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Report Date : |
13.06.2012 |
IDENTIFICATION DETAILS
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Name : |
AL MOHANAD GROUP |
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Registered Office : |
5 Ebn Manzoure Roxy |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2005 |
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Com. Reg. No.: |
33512 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of carpets, rugs and textiles. |
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No. of Employees : |
35 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Egypt |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 : AL MOHANAD GROUP
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2005
Commercial Registration Number : 33512
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 35
Activities : Distributors of carpets, rugs and textiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Hussain, Financial Controller
AL MOHANAD GROUP
Street : 5 Ebn
Manzoure
Area : Roxy
Town : Cairo
Country :
Telephone : (20-2) 26910995
Facsimile : (20-2)
26910996
Mobile : (20-122)
6776777
Email : almonanad_com@yahoo.com
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Central Business Area of Cairo.
Name Position
· Dr Abdulaziz
Ismail Managing
Director
· Ahmed Abdulaziz
Ismail Director
· Mohamed Abdulaziz
Ismail Director
· Mohamed Hussain Financial
Controller
Date of
Establishment: 2005
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 33512
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
· Dr Abdulaziz
Ismail
· Ahmed Abdulaziz
Ismail
· Mohamed Abdulaziz
Ismail
Activities: Engaged in the import and distribution of carpets, rugs and textiles.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 35 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
9,675,000 £E
10,200,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Banque Marocaine pour le Commerce et L'Industrie
Cairo
No complaints regarding subject’s payments have been reported.
Please note that Mr Mohamed Hussain, Financial Controller confirmed that
the correct name of the company is Al Mohanad Group. He stated that it is only
known as Rawan Home in Morocco.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company 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.56.05 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.