|
Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
EL DOHA FOR FOOD
STUFFS CO |
|
|
|
|
Registered Office : |
Industrial Zone, Plot
C4, Sharkeya, 10th of Ramadan City |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1990 |
|
|
|
|
Legal Form : |
Limited Liability
Partnership |
|
|
|
|
Line of Business : |
Distributors of vegetables
and spices |
|
|
|
|
No. of Employees : |
34 |
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 – 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 : EL DOHA FOR FOOD STUFFS CO
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 1990
Industrial
Registration Number :
189760
Issued Capital : £E
300,000
Paid up Capital : £E
300,000
Total Workforce : 34
Activities :
Distributors of vegetables and spices
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
EL DOHA FOR FOOD
STUFFS CO
Location : Industrial Zone, Plot C4, Sharkeya
Town : 10th of Ramadan
City
Country : Egypt
Telephone : (20-15) 370013 / 363109 / 363199 / 360511
Facsimile : (20-15) 360511
Mobile : (20-100) 1267310
Email : info@eldoha.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in the
Industrial Area of 10th of Ramadan City.
Name Position
·
Samy
Mahmoud Morsy Managing
Partner
·
Ahmed
Anwar Morsy Partner
·
Abd El
Hamid Said Finance
Manager
·
Mohamed
Said Sales
Manager
Date of Establishment : 1990
Legal Form :
Limited Liability
Partnership
Industrial Reg. No. : 189760
Issued Capital : £E 300,000
Paid up Capital : £E 300,000
·
Samy
Mahmoud Morsy
·
Ahmed
Anwar Morsy
Activities: Engaged in the import and distribution of
vegetables and spices.
Export
Countries: Saudi Arabia and
Libya
Brand Names: EL DOHA
Operating Trend: Steady
Subject has a
workforce of 34 employees.
Financial highlights
provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 12,125,000 £E 13,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Alexandria
49 Kasr El Nile Street
Cairo
Tel: (20-2) 4824056 / 4836073
Fax: (20-2) 4837468
·
National
Societe General Bank
5 Champollion Street
Cairo
Tel: (20-2) 27707777
Fax: (20-2) 27702664
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
|
1 |
Rs.88.84 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.