MIRA INFORM REPORT
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Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MEL CONSUMER CARE AND PARTNERS WIND |
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Registered Office : |
11B |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.04.2008 |
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Com. Reg. No.: |
31640, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of consumer care products, hair care products, shampoos and cream |
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No. of Employees : |
300 |
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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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : MEL CONSUMER CARE AND PARTNERS WIND
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 10th April 2008
Commercial Registration Number : 31640, Cairo
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 300
Activities : Manufacturers of consumer care products, hair care products,
shampoos and cream.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Al Arabi, Finance Manager
MEL CONSUMER CARE
AND PARTNERS WIND
Registered &
Physical Address
Building : 11B Infinity Tower, 1st
Floor
Area : Hegaz Square, Mohandessin,
Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 33381993 / 33381998 / 33377784
Facsimile : (20-2) 33381998
Mobile : (20-100) 0080667 / 1752657 /
(20-106) 5532275
Email : elarabim@maricoworld.net
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Sadat
Industrial City Factory
premises
Name Nationality Position
·
Depshish Negoi Indian Managing
Partner
·
Samutria Tahpathat Indian Partner
·
Padmanabah Suresh Maydeo - Supply
Manager
·
Vaibhav V Wankhade - Warehouse
Manager
·
Mohamed Al Arabi - Finance
Manager
Date of Establishment : 10th
April 2008
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 31640, Cairo
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Partner (s) Percentage
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Marico
Egypt Ltd SAE 99.0%
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Depshish Negoi 0.5%
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Samutria Tahpathat 0.5%
Activities: Engaged in the manufacture of consumer care
products, hair care products, shampoos and cream.
Import
Countries: Europe and the
Far East.
Brand Names: PARACHUTE
Operating Trend: Steady
Subject has a
workforce of approximately 300 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/11:
Total Sales £E
60,000,000
Net Profit £E
4,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Al Arabi, Finance
Manager
·
National
Societe Generale Bank
5 Champollion Street
Cairo
Tel: (20-2) 27707777
·
HSBC
Bank Egypt
306 Corniche El Nil Street
Maadi
Cairo
Tel: (20-2) 25298751
No complaints
regarding subject’s payments have been reported.
During the course of
this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.34 |
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UK Pound |
1 |
Rs.86.11 |
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Euro |
1 |
Rs.69.07 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.