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Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
LIGHT FOOD
(MOHAMOUD MOHAMED MOSTAFA EL MEERY) |
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Registered Office : |
3H/2 Takseem El
Lasalky, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.11.2009 |
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Com. Reg. No.: |
42092, |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distribution of
food ingredients, flavouring, colouring and fragrance |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : LIGHT FOOD (MOHAMOUD
MOHAMED MOSTAFA EL MEERY)
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 8th
November 2009
Commercial
Registration Number : 42092,
Cairo
Tax Card Number : 205-061-354
Invested Capital : £E
500,000
Total Workforce : 10
Activities :
Distribution of food ingredients, flavouring, colouring and fragrance
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Samer Yousef,
Administration Manager
LIGHT FOOD
(MOHAMOUD MOHAMED MOSTAFA EL MEERY)
Building : 3H/2 Takseem El Lasalky
Street : Minshawy Street
Area : New Maadi
Town : Cairo
Country :
Egypt
Telephone : (20-2) 25170096
Facsimile : (20-2) 25170097
Mobile : (20-122) 7472526
Email : mahmoud.elmeery@hotmail.com / k.ezzat@link.net / k.ezzat@andrepectin.com /
k.ezzat78@hotmail.com / k.ezzat@andreingredients.com / melmeery@andreingredients.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Cairo.
Name Position
·
Mohamoud
Mohamed Mostafa El Meery Proprietor
& General Manager
·
Kamal
Ezzat Assistant
General Manager & Marketing Manager
·
Samer
Yousef Administration
Manager
Date of Establishment : 8th
November 2009
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 42092, Cairo
Tax
Card No. : 205-061-354
Invested Capital
: £E 500,000
Mr Mohamoud Mohamed
Mostafa El Meery is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
food ingredients, flavouring, colouring and fragrance.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 10 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 7,100,000 £E 7,850,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Citibank
PO Box: 188
Cairo
Tel: (20-2) 3551877 / 3551874
Fax: (20-2) 3558056
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.58 |
|
|
1 |
Rs.87.14 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.