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Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
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Name : |
KHALIFA SONS FOR IMPORTING WOODS AND SCAFFOLD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1975 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of timber and metal stoppers and wooden panels. |
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No. of Employees : |
300 |
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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) |
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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 : KHALIFA SONS FOR IMPORTING WOODS
AND SCAFFOLD
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1975
Issued Capital :
£E 3,000,000
Paid up Capital :
£E 3,000,000
Total Workforce :
300
Activities :
Distributors of timber and metal stoppers and wooden panels.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
KHALIFA SONS FOR IMPORTING WOODS AND SCAFFOLD
Registered &
Physical Address
Street : 8 El Sabatya
Street, Sidi Said Square
Area : Boulak Abu
El Ela
Town : Cairo
Country : Egypt
Telephone : (20-2) 25763517
/ 25768388
Facsimile : (20-2)
25784656
Please note that subject had no knowledge of the following address, 32
Masjid Aqsa Street, Ardel Lewa, Giza, Cairo.
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
99 El Sabteya Street Office
premises
Boulak Abu El Ela
Cairo
Tel: (20-2) 25784656
Fax: (20-2) 25789255
3rd Industrial Zone Warehouse
premises
2nd Mehwar Khadamy, Plot 248
Street No. 36
6th of October City
Tel: (20-2) 38332951
Name Position
Gamal Khalifa Ali Chairman
Mohamed Khalifa Ali Director
Amr Gamal Khalifa Import
Manager
Said Mohamed El Said Finance
Manager
Date of Establishment : 1975
Legal Form : Egyptian Joint
Stock Company
Issued Capital : £E 3,000,000
Paid up Capital : £E 3,000,000
Name of Shareholder (s)
Gamal Khalifa Ali
Mohamed Khalifa Ali
Activities: Engaged in the import and distribution of timber and metal stoppers and
wooden panels used in the
building construction and furniture
industry.
Import Countries: India and China.
Subject has a workforce of approximately 300 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.
Cairo Far East Bank SAE
PO Box: 757
Cairo
Tel: (20-2) 33713554 / 33710280
Fax: (20-2) 33483818
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.5363 |
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|
1 |
Rs.86.17 |
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Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.