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Report Date : |
02.10.2012 |
IDENTIFICATION DETAILS
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Name : |
AL MALEKA OLIVE & FOOD INDUSTRIES |
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Registered Office : |
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Country : |
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Year of Establishment : |
1982 |
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Com. Reg. No.: |
93251, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Processors of olives and pickles and manufacturers of olive oil |
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No. of Employees : |
150 |
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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Egypt |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 : AL MALEKA OLIVE & FOOD INDUSTRIES
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1982
Commercial Registration Number : 93251, Tanta
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 150
Activities : Processors of olives and pickles and manufacturers of olive oil
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL MALEKA OLIVE & FOOD INDUSTRIES
Location : 7 El Galaa
Street
Town : Tanta
Country : Egypt
Telephone : (20-40) 3352368
/ 3409059
Facsimile : (20-40)
3409059
Mobile : (20-100)
1021751 / (20-122) 3821734
Email : info@almaleka-olives.net
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Tanta.
Branch Office (s)
Location Description
· 5 Abbas Al Akkad
Street, Office 54A Office
premises
Cairo
Tel: (20-2)
22614105
Fax: (20-2)
22614105
· Cairo Alexandria
Road, KM 82 Factory
premises
Defra
Tel: (20-48)
2976886 / 2976886
Fax: (20-48) 2977470
Name Position
· Munir Munir
Mahmoud Sulaiman Managing
Partner
· Omar Munir Munir
Mahmoud Sulaiman Partner
· Yousef Munir Munir
Mahmoud Sulaiman Partner
· Nour Munir Munir
Mahmoud Sulaiman Partner
· Mohamed Al Shenawy Commercial
Manager
· Duaa Mahmoud Export
Manager
· Ihab Khafaja Finance
Manager
· Ashraf Abdulmoniem Sales
Manager
Date of
Establishment : 1982
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 93251, Tanta
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
· Munir Munir
Mahmoud Sulaiman
· Omar Munir Munir
Mahmoud Sulaiman
· Yousef Munir Munir
Mahmoud Sulaiman
· Nour Munir Munir
Mahmoud Sulaiman
Activities: Engaged as processors of olives and pickles and manufacturers of olive
oil.
Import Countries: Europe and the Far East.
Brand Names: AL MALEKA
Subject has a workforce of approximately 150 employees.
Companies registered in Egypt are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
Commercial International Bank (CIB)
55 El Gesh Street
Tanta
Tel: (20-40)
3310612 / 3313612
Fax: (20-40)
3314900
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 company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.78 |
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1 |
Rs.85.16 |
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Euro |
1 |
Rs.67.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.