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Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ABU EL ELAA
COMPANY FOR IMPORT & EXPORT |
|
|
|
|
Registered Office : |
El Dingat, Abou
Samaada, Beheira |
|
|
|
|
Country : |
Egypt |
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|
|
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Financials (as on) : |
31.12.2012 |
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|
|
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Date of Incorporation : |
2005 |
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|
|
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Com. Reg. No.: |
7012, Beheira |
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|
|
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Legal Form : |
Limited Liability
Partnership |
|
|
|
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Line of Business : |
Distributors of
dried foodstuffs. |
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|
|
|
No. of Employees : |
17 |
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 : |
Usually correct |
|
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 : ABU EL ELAA COMPANY
FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 2005
Commercial
Registration Number : 7012, Beheira
Issued Capital : £E
50,000
Paid up Capital : £E
50,000
Total Workforce : 17
Activities :
Distributors
of dried foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ABU EL ELAA COMPANY
FOR IMPORT & EXPORT
Location : El Dingat, Abou Samaada
Town : Beheira
Country : Egypt
Telephone : (20-45) 3605369
Facsimile : (20-45) 3605369
Mobile : (20-100) 1140664 / (20-109)
9922488
Email : info@abouelelaa.com / taheritrader@gmail.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Beheira.
Name Position
·
Karm Mohamed Ahmed Abu El Elaa Managing
Partner
·
Mohamed Mohamed Ahmed Abu El Elaa Partner
Date of Establishment : 2005
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 7012, Beheira
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
·
Karm Mohamed Ahmed Abu El Elaa
·
Mohamed Mohamed Ahmed Abu El Elaa
Activities: Engaged in the import and distribution
of dried foodstuffs, including spices and herbs.
Import
Countries: India, Sri Lanka
and China.
Operating Trend: Steady
Subject has a
workforce of 17 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales £E 8,250,000 £E
8,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
Baroud District
Beheira
Tel: (20-45) 432889
·
Suez
Canal Bank
11 Mohamed Sabry Abu Alam Street
Cairo
Tel: (20-2) 23913518
Fax: (20-2) 23921300
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.81 |
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.