|
Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL IMPORT
AND EXPORT |
|
|
|
|
Formerly Known As : |
EZZ EL DIN EL
NAGGAR AND CO |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
Com. Reg. No.: |
98769,
Gharbeya |
|
|
|
|
Legal Form : |
General
Partnership |
|
|
|
|
Line of Business : |
Distributors of heavy equipment, lorry and automotive spare parts, as well as chemicals for pharmaceutical weaving and leather. |
|
|
|
|
No. of Employees : |
6 |
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 : UNIVERSAL IMPORT AND
EXPORT
Also Known As : EZZ EL
DIN EL NAGGAR AND CO
Country of Origin : Egypt
Legal Form :
General Partnership
Registration Date : 1995
Commercial
Registration Number : 98769, Gharbeya
Partners Capital : £E 30,000
Total Workforce : 6
Activities :
Distributors of heavy equipment, lorry and automotive
spare parts, as well as chemicals for
pharmaceutical weaving and leather.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
UNIVERSAL IMPORT
AND EXPORT
ALSO KNOWN AS: EZZ EL DIN EL NAGGAR AND CO
Street : Antar Ibn Shaddad Street
Area : Gharbeya
Town : Tanta
Country : Egypt
Telephone : (20-40) 3303652
Facsimile : (20-40) 3317932
Mobile : (20-122) 3125080 / 3433574
Please note that
subject’s previous address was, 8 Saied Street, Gharbeya, Tanta.
Subject operates
from a small sized suite of offices and a warehouse that are rented and located
in the Suburban Business Area of Tanta.
Name Position
·
Ezz El Din El Naggar Managing
Partner
·
Ahmed Ezz El Din El Naggar Partner
Date of Establishment : 1995
Legal Form :
General Partnership
Commercial Reg. No. : 98769, Gharbeya
Partners Capital : £E 30,000
·
Ezz El Din El Naggar 60%
·
Ahmed Ezz El Din El Naggar 40%
Activities: Engaged in the
import and distribution of heavy equipment, lorry and automotive spare parts,
as well as chemicals for pharmaceutical weaving and leather.
Import
Countries: United Kingdom, Italy, France, Belgium, Germany, Poland,
Romania, Russia, Brazil, India, and China.
Brand Names: PANSINY, VOLTAS,
CITA CHEMICALS and CHEMAY TINGIN
Operating Trend: Steady
Subject has a
workforce of 6 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales £E 16,000,000 £E 18,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Al
Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 33379363
Fax: (20-2) 33772959
·
Egyptian
Workers Bank
Heliopolis
Cairo
Tel: (20-2) 25763622
No complaints
regarding subject’s payments have been reported.
According to local sources
subject’s financial position is described as healthy and profitable with
payments made in a timely manner. The operating history is clear and the above
credit figure is deemed to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
|
|
1 |
Rs.87.49 |
|
Euro |
1 |
Rs.70.15 |
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.