MIRA INFORM REPORT

 

 

Report Date :           

10.01.2012

 

IDENTIFICATION DETAILS

 

Name :

EL ENANI COMPANY FOR IMPORT AND EXPORT

 

 

Registered Office :

Shimy Road, Badrashein, Giza, P O Box 228, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1978

 

 

Com. Reg. No.:

268577

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Import, packaging and distribution of tea

 

 

No. of Employees :

220

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 200,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : EL ENANI COMPANY FOR IMPORT AND EXPORT

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 1978

Commercial Registration Number            : 268577

Issued Capital                                        : £E 300,000

Paid up Capital                                      : £E 300,000

Total Workforce                                     : 220

Activities                                               : Import, packaging and distribution of tea.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Abd El Sattar El Sayed, Finance Manager

 

COMPANY NAME

 

EL ENANI COMPANY FOR IMPORT AND EXPORT

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Shimy Road

Area                 : Badrashein, Giza

PO Box             : 228

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 38034961 / 38034962 / 38034963

Facsimile          : (20-2) 38024292

Mobile               : (20-12) 0329004

Email                : enanico@access-com.eg

 

Premises

Subject operates from a large suite of offices that are rented and located in the Suburban Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       10 El Gomhoureya Street                                                                   Rented sales office

     Badrashein, Giza

     Tel: (20-2) 38022403

     Fax: (20-2) 38334589

 

·       3rd Industrial Zone                                                                             Owned factory premises

6th of October City

Tel: (20-2) 38334117

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Adel Abbass Abd El Fattah El Enani                                                   Managing Partner

 

·       Shareef Abd El Raouf Abd El Fattah El Enani                                      Partner

 

·       Mohamed Abbass El Enani                                                                Partner

 

·       Abd El Sattar El Sayed                                                                      Finance Manager

 

·       Bayoumi Ali                                                                                      Administration Manager

 

·       Mohamed Zahran                                                                              Warehouse Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1978

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 268577

 

Issued Capital              : £E 300,000

 

Paid up Capital            : £E 300,000

 

Name of Shareholder (s)

·       Adel Abbass Abd El Fattah El Enani

·       Shareef Abd El Raouf Abd El Fattah El Enani

·       Mohamed Abbass El Enani

 

 

OPERATIONS

 

Activities: Engaged in the import, packaging and distribution of tea.

 

Import Countries: India and Kenya.

 

Brand Names: EL WARDA

 

Operating Trend: Steady

 

Subject has a workforce of approximately 220 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                £E 39,500,000                           £E 41,200,000

 

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

24 Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

·       Societe Arabe Internationale De Banque

     56 Gamaet El Dewal El Arabia Street

     Mohandeseen, Giza

     Cairo

     Tel: (20-2) 37499463

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              November 2007

Credit amount                                        100,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

GENERAL COMMENTS

 

El Enani Company For Import And Export is well established in the local market with operations dating back to 1978. The company specialises in the import, packaging and distribution of tea.

 

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.52.73

UK Pound

1

Rs.81.34

Euro

1

Rs.67.01

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.