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Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
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Name : |
EMBERATHOR EL OBOUR |
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Registered Office : |
Plot No. 15, Block No. 13037, Street No. 90, Bilbies Desert Road, 1st
Industrial Zone, El Obour City, Cairo |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.02.2002 |
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Legal Form : |
General Partnership |
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Line of Business : |
Manufacturers of textiles and threads. |
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No. of Employees : |
65 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
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 :
EMBERATHOR EL OBOUR
Country of Origin :
Egypt
Legal Form :
General Partnership
Registration Date :
16th February 2002
Partners Capital :
£E 1,000,000
Total Workforce :
65
Activities :
Manufacturers of textiles and threads.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ridwan Samakia, Managing Partner
EMBERATHOR EL OBOUR
Registered &
Physical Address
Location : Plot No. 15,
Block No. 13037
Street : Street No.
90, Bilbies Desert Road
Area : 1st
Industrial Zone, El Obour City
Town : Cairo
Country : Egypt
Telephone : (20-2) 46651880
/ 46651881
Facsimile : (20-2)
46650322 / 22850007
Mobile : (20-122)
2109445 / (20-100) 1013440
Email : f.sammakia@alembrator.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Cairo.
Name Position
Ridwan Samakia Managing
Partner
Feras Ridwan Samakia Partner
Ahmed Ridwan Samakia Partner
Wassim Ridwan Samakia Partner
Date of Establishment : 16th
February 2002
Legal Form : General
Partnership
Partners Capital : £E 1,000,000
Name of Partner
(s)
Ridwan Samakia
Feras Ridwan Samakia
Ahmed Ridwan Samakia
Wassim Ridwan Samakia
Samakia Brothers (Emberathor)
Cairo
Activities: Engaged in the manufacture of textiles and threads.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 65 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
12,810,000 £E
13,165,000
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
68 Omar Ben Al Khatab Street
Heliopolis
Cairo
Acc No. 0129400215000
No complaints regarding subject’s payments have been reported.
Please note that we were unable to make direct contact with the subject
during the course of this investigation.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.