : Nasr City
PO Box : 147
Town : Cairo
Country : Egypt
Telephone : (20-2) 22619886
Facsimile : (20-2) 22619886
Mobile : (20-100)
1204004 / 6699495 / 9517777
Email : info@elmarwafoods.com
Subject operates from a medium sized suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· North Industrial
Zone Factory
and warehouse premises
Street No. 112,
Block 7
El Obour City
Cairo
Tel: (20-2)
46651356 / 46651355 / 46651354
Fax: (20-2)
46651353
Name Position
· Esmat Abd El Aziz Managing
Director
· Mohamed Esmat Abd
El Aziz Director
· Ayman Basha Finance
Manager
· Ashraf El Hamalawy Accounts
Manager
· Mohamed Ezzat Export
Manager
Date of
Establishment : 1989
Legal Form : Egyptian Joint
Stock Company
Issued Capital : £E 115,000,000
Paid up Capital : £E 115,000,000
· Esmat Abd El Aziz
· Mohamed Esmat Abd
El Aziz
Activities: Engaged in the preserving, freezing and distributing of frozen
vegetables and fruit.
Export Countries: Italy, France, Kuwait, Sudan, Saudi Arabia and
Qatar
Brand Names: EL MARWA
Operating Trend: Steady
Subject has a workforce of approximately 100 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
27,000,000 £E
29,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab African 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.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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 |
|
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.