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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
EL EMAN FOR IMPORT & EXPORT |
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Registered Office : |
Sindebis Area, El
Kanater El Kheiria, Kaliubeya |
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|
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
1367, Kaliubeya |
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Packagers and exporters of citrus fruit, onions and
potatoes |
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No. of Employees : |
60 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Egypt - ECONOMIC OVERVIEW
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed to public discontent. After unrest erupted in January 2011, the Egyptian Government drastically increased social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction are among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow at least through 2012. The government is utilizing foreign exchange reserves to support the Egyptian pound and Egypt may seek a loan from the International Monetary Fund.
|
Source : CIA |
Company Name : EL EMAN FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1998
Commercial Registration Number : 1367, Kaliubeya
Invested Capital : £E 250,000
Total Workforce : 60
Activities : Packagers and exporters of citrus fruit, onions and potatoes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Abdul Nabi, Marketing Manager
EL EMAN FOR IMPORT
& EXPORT
Registered &
Physical Address
Location : Sindebis Area, El Kanater El
Kheiria
Town : Kaliubeya
Country : Egypt
Telephone : (20-2) 42283736
Facsimile : (20-2) 26921909
Mobile : (20-122) 0777584 / 2372228
Email : info@eleman-eg.com / export@eleman-eg.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Kaliubeya.
Branch Office (s)
Location Description
·
8 Hafez
Ramadan Street Office
premises
Nasr City
Cairo
Name Position
·
Mohamed
Taha Ali Proprietor
& General Manager
·
Mohamed
Abdul Nabi Marketing
Manager
·
Dr Mona Tawfiq Commercial
Manager
Date of Establishment : 1998
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1367,
Kaliubeya
Invested Capital
: £E 250,000
Mr Mohamed Taha Ali
is the sole proprietor of the business.
Activities: Engaged in the packaging and exporting of
citrus fruit, onions and potatoes.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 60 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 16,375,000 £E 17,220,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.97 |
|
UK Pound |
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.70.16 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.