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Report Date : |
10.03.2012 |
|
|
|
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Tel. No.: |
20 2 25937497/25902097 |
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Fax No.: |
20 2 25902099 |
IDENTIFICATION DETAILS
|
Name : |
ZAGHLOUL ENTERPRISES |
|
|
|
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Registered Office : |
17 Habib Shalabi Street Fagalah, El Daher Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1965 |
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|
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Legal Form : |
General Partnership |
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Line of Business : |
Distributors of general foodstuff products. |
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|
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No. of Employees : |
20 |
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 |
|
Maximum Credit Limit : |
US$ 200,000 |
|
Status : |
Satisfactory |
|
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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : ZAGHLOUL ENTERPRISES
Country of Origin : Egypt
Legal Form : General Partnership
Start Date : 1965
Registration Date : 1987
Partners Capital : £E 100,000
Total Workforce : 20
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
ZAGHLOUL ENTERPRISES
Street : 17 Habib
Shalabi Street
Area : Fagalah, El
Daher
Town : Cairo
Country : Egypt
Telephone : (20-2) 25937497
/ 25902097 / 25938376
Facsimile : (20-2)
25902099
Mobile : (20-122)
7448716
Email : azag@menanet.net
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· Safia Zaghloul
& El Guish Street Rented
showroom premises
Port Said
Tel: (20-66)
3239682
· 2 Hassan Aflaton
Street Rented
showroom premises
Ard El Golf
Heliopolis
Cairo
Tel: (20-2)
24184656 / 25938376
Fax: (20-2)
24184350
· 15 Souk El
Tabakhin Street Rented
showroom premises
Manshia
Alexandria
Tel: (20-3)
4801402
Name Position
· Ahmed Mohamed
Zaghloul Managing
Partner
· Mohamed Zaghloul Partner
· Tarek Mohamed
Zaghloul Partner
· Sherif Mohamed
Zaghloul Partner
· El Sayed Ali Assistant
General Manager
Date of
Establishment : Subject’s
operations date back to 1965, however it was registered in 1987
Legal Form : General
Partnership
Partners Capital : £E 100,000
· Ahmed Mohamed
Zaghloul
· Mohamed Zaghloul
· Tarek Mohamed
Zaghloul
· Sherif Mohamed
Zaghloul
Activities: Engaged in the import and distribution of general foodstuff products,
specialising in spices, nuts, rice and dehydrated foodstuffs such as apricots
and coconut.
Import Countries: Sri Lanka, China, India, Turkey, United States of
America and Syria
International Suppliers:
· Shallah Syria
Export Countries: Syria
Operating Trend: Steady
Subject has a workforce of 20 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
14,200,000 £E
14,850,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
·
Societe Arabe Internationale de Banque
PO Box: 124
Cairo
Tel: (20-2)
33499464 / 33603489
Fax: (20-2)
33603497 / 33603487
No complaints regarding subject’s payments have been reported.
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.50.02 |
|
|
1 |
Rs.79.01 |
|
Euro |
1 |
Rs.66.18 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.