MIRA
INFORM REPORT
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Report Date : |
27.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AMAGO FOR IMPORT AND EXPORT |
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Registered Office : |
54 Selim El Awal Street El Zeitoun, El Matariya Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1996 |
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Com. Reg. No.: |
294947, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers of chemicals and catalysts used in the textile industry. |
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No. of Employees : |
120 |
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) |
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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 |
SUMMARY
Company Name : AMAGO FOR IMPORT AND EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1996
Commercial Registration Number : 294947, Cairo
Tax Card Number : 237-133-075
Invested Capital : £E 4,000,000
Total Workforce : 120
Activities : Manufacturers of chemicals and catalysts used in the textile industry.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AMAGO FOR IMPORT AND EXPORT
ADDRESS
Registered & Physical Address
Street : 54 Selim El
Awal Street
Area : El Zeitoun,
El Matariya
Town : Cairo
Country : Egypt
Telephone : (20-2) 22405839
/ 26449332
Facsimile : (20-2) 26449332
Email : gamago_69@yahoo.com
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
· 11-13 Al Bosaty
Street Office
premises
Abbasseya
Cairo
· Suez Road, Km. 86 Factory
premises
1st Workers Zone,
Badr City
Helwan
Tel: (20-2)
24855691
Fax: (20-2)
26836320
KEY PRINCIPALS
Name Position
· Gamal Ahmed Abd El
Aziz Proprietor
& General Manager
· Hanan Ahmed Financial
Manager
· Ahmed Moussa Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1996
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 294947, Cairo
Tax Card No. : 237-133-075
Invested Capital : £E 4,000,000
Mr Gamal Ahmed Abd El Aziz is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the manufacture of chemicals and catalysts used in the
textile industry.
Import Countries: India, China, Germany, Turkey, Belgium and Italy.
Operating Trend: Steady
Subject has a workforce of 120 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
9,000,000 £E
12,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2)
25703172 / 25072691
·
Bank of Alexandria
49 Kasr El Nile
Street
Cairo
Tel:
(20-2) 24824056 / 24836073
Fax:
(20-2) 24837468
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.02 |
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|
1 |
Rs.78.05 |
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Euro |
1 |
Rs.65.13 |
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.