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Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
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Name : |
TRAG LTD |
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Registered Office : |
Plot No. 1258
(Z), Building No. 10, Masken Sheraton, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
17554, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of raw materials for the pharmaceutical industry |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : TRAG LTD
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Start Date : 1994
Registration Date : 26th January 2006
Commercial Registration Number : 17554, Cairo
Tax Card Number : 452-779-618
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 20
Activities : Import and distribution of raw materials for the pharmaceutical industry.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
TRAG LTD
Registered &
Physical Address
Location : Plot No. 1258 (Z), Building No. 10
Area : Masken Sheraton, Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22680672 / 22680671 / 22680291
Facsimile : (20-2) 22680293
Mobile : (20-100) 5306664
Email : trag@tragfocus.com
Please note that
subject’s previous address was, 64 Mohamed Kamel Husein Street, El Nozha El Gedida,
Heliopolis, Cairo. Subject moved to the above address in 2011.
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Name Position
·
Dr Ramzy Abdul Majeed Hagag Managing
Partner
·
Dr Tamer Abdul Majeed Hagag Partner
·
Abdul
Hamid Abul Al Alaa Commercial
Manager
·
Abdullah
Jaber Financial
Controller
·
Soha
Mahmoud Administration
Executive
Date of Establishment : 1994, however
subject was registered on 26th January 2006.
Legal Form :
Limited Liability
Partnership
Commercial
Reg. No. : 17554, Cairo
Tax
Card No. : 452-779-618
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Shareholder
(s)
·
Dr Ramzy Abdul Majeed Hagag
·
Dr Tamer Abdul Majeed Hagag
Activities: Engaged in the import and distribution of
raw materials for the pharmaceutical industry.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a
workforce of 20 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 10,330,000 £E 10,685,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Misr
International Bank (MIBANK)
14 Alfy Street
PO Box: 631
Cairo
Tel: (20-2) 25931002
Fax: (20-2) 25912306
No complaints
regarding subject’s payments have been reported.
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.56.31 |
|
UK Pound |
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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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.