MIRA INFORM REPORT

 

 

Report Date :           

18.01.2012

 

IDENTIFICATION DETAILS

 

Name :

ARAB TRADE, INVESTMENT & COTTON TRADING SAE (ATICOT)

 

 

Registered Office :

Ismailia Square, 18 Yaccoub Artin Street, Heliopolis, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1986

 

 

Com. Reg. No.:

239186, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company  

 

 

Line of Business :

Distributors of raw cotton

 

 

No. of Employees :

150

 

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$ 1,000,000

Status :

Good

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                                     : ARAB TRADE, INVESTMENT & COTTON TRADING SAE (ATICOT)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1986

Commercial Registration Number                        : 239186, Cairo

Tax Card Number                                   : 200-001-299

Issued Capital                                        : £E 40,000,000

Paid up Capital                                      : £E 40,000,000

Total Workforce                                     : 150

Activities                                               : Distributors of raw cotton.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,000,000

COMPANY NAME

 

ARAB TRADE, INVESTMENT & COTTON TRADING SAE (ATICOT)

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Ismailia Square

Street               : 18 Yaccoub Artin Street

Area                 : Heliopolis

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 24171034 / 22903122

Facsimile          : (20-2) 22916570

 

Premises

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

 

·       20 Al Gomhoreya                                                                              Office & Warehouse premises

Abdin

Cairo

Tel: (20-2) 23957744

Fax: (20-2) 23958040

 

·       7A Sherif Street                                                                                Office & Warehouse premises

Mina El Basal

Alexandria

Tel: (20-3) 3621704

Fax: (20-3) 3629885

 

·       11 Abou El Riesh Street                                                                    Office & Warehouse premises

Damanhour

Beheira

Tel: (20-45) 3322378

Fax: (20-45) 3302944

 

·       29 Port Said Street                                                                            Office & Warehouse premises

Samalot

Minia

Tel: (20-86) 7719806

 

·       El Gergaweya Building                                                                       Office & Warehouse premises

Assiut

Tel: (20-93) 2314119

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Ezz El Din Maghraby El Dabah                                                          Chairman

 

·       Amal Saad Mohamed                                                                        Director

 

·       Soheir Mahmoud                                                                               Director

 

·       Mohamed Mahmoud Nofal                                                                  Director

 

·       Mahmoud Mohamed Mahmoud Lotfy                                                   Director

 

·       Mahmoud Fahmi Amin                                                                       Director

 

·       Amal Saad Mohamed                                                                        Finance Manager

 

·       Nadia Kamel                                                                                     Area Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1986

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 239186, Cairo

 

Tax Card Number        : 200-001-299

 

Issued Capital              : £E 40,000,000

 

Paid up Capital            : £E 40,000,000

 

Name of Shareholder (s)                                                    Percentage

 

·       Ezz El Din Maghraby El Dabah                                              59.8%

 

·       Soheir Mohamed Mahmoud Lotfy                                ]

                                                                                    ]

·       Ahmed Ezz El Din El Dabah                                      ]

]

·       Zinab Ezz El Din El Dabah                                         ]           40.2%

]

·       Nahla Ezz El Din El Dabah                                        ]

]

·       Nourhan Ezz El Din El Dabah                         ]

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of raw cotton.

 

Import Countries: Russia, Syria and Greece

 

Export Countries: Turkey, India, Germany and the United States of America

 

Operating Trend: Steady

 

Subject has a workforce of 150 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 103,337,324                         £E 107,943,166

 

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

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.06

UK Pound

1

Rs.78.48

Euro

1

Rs.64.99

 

 

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.