MIRA INFORM REPORT

Report Date :

24.03.2012

IDENTIFICATION DETAILS

Name :	EL SAFAA COMPANY FOR EXPORT AND IMPORT

Registered Office :	Damanhour Road Hosa Aysa 13 Beheira 22728

Country :	Egypt

Financials (as on) :	31.12.2011

Year of Establishment :	2007

Com. Reg. No.:	66163, Beheira

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of sesame seeds, humus, beans and spices.

No. of Employees :	12

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 150,000
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Egypt

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : EL SAFAA COMPANY FOR EXPORT AND IMPORT

Country of Origin : Egypt

Legal Form : Sole Proprietorship

Registration Date : 2007

Commercial Registration Number : 66163, Beheira

Tax Card Number : 398-217-599

Invested Capital : £E 100,000

Total Workforce : 12

Activities : Distributors of sesame seeds, humus, beans and spices.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 150,000

Person Interviewed : Karam Ali Khalaf, Proprietor & General Manager

COMPANY NAME

EL SAFAA COMPANY FOR EXPORT AND IMPORT

ADDRESS

Registered & Physical Address

Street : Damanhour Road

Area : Hosa Aysa 13

Town : Beheira 22728

Country : Egypt

Telephone : (20-45) 2707772

Facsimile : (20-45) 2707774

Mobile : (20-111) 4250000 / (20-114) 3619999

Email : info@elsafaonline.com

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Beheira.

KEY PRINCIPALS

Name Position

· Karam Ali Khalaf Proprietor & General Manager

· Dr Eman Karam Ali Khalaf Assistant General Manager

LEGAL FORM & OWNERS

Date of Establishment : 2007

Legal Form : Sole Proprietorship

Commercial Reg. No. : 66163, Beheira

Tax Card No. : 398-217-599

Invested Capital : £E 100,000

Mr Karam Ali Khalaf is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of sesame seeds, humus, beans and spices.

Import Countries: India

International Suppliers:

· NHT Foods India

Operating Trend: Steady

Subject has a workforce of 12 employees.

FINANCIAL DATA

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 8,700,000 £E 9,350,000

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

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

BANKERS

· Alexandria International Bank SAE

29 El Nabi Daniel Street

Alexandria

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.50.90
UK Pound	1	Rs.80.77
Euro	1	Rs.67.40

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.