MIRA INFORM REPORT
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Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ELWELELY FOR AGRICULTURE CROPS COMPANY SAE |
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Registered Office : |
Delta El
Pharaaena Building, 11th Floor, 73 El Horreya Road, Alexandria
21643 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1957 |
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Com. Reg. No.: |
997, Alexandria |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Processing and packaging of rice |
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No. of Employees
: |
500 |
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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Maximum Credit Limit : |
US$ 200,000 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Egypt |
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 : ELWELELY FOR AGRICULTURE CROPS COMPANY SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1957
Commercial Registration Number : 997, Alexandria
Industrial Registration Number : 28445, Cairo
Issued Capital : £E 3,000,000
Paid up Capital : £E 3,000,000
Total Workforce : 500
Activities : Processing and packaging of rice.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
ELWELELY FOR AGRICULTURE CROPS COMPANY SAE
Registered &
Physical Address
Building : Delta El Pharaaena Building, 11th
Floor
Street : 73 El Horreya Road
Town : Alexandria 21643
Country : Egypt
Telephone : (20-3) 3904656
Facsimile : (20-3) 3904655
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Office
(s)
Location Description
·
39
Khalil Osman Street Warehouse
premises
Damanhour
Beheira
Tel: (20-45) 3318425 / 3311978
Fax: (20-45) 3318425
·
West 2nd
Industrial Zone Factory
premises
Plot B, Block 15
Borg El Arab
Alexandria
Tel: (20-3) 4593548 / 4591988
Fax: (20-3) 4593548
Name Position
·
Mahmoud
Medhat Mohamed Elwelely Chairman
·
Magdy
Elwelely Vice
Chairman
·
Mohamed
Heshmat Finance
Manager
·
Moustafa
Shehata Production
Manager
Date of Establishment : 1957
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 997,
Alexandria
Industrial
Reg. No. : 28445
Issued Capital : £E 3,000,000
Paid up Capital : £E 3,000,000
Name of Shareholder
(s) Percentage
·
Elwelely
& Co Group 100%
Egypt
Activities: Engaged in the processing and packaging of
rice.
Operating Trend: Steady
Subject has a
workforce of approximately 500 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 69,800,000 £E 75,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Blom
Bank Egypt
17 Port Said Street
El Shatby
Alexandria
Tel: (20-3) 5934055
Fax: (20-3) 5934058
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 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.49.15 |
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UK Pound |
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
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 |
|
<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.