MIRA INFORM REPORT

Report Date :

09.05.2012

IDENTIFICATION DETAILS

Name :	ASIA IMPORT & EXPORT

Registered Office :	13 Kabul Street, 6^th District, Nasr City, Cairo

Country :	Egypt

Financials (as on) :	31.12.2011

Date of Incorporation :	01.07.1999

Com. Reg. No.:	324204, Cairo

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of general foodstuff products

No. of Employees :	08

RATING & COMMENTS

MIRA’s Rating :

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Egypt

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

SUMMARY

Company Name : ASIA IMPORT & EXPORT

Country of Origin : Egypt

Legal Form : Sole Proprietorship

Registration Date : 1^st July 1999

Commercial Registration Number : 324204, Cairo

Invested Capital : £E 250,000

Total Workforce : 8

Activities : Distributors of general foodstuff products.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Samir Abdul Wahab Hassan, Proprietor & General Manager

COMPANY NAME

ASIA IMPORT & EXPORT

company aDDRESS

Registered & Physical Address

Street : 13 Kabul Street

Area : 6^th District, Nasr City

Town : Cairo

Country : Egypt

Telephone : (20-2) 22737378

Facsimile : (20-2) 22737364

Mobile : (20-122) 2292932

Email : asia@medcomit.com / asiaco47@hotmail.com

Premises

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

KEY PRINCIPALS

Name Position

· Samir Abdul Wahab Hassan Proprietor & General Manager

· Ibrahim Yousef Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 1^st July 1999

Legal Form : Sole Proprietorship

Commercial Reg. No. : 324204, Cairo

Invested Capital : £E 250,000

Mr Samir Abdul Wahab Hassan is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import, distribution and export of general foodstuff products, particularly basmati rice,

lentils and beans.

Import Countries: India and Pakistan.

International Suppliers:

· P K Overseas (P) Ltd India

· Amar Singh Co (Chawal Wala) India

Operating Trend: Steady

Subject has a workforce of 8 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 7,325,000 £E 8,100,000

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

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

BANKERS

· Misr Bank

Al Husain Islamic Branch

Port Said Street

Nasr City

Cairo

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.53.34
UK Pound	1	Rs.86.09
Euro	1	Rs.69.37

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%)

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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.