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Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
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Name : |
BLUE STARS |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of frozen foodstuffs and metals |
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No. of Employees : |
08 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company Name : BLUE STARS
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2005
Invested Capital : £E 50,000
Total Workforce : 8
Activities : Wholesale of frozen foodstuffs and metals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Hassan Mawad, Proprietor & General Manager
BLUE STARS
Registered &
Physical Address
Street : 13/14 El Saudia Street, off
Algeria Street
Area : Maadi
Town : Cairo 11742
Country : Egypt
Telephone : (20-2) 27028895
Facsimile : (20-2) 27028895
Mobile : (20-100) 0093199 / (20-122)
2792861
Email : gm@bluestars-eg.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
Name Position
·
Mohamed
Hassan Mawad Proprietor
& General Manager
·
Sayed
Salah Financial
Controller
·
Hani
Hassan Sales
Manager
Date of Establishment : 2005
Legal Form :
Sole Proprietorship
Invested Capital
: £E 50,000
Mr. Mohamed Hassan
Mawad is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general frozen foodstuffs, specialising in vegetables and fruit.
Subject also distributes
ferrous, non-ferrous and scrap metals.
Import
Countries: India, Sri
Lanka, Pakistan and Indonesia.
Operating Trend: Steady
Subject has a
workforce of 8 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 8,250,000 £E 9,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
International Bank
Misr El Gedida Branch
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172
Acc No. 1850555067
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.29 |
|
UK Pound |
1 |
Rs.88.26 |
|
Euro |
1 |
Rs.70.82 |
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 |
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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 |
|
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.