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Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
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Name : |
AL SARATEX FOR TRADING & SUPPLYING |
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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 : |
2008 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of used textile machinery and related spare
parts |
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No. of Employees : |
05 |
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) |
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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 : AL SARATEX FOR TRADING & SUPPLYING
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2008
Invested Capital : £E 75,000
Total Workforce : 5
Activities : Distributors of used textile machinery and related spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL SARATEX FOR
TRADING & SUPPLYING
Registered &
Physical Address
Street : University Mall Street, 2nd
Floor, Office No. 14
Area : Mehwar Khadmat El Hai El
Sabeem
Town : Sadat City 32897
Country : Egypt
Telephone : (20-48) 2602453
Facsimile : (20-48) 2602453
Mobile : (20-111) 2753777
Email : alsaratex@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Sadat City.
Name Position
·
Sherif
Ibrahim Abdul Aleem Al Shafie Proprietor
·
Eid
Abdul Fattah Financial
Controller
Date of Establishment : 2008
History : Subject began in 2008 as a Limited
Liability Partnership between Mr Sherif Ibrahim Abdul Aleem Al Shafie and Mr
Sherif Bashar. In 2011, Mr Sherif Bashar withdrew from the company and Mr Sherif Ibrahim Abdul Aleem Al
Shafie re-registered as a Sole
Proprietorship.
Legal Form :
Sole Proprietorship
Invested Capital
: £E 75,000
Mr Sherif Ibrahim
Abdul Aleem Al Shafie is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
used textile machinery and related spare parts.
Import
Countries: Switzerland and
Japan
International
Suppliers:
·
Murata Japan
·
Rieter Switzerland
·
Schlafhorst Switzerland
Operating Trend: Steady
Subject has a
workforce of 5 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 10,400,000 £E 10,690,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
International Bank (CIB)
Main Branch
District No. 11
Sadat City
Tel: (20-48) 603083
No complaints regarding
subject’s payments have been reported.
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.55.86 |
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UK Pound |
1 |
Rs.87.93 |
|
Euro |
1 |
Rs.70.88 |
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 |
|
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 |
|
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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.