MIRA INFORM REPORT

 

 

Report Date :

28.06.2012

 

IDENTIFICATION DETAILS

 

Name :

Al ARABIA GROUP

 

 

Formerly Known As :

AL ARABIA FOR CONTRACTING & TRADING METAL & SCAFFOLDING

 

 

Registered Office :

19th Floor, Office No. 102, 97A Corniche El Nile Street, Abraj El Loula, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

 01.10.2008

 

 

Com. Reg. No.:

27189, Cairo

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Suppliers and renters of scaffolding

 

 

No. of Employees :

45

 

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

 

SUMMARY

 

Company Name                                     : Al ARABIA GROUP

Previously Known As                              AL ARABIA FOR CONTRACTING & TRADING METAL &

SCAFFOLDING

Country of Origin                                    : Egypt

Legal Form                                            : General Partnership

Registration Date                                   : 1st October 2008

Commercial Registration Number            : 27189, Cairo

Partners Capital                                     : £E 1,000,000

Total Workforce                                     : 45

Activities                                               : Suppliers and renters of scaffolding

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

 

COMPANY NAME

 

Al ARABIA GROUP

 

 

company ADDRESS

 

Registered & Physical Address

Building             : 19th Floor, Office No. 102

Street               : 97A Corniche El Nile Street

Area                 : Abraj El Loula

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 24571473 / 33362293

Facsimile          : (20-2) 24571473 / 33362291

Mobile               : (20-100) 6638939

Email                : info@alarabiagroup.com / alarabia_zana@yahoo.com

 

Please note that subject’s previous address was 2nd Floor, Apt No. 8, 127 Al Sudan Street, Mohandeseen, Cairo. Subject moved to the above address in January 2012.

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Ahmed Mohamed Hanfi                                                                      Managing Partner

 

·       Yasser Mahmoud Hasheesh                                                              Partner

 

·       Omar El Sebai                                                                                  Assistant General Manager

 

·       Samir Mohamed                                                                                Financial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st October 2008

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 27189, Cairo

 

Tax Card No.               : 411-500-074

 

Partners Capital           : £E 1,000,000

 

Name of Partner (s)                                         

·       Ahmed Mohamed Hanfi                                                                     

·       Yasser Mahmoud Hasheesh

 

 

OPERATIONS

 

Activities: Engaged in the supply and rental and scaffolding.

 

Operating Trend: Steady

 

Subject has a workforce of 45 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 11,880,000                           £E 12,100,000

 

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

 

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

 

 

BANKERS

 

·       Citibank

PO Box: 188

Cairo

Tel: (20-2) 33551877 / 33551874

Fax: (20-2) 33558056

 

·       National Societe General Bank

5 Champollion Street

Cairo

Tel: (20-2) 27707000

Fax: (20-2) 27707099

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.57.22

UK Pound

1

Rs.89.42

Euro

1

Rs.71.46

 

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.