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Report Date : |
05.06.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1992 |
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Com. Reg. No.: |
50649, Alexandria |
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Legal Form : |
General Partnership |
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Line of Business : |
Wholesale and retail of decoration materials and hardware products |
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No. of Employees : |
12 |
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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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company Name : OTAIBA CENTER FOR IMPORT AND EXPORT
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1992
Commercial Registration Number : 50649, Alexandria
Partners Capital : £E 250,000
Total Workforce : 12
Activities : Wholesale and retail of decoration materials and hardware products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Esslam Hegazy, Public Relations Manager
OTAIBA CENTER FOR
IMPORT AND EXPORT
Registered &
Physical Address
Street : 20 Dr Sabongy Street
Area : Saba Pasha
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5834762 / 5834662 / 5833897
Facsimile : (20-3) 5834861
Email : otaiba_import.export@yahoo.com
/ esslam.hegazy@otaiba4decor.com
/
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Alexandria.
Name Position
·
Faisal
Fouzi Otaiba Managing
Partner
·
Fahd I.
Fouzi Otaiba Partner
·
Mohamed Abu El Fattah Import
Manager
·
Mamdouh Masoud Marketing
Manager
·
Esslam Hegazy Public
Relations Manager
Date of Establishment : 1992
Legal Form :
General Partnership
Commercial Reg. No. : 50649, Alexandria
Tax Card No. : 515-375-446
Partners Capital : £E 250,000
Name of Partner
(s)
·
Faisal
Fouzi Otaiba
·
Fahd I.
Fouzi Otaiba
Activities: Engaged in the wholesale and retail of decoration
materials and hardware products.
Subject’s product range includes PVC Folding Doors, PVC Floor Tiles, All
Kinds of Floor Coverings, All Kinds of Ceiling Boards, Ceiling Suspension
System, Wallpaper Covering Rolls, Metal Ladders, Coir & Rubber Door Mats,
Bath Mats, Ironing Boards, Wallpaper Adhesives, Self-Adhesive Rolls, All Kinds
of Door Curtains (Wood, Bamboo, and Plastic), Glass Blocks, as well as all
kinds of hardware products, such as Door Handles, Furniture Handles, Bolts,
Hinges, Bathroom Accessories, Kitchen Accessories, Bathroom Curtains, and
Curtain Rods.
Import
Countries: China, Vietnam,
Taiwan, Turkey, Netherlands, Germany, Belgium, Hungary, Poland, India, Italy
and Russia
International
Suppliers:
·
Sareel Turkey
·
Gruteen
Global Taiwan
·
Scan
Asia Taiwan
·
Zeinjin China
Operating Trend: Steady
Subject has a
workforce of 12 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 9,100,000 £E 9,380,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of Alexandria
Mohandessin Branch
Cairo
Tel: (20-2)
33034830
Fax: (20-2)
33454233
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National
Bank of Egypt
21 Tosson Street
Alexandria
Tel: (20-3) 4824802 / 4825715
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
business is considered to be a fair trade risk and the above credit figure is
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.55.52 |
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UK Pound |
1 |
Rs.85.29 |
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Euro |
1 |
Rs.68.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.