MIRA INFORM REPORT

Report Date :

14.01.2012

IDENTIFICATION DETAILS

Name :	FRESH FRUIT CENTER IMPORT EXPORT

Registered Office :	14 Iran Street, Dokki, Giza, Cairo

Country :	Egypt

Financials (as on) :	31.12.2010

Year of Establishment :	1994

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of fresh fruit, vegetables and grains

No. of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 150,000
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 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Egypt

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : FRESH FRUIT CENTER IMPORT EXPORT

Country of Origin : Egypt

Legal Form : Sole Proprietorship

Registration Date : 1994

Invested Capital : £E 200,000

Total Workforce : 20

Activities : Distributors of fresh fruit, vegetables and grains.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 150,000

COMPANY NAME

FRESH FRUIT CENTER IMPORT EXPORT

company ADDRESS

Registered & Physical Address

Street : 14 Iran Street

Area : Dokki, Giza

Town : Cairo

Country : Egypt

Telephone : (20-2) 33379638 / 33361905 / 33361906 / 37619995

Facsimile : (20-2) 33379623

Premises

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

Branch Office (s)

Location Description

· 220 El Horreya Road Warehouse premises

Alexandria

Tel: (20-3) 5972522

Fax: (20-3) 5972522

KEY PRINCIPALS

Name Position

· Mostafa El Naggary Proprietor & General Manager

· Zeinab Abd El Hamid Finance Manager

· Hassan El Naggary Marketing Manager

LEGAL FORM & OWNERS

Date of Establishment : 1994

Legal Form : Sole Proprietorship

Invested Capital : £E 200,000

Mr Mostafa El Naggary is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of fresh fruit, vegetables and grains.

Import Countries: United Kingdom

Export Countries: United States of America, Chile, Kuwait, South Africa, Saudi Arabia, United Arab Emirates,

Romania, Turkey, United Kingdom, Germany, Netherlands and GCC countries.

Operating Trend: Steady

Subject has a workforce of 20 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: Egyptian Pound (£E)

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

Total Sales £E 14,375,000 £E 14,750,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· Banque du Caire SAE

22 Adly Street

PO Box: 1495

Cairo

Tel: (20-2) 33904554

Fax: (20-2) 33908992

· Export Development Bank of Egypt

108 Mohi El Din Abu El Ezz Street

Mohandessin

Cairo 11111

Tel: (20-2) 33619005 / 33385877

Fax: (20-2) 33385940 / 33385938

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the business 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.51.43
UK Pound	1	Rs.79.10
Euro	1	Rs.66.17

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%)

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