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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NOUR ELDEEN
IMPORT & EXPORT AGENCIES |
|
|
|
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Registered Office : |
Al Awkaf Building, 1st Floor, Al Gala Street, Gomhouria
Square, Tanta |
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|
|
|
Country : |
Egypt |
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|
|
Financials (as on) : |
31.12.2012 |
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|
|
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Date of Incorporation : |
01.12.2009 |
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|
|
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Com. Reg. No.: |
131114, Tanta |
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|
|
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Legal Form : |
Sole
Proprietorship |
|
|
|
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Line of Business : |
Distributors of general foodstuff products, dairy products, canned fish, fruit and vegetables. |
|
|
|
|
No. of Employees : |
10 |
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 : NOUR ELDEEN IMPORT
& EXPORT AGENCIES
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 1st
December 2009
Commercial
Registration Number : 131114,
Tanta
Tax Card Number : 315-985-518
Invested Capital : £E 50,000
Total Workforce : 10
Activities :
Distributors of general foodstuff products, dairy products, canned fish, fruit
and vegetables.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Heba Hegazi,
Import Manager
NOUR ELDEEN IMPORT
& EXPORT AGENCIES
Building : Al Awkaf Building, 1st Floor
Street : Al Gala Street
Area : Gomhouria
Square
Town : Tanta
Country : Egypt
Telephone : (20-40) 3353335
Facsimile : (20-40) 3342116
Mobile : (20-12) 2299984 / (20-10)
1916191 / (20-19) 8887919
Email : eltojareya.co@hotmail.com
/ egynour@hotmail.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Tanta.
Name Position
·
Nour Eldeen Saeed Nour Eldeen Proprietor
& General Manager
·
Heba Hegazi Import
Manager
·
Mohamed Mahrous Finance
Manager
·
Mohmaed Fathi Accountant
Date of Establishment : 1st
December 2009
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 131114, Tanta
Tax Card No. : 315-985-518
Invested Capital
: £E 50,000
Mr Nour Eldeen Saeed
Nour Eldeen is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuff products, dairy products, canned fish, fruit and vegetables.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 10 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales £E 4,550,000 £E 4,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Piraeus
Bank
48 El Guish Street
Tanta
Tel: (20-40) 3350659
Fax: (20-40) 3350681
·
National
Societe General Bank
El Safwa Plaza
Tanta
Tel: (20-40) 3385600
Fax: (20-40) 3385699
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.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
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.