MIRA INFORM REPORT

Report Date :

24.07.2012

IDENTIFICATION DETAILS

Name :	EL BASHA IMPORT & EXPORT CO

Registered Office :	59A, El Zaraq Street, El Saleh, Rod El Farg, Cairo

Country :	Egypt

Financials (as on) :	31.12.2011

Date of Incorporation :	1990

Com. Reg. No.:	10834, Cairo

Legal Form :	General Partnership

Line of Business :	Distributors of general foodstuffs and processors of rice.

No. of Employees :	145

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 – September 30, 2011

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 : EL BASHA IMPORT & EXPORT CO

Country of Origin : Egypt

Legal Form : General Partnership

Registration Date : 1990

Commercial Registration Number : 10834, Cairo

Export Licence Number : 14274

Partners Capital : £E 300,000

Total Workforce : 145

Activities : Distributors of general foodstuffs and processors of rice.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Ahmed Mohamed Idriss Abbas, General Manager

COMPANY NAME

EL BASHA IMPORT & EXPORT CO

ADDRESS

Registered & Physical Address

Street : 59A, El Zaraq Street

Area : El Saleh, Rod El Farg

Town : Cairo

Country : Egypt

Telephone : (20-2) 22030412 / 22042842 / 22037247

Facsimile : (20-2) 22028729 / 22058158

Mobile : (20-122) 2111504 / (20-100) 0020985

Email : elbasha@link.net / info@elbashaegypt.com

Premises

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

KEY PRINCIPALS

Name Position

El Basha Idriss Abbas Managing Partner

Mohamed Idriss Abbas Partner

Ahmed Mohamed Idriss Abbas General Manager

LEGAL FORM & OWNERS

Date of Establishment : 1990

Legal Form : General Partnership

Commercial Reg. No. : 10834, Cairo

Export Licence No. : 14274

Partners Capital : £E 300,000

Name of Partner (s)

El Basha Idriss Abbas

Mohamed Idriss Abbas

AFFILIATED COMPANIES

El Buraq Company

Cairo

OPERATIONS

Activities: Engaged in the import and distribution of general foodstuffs, including beans, seeds, nuts, herbs and spices. Subject also acts as processors of rice.

Import Countries: Germany, Italy and France.

Operating Trend: Steady

Subject has a workforce of 145 employees.

FINANCIAL DATA

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 14,800,000 £E 15,625,000

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

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 business is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.76
UK Pound	1	Rs.86.80
Euro	1	Rs.67.43

INFORMATION DETAILS

Report Prepared by :

SDA

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.