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Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARAB TRADE INVESTMENT AND COTTON TRADING CO
SAE (ATICOT) |
|
|
|
|
Registered Office : |
18 Yaccoub Artin
Street, Ismailia Square, Heliopolis, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
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Year of Establishments: |
1986 |
|
|
|
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Com. Reg. No.: |
239186, Cairo |
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|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Distributors of raw cotton |
|
|
|
|
No. of Employees : |
150 |
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 (31.03.2012) |
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 : ARAB TRADE INVESTMENT AND COTTON TRADING CO SAE
(ATICOT)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1986
Commercial Registration Number : 239186, Cairo
Tax Card Number : 200-001-299
Issued Capital : £E 40,000,000
Paid up Capital : £E 40,000,000
Total Workforce : 150
Activities : Distributors of raw cotton
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARAB TRADE
INVESTMENT AND COTTON TRADING CO SAE (ATICOT)
Registered &
Physical Address
Street : 18 Yaccoub Artin Street,
Ismailia Square
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 24171034
Facsimile : (20-2) 22916570
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
·
20 Al
Gomhoreya Abdin Office
premises
Cairo
Tel: (20-2) 23957744 / 23907611
Fax: (20-2) 23958040
·
7A
Sherif Street Office
premises
Mina El Basal
Alexandria
Tel: (20-3) 3621704
Fax: (20-3) 3629885
·
11 Abou
El Riesh Street Office
premises
Damanhour
Beheira
Tel: (20-45) 3322378
Fax: (20-45) 3302944
·
Kafr
Sakr Office
premises
Sharkeya
Tel: (20-55) 3181064
Fax: (20-55) 3187702
·
29 Port
Said Street Office
premises
Samalot
Minia
Tel: (20-86) 7719806
·
5 Entrance
A, El Gergaweya Buildings Office
premises
Assiut
Tel: (20-93) 2314119
·
Fayoum Office
premises
Tel: (20-84) 6372195
Name Position
·
Ezz El
Din Maghraby El Dabah Chairman
·
Amal
Saad Mohamed Director
·
Soheir Mohamed
Mahmoud Lotfy Director
·
Mohamed
Mahmoud Nofal Director
·
Mahmoud
Mohamed Mahmoud Lotfy Director
·
Mahmoud
Fahmi Amin Director
·
Nadia
Kamel Area
Manager
·
Abd El
Mawla Soliman Area
Manager
·
Ahmed
El Sebaie Area
Manager
·
Mohamed
Darwish Area
Manager
·
Osman
Mahgoub Ali Area
Manager
·
Aziz
Awad Area
Manager
Date of Establishment : 1986
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 239186,
Cairo
Tax Card No. : 200-001-299
Issued Capital : £E 40,000,000
Paid up Capital : £E 40,000,000
Name of Shareholder
(s) Percentage
·
Ezz El
Din Maghraby El Dabah 59.8%
·
Soheir
Mohamed Mahmoud Lotfy ]
]
·
Ahmed
Ezz El Din El Dabah ]
]
·
Zinab
Ezz El Din El Dabah ] 40.2%
]
·
Nahla
Ezz El Din El Dabah ]
]
·
Nourhan
Ezz El Din El Dabah ]
Activities: Engaged in the import and distribution of
raw cotton.
Import
Countries: Russia, Syria
and Greece.
Export
Countries: United States of
America, Turkey, India, Germany and Swaziland.
Operating Trend: Steady
Subject has a
workforce of 150 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 Revenue £E 98,410,617 £E 103,337,324
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
·
Bank of
Alexandria
49 Kasr El Nile Street
Cairo
Tel: (20-2) 4824056 / 4836073
Fax:
(20-2) 4837468
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject enjoys a good reputation for the quality of its products with
nothing detrimental uncovered regarding the manner in which operations are
conducted. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.65 |
|
UK Pound |
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
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.