|
Report Date : |
25.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
HANY SHABAN ABD EL GHANY SOKAR |
|
|
|
|
|
|
Registered Office : |
|
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Year of Establishment : |
1992 |
|
|
|
|
|
|
Com. Reg. No.: |
19380 |
|
|
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
|
|
Line of Business : |
Distributors of textiles |
|
|
|
|
|
|
No. of Employees : |
5 |
|
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 (31.03.2011) |
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 : HANY SHABAN ABD EL GHANY SOKAR
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1992
Commercial Registration Number : 19380
Invested Capital : £E 10,000
Total Workforce : 5
Activities : Distributors of textiles
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
HANY SHABAN ABD EL GHANY SOKAR
Location : Samanoud
Smaha Land
Town : Gharbeya
Country : Egypt
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Gharbeya.
Name Position
· Hany Shaban Abd El
Ghany Sokar Proprietor
& General Manager
Date of
Establishment : 1992
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 19380
Invested Capital : £E 10,000
Mr Hany Shaban Abd El Ghany Sokar is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of textiles.
Subject has a workforce of 5 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.
·
National Bank of Egypt
Abdel Hay Khalil
Street
Gharbeya
Tel: (20-40)
2230565
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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 and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.59 |
|
|
1 |
Rs.85.81 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.