MIRA INFORM REPORT

Report Date :

17.07.2012

IDENTIFICATION DETAILS

Name :	LATIF ENGINEERING CO

Registered Office :	89 Choueifat North Fifth Settlement PO Box 11477 Cairo

Country :	Egypt

Year of Establishment :	2008

Legal Form :	General Partnership

Line of Business :	Distributors of products and equipment for laboratories and the pharmaceutical industry

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

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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Egypt

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

SUMMARY

Company Name : LATIF ENGINEERING CO

Country of Origin : Egypt

Legal Form : General Partnership

Registration Date : 2008

Partners Capital : £E 60,000

Total Workforce : 20

Activities : Distributors of products and equipment for laboratories and the

pharmaceutical industry

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Ms Oulaa Rashad, Finance Manager

COMPANY NAME

LATIF ENGINEERING CO

ADDRESS

Registered & Physical Address

Street : 89 Choueifat North

Area : Fifth Settlement

PO Box : 11477

Town : Cairo

Country : Egypt

Telephone : (20-2) 26162560

Facsimile : (20-2) 26162561

Email : masales@mail.contact.com.eg / sales@ma-latif.com

Premises

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

KEY PRINCIPALS

Name Position

· Ayman Mohamed Abdullatif Managing Partner

· Ms Oulaa Rashad Finance Manager

LEGAL FORM & OWNERS

Date of Establishment : 2008

Legal Form : General Partnership

Partners Capital : £E 60,000

Name of Partner (s)

· Ayman Mohamed Abdullatif

· Members of Mr Ayman Mohamed Abdullatif’s family

OPERATIONS

Activities: Engaged in the import and distribution of products and equipment for laboratories and the pharmaceutical industry.

Import Countries: Europe and the Far East.

Subject has a workforce of 20 employees.

FINANCIAL DATA

Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· 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

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.54.92
UK Pound	1	Rs.85.47
Euro	1	Rs.67.15

INFORMATION DETAILS

Report Prepared by :

PRL

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.