MIRA INFORM REPORT
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Report Date : |
31.03.2012 |
IDENTIFICATION DETAILS
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Name : |
AL YASMEN FOR IMPORT & EXPORT |
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Registered Office : |
El Shahid Mohamed
El Demrdash, Kafr Al Sheikh |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.02.2008 |
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Com. Reg. No.: |
58543 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distribution of agricultural crops |
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No. of Employees
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06 |
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$ 100,000 |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : AL YASMEN FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 16th February 2008
Commercial Registration Number : 58543
Invested Capital : £E 500,000
Total Workforce : 6
Activities : Distribution of agricultural crops
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
AL YASMEN FOR
IMPORT & EXPORT
Registered &
Physical Address
Location : El Shahid Mohamed El Demrdash
Town : Kafr Al Sheikh
Country :
Telephone : (20-47) 3214472
Facsimile : (20-47) 3214472
Email : ts_salam@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Kafr El Sheikh.
Branch Office (s)
Location Description
·
4 Ahmed Zuwail Street Office
premises
Masken El Halaka
Kafr
El Sheikh
Tel:
(20-47) 3234896
Fax:
(20-47) 3233172
Name Position
·
Mohamed
Gamal Mohamed Ahmed Issa Proprietor
& General Manager
·
Tamer Salamah Commercial
Manager
Date of Establishment : 16th
February 2008
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 58543
Invested Capital
: £E 500,000
Mr Mohamed Gamal
Mohamed Ahmed Issa is the sole proprietor of the business.
·
Al Huda For Import & Export
Kafr El Sheikh
Activities: Engaged in the import and distribution of
agricultural crops, including beans, chick peas, rice, herbs and spices.
Subject also distributes building materials, steel and cement.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 6 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 6,410,000 £E 7,185,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Export
Development Bank of Egypt
108 Mohi El Din Abu El Ezz Street
Mohandessin
Cairo 11111
Tel: (20-2) 33619005 / 33385877
Fax: (20-2) 33385940 /
33385938
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.16 |
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UK Pound |
1 |
Rs.81.72 |
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Euro |
1 |
Rs.68.34 |
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 |
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<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.