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Report Date : |
05.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
AL EZZ FOR IMPORT EXPORT TRADING AGENCIES |
|
|
|
|
Registered Office : |
6 Managim &
Mahager Street, Mohandessin, Giza, Cairo |
|
|
|
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Country : |
Egypt |
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|
|
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Financials (as on) : |
31.12.2011 |
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|
|
Year of Establishment : |
2009 |
|
|
|
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Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Distributors of fertilizers and pesticides |
|
|
|
|
No. of Employees : |
05 employees |
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 |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 : AL EZZ FOR IMPORT EXPORT TRADING AGENCIES
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2009
Invested Capital : £E 50,000
Total Workforce : 5
Activities : Distributors of fertilizers and pesticides.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Noha Nabil, Sales Manager
AL EZZ FOR IMPORT
EXPORT TRADING AGENCIES
Registered &
Physical Address
Street : 6 Managim & Mahager Street
Area : Mohandessin, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 33456582 / 33456584
Facsimile : (20-2) 33456584
Email : info@alezzgroup.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Cairo.
Branch Office (s)
Location Description
·
El
Sadat City Office
premises
Prima Square
·
El
Sadat City Office
premises
Commercial Market Unit 4
·
Cairo –
Alex Desert Road, Km91 Office
premises
Cairo
Name Position
·
Ashraf
El Sayed El Ezz Proprietor
& General Manager
·
Noha
Nabil Sales
Manager
·
Said
Salem Technical
Manager
Date of Establishment : 2009
Legal Form :
Sole Proprietorship
Invested Capital
: £E 50,000
Mr Ashraf El Sayed
El Ezz is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
fertilizers and pesticides.
Import
Countries: Spain, India,
China, Jordan, Turkey, Germany and Italy.
International
Suppliers:
·
Triguisa Spain
·
Propelt Spain
·
Guragro Turkey
·
Sumil
Chemical Industries India
·
HC
Agrochemicals China
·
Beta
Chem China
·
Grabi Italy
·
Aglukon Germany
·
Bharat
India India
·
Tragusa Spain
·
India
Pesticides Ltd India
·
Indofil
Industries India
·
Al
Anfal Jordan
·
Lignokel Spain
·
Probeltefito Spain
Operating Trend: Steady
Subject has a
workforce of 5 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian Pound
(£E)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales £E 7,600,000 £E 8,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Citibank
PO Box: 188
Cairo
Tel: (20-2) 33551877 / 33551874
Fax: (20-2) 33558056
No complaints
regarding subject’s payments have been reported.
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.54 |
|
UK Pound |
1 |
Rs.88.23 |
|
Euro |
1 |
Rs.70.02 |
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.