MIRA INFORM REPORT
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Report Date : |
11.01.2012 |
IDENTIFICATION DETAILS
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Name : |
SAIF INTERNATIONAL LTD |
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Registered Office : |
Marouf Building, Suite 74, 33-B Ramsis Street, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1980 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of General Foodstuff Products |
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No. of Employees : |
15 |
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 |
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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 |
SUMMARY
Company Name : SAIF
INTERNATIONAL LTD
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
1980
Issued Capital :
£E 1,000,000
Paid up Capital :
£E 1,000,000
Total Workforce :
15
Activities :
Distributors of general foodstuff products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 150,000
Person Interviewed :
Kutub Saif Uddine Abid Ali, Administration Manager
COMPANY NAME
SAIF INTERNATIONAL
LTD
COMPANY ADDRESS
Registered & Physical Address
Building : Marouf
Building, Suite 74
Street : 33-B Ramsis
Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 25799781
/ 25799782 / 25799783
Facsimile : (20-2)
25799784 / 25799785
Email : saif@mufaddal.com / info@muffadal.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
KEY PRINCIPALS
Name Position
· Saif Uddine Abid
Ali Managing
Partner
· Hamza Saif Uddine Partner
· Kutub Saif Uddine Abid Ali Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1980
Legal Form : Limited Liability
Partnership
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Shareholder (s)
· Mufaddal Traders
279 Sir Ratnajothi
Saravanamuthu
Colombo 13
Sri Lanka
Tel: (94-11) 2433138
Fax: (94-11)
2433099
· Saif Uddine Abid
Ali
· Hamza Saif Uddine
AFFILIATED COMPANIES
· Wahaba for Food
Industries
Marouf Building, Suite 74
33-B Ramsis Street
Cairo
Tel: (20-2) 25799781 / 25799782 / 25799783
Fax: (20-2) 25799784 / 25799785
· Mufaddal for Food
Industries
Marouf Building, Suite 74
33-B Ramsis Street
Cairo
Tel: (20-2) 25799781 / 25799782 / 25799783
Fax: (20-2) 25799784 / 25799785
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff products,
including seeds, cereal, spices, herbs, sugar and dried fruits.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 15 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
9,220,000 £E
9,800,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Arab International Bank
2 El Horreya Road
Cairo
Tel: (20-2)
24829873
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Please note that subject is registered in the United Kingdom and the
office in Egypt is a liaison office.
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.51.74 |
|
UK Pound |
1 |
Rs.80.00 |
|
Euro |
1 |
Rs.65.99 |
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 |
- |
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.