MIRA INFORM REPORT

 

 

Report Date :

27.07.2012

 

IDENTIFICATION DETAILS

 

Name :

EL MANAR CO FOR FOOD INDUSTRIES

 

 

Registered Office :

Cairo-Ismailia Road, 1st Industrial Zone, El Obour City, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

2007

 

 

Com. Reg. No.:

25772, Cairo

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Packaging and wholesaling of tea

 

 

No. of Employees :

220

 

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

 

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 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

SUMMARY

 

Company Name                                     : EL MANAR CO FOR FOOD INDUSTRIES

Country of Origin                                    : Egypt

Legal Form                                            : General Partnership

Registration Date                                   : 2007

Commercial Registration Number            : 25772, Cairo

Partners Capital                                     : £E 5,000,000

Total Workforce                                     : 220

Activities                                               : Packaging and wholesaling of tea

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

COMPANY NAME

 

EL MANAR CO FOR FOOD INDUSTRIES

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Cairo-Ismailia Road

Area                 : 1st Industrial Zone, El Obour City

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 46104477 / 46100650

Facsimile          : (20-2) 46104478

 

Premises

Subject operates from a large suite of offices, a factory that are rented and located in the Industrial Area of Cairo.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Ahmed Mohamed Khalil                                                                     Partner

·       Mahmoud Mohamed Khalil                                                                 Partner

·       Naser Hamam                                                                                   Finance Manager

·       Abdallah El Khodary                                                                          Accounts Manager                                            

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2007

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 25772, Cairo

 

Partners Capital           : £E 5,000,000

 

Name of Partner (s)                                     Percentage

·       Ahmed Mohamed Khalil                                 50%                             

·       Mahmoud Mohamed Khalil                             50%     

 

 

OPERATIONS

 

Activities: Engaged in the import, packaging and wholesaling of tea.

 

Import Countries: Kenya and China.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 220 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 85,614,243                           £E 88,499,047

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Bank of Alexandria

6 Salah Salem Street

Alexandria

Tel: (20-3) 4824056

 

·       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

 

According to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The company’s operating history is reportedly clear.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.95

UK Pound

1

Rs.86.56

Euro

1

Rs.67.95

 

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

----

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.