MIRA INFORM REPORT
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Report Date : |
29.02.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
PYRAMIDS FOR IMPORT, EXPORT & CONTRACTING
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Registered Office : |
El Sayeda Aaesha
Street, 7th District, 6th of October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2006 |
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Com. Reg. No.: |
19089, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of household furniture, paper, stretch film and chemicals |
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No. of Employees
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14 |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Egypt |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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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 : PYRAMIDS FOR IMPORT, EXPORT & CONTRACTING
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2006
Commercial Registration Number : 19089, Cairo
Tax Card Number : 225-390-167
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 14
Activities : Distributors of household furniture, paper, stretch film and chemicals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
PYRAMIDS FOR IMPORT, EXPORT &
CONTRACTING
Registered &
Physical Address
Location : El Sayeda Aaesha Street, 7th
District
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38353545 / 38356855
Facsimile : (20-2) 38353545
Mobile : (20-10) 1466237 / (20-16)
2221117 / (20-12) 3382439
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of 6th of October City.
Name Position
·
Mahmoud
El Sayed Aref Chairman
·
Mohamed
Ahmed Farag Vice
Chairman
·
Hossam El
Din Abd El Moneim Director
Date of Establishment : 2006
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 19089, Cairo
Tax
Card No. : 225-390-167
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder
(s) Percentage
·
Mahmoud
El Sayed Aref 37.5%
·
Hossam
El Din Abd El Moneim 37.5%
·
Mohamed
Ahmed Farag 25.0%
Activities: Engaged in the import and distribution of household
furniture, paper, stretch film and chemicals.
Import
Countries: China and Italy.
Operating Trend: Steady
Subject has a
workforce of 14 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 7,225,000 £E 9,450,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Export
Development Bank of Egypt
Plot 3/1
4th Industrial Region
Giza
6th of October City
Tel: (20-2) 3330577 / 3330599
Fax: (20-2) 3330570 / 3330551
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.14 |
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UK Pound |
1 |
Rs.77.86 |
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Euro |
1 |
Rs.66.06 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<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.