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Report Date : |
16.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
DELTACHEM |
|
|
|
|
Registered Office : |
66 Gamal El Deen
Zaki Street, Gesr El Suez, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
January 2012 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Distributors of raw chemical materials |
|
|
|
|
No. of Employees : |
05 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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) |
|
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 : DELTACHEM
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : January 2012
Invested Capital : £E 30,000
Total Workforce : 5
Activities : Distributors of raw chemical materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Dr Abdul Hamid Abdul Hamid Abdul Ghani, Proprietor & General
Manager
DELTACHEM
Registered &
Physical Address
Street : 66 Gamal El Deen Zaki Street
Area : Gesr El Suez
Town : Cairo
Country : Egypt
Telephone : (20-2) 26988187 / 26988217
Facsimile : (20-2) 26986340
Mobile : (20-100) 2998498
Email : hamid@deltahem.com.eg
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Cairo.
Name Position
·
Dr
Abdul Hamid Abdul Hamid Abdul Ghani Proprietor
& General Manager
·
Mohamed
Fahmi Al Azougu Assistant
General Manager
Date of Establishment : January 2012
Legal Form :
Sole Proprietorship
Invested Capital
: £E 30,000
Dr Abdul Hamid
Abdul Hamid Abdul Ghani is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
raw chemical materials for the pharmaceutical industry.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 5 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.12 |
|
UK Pound |
1 |
Rs.85.15 |
|
Euro |
1 |
Rs.68.60 |
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.