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Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AMOUN FOR CHEMICALS TRADE SAE |
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Registered Office : |
68 Mohamed Ebrahem Street Takseem Omerebn Elkhatab Giser Elswis Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Incorporation : |
2009 |
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Com. Reg. No.: |
37610, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of chemicals for textiles and dyeing |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : AMOUN FOR CHEMICALS TRADE SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2009
Commercial Registration Number : 37610, Cairo
Tax Card Number : 310-993-768
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 15
Activities : Distributors of chemicals for textiles and dyeing
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Hany Isaac Wesa, Managing Director
AMOUN FOR CHEMICALS TRADE SAE
Street : 68 Mohamed
Ebrahem Street
Area : Takseem
Omerebn Elkhatab Giser Elswis
Town : Cairo
Country : Egypt
Telephone : (20-2) 26972680
Facsimile : (20-2)
26972680
Mobile : (20-128)
5003320
Email : amoun.chem@gmail.com
/ h_wesa@hotmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Name Position
· Hany Isaac Wesa Managing
Director
· Nossair Isaac Wesa Director
· Atef Ibrahim Director
Date of
Establishment : 2009
Legal Form : Egyptian Joint Stock
Company
Commercial Reg.
No. : 37610, Cairo
Tax Card No. : 310-993-768
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
· Hany Isaac Wesa
· Nossair Isaac Wesa
· Atef Ibrahim
Activities: Engaged in the import and distribution of chemicals for textiles and
dyeing.
Import Countries: India and Turkey.
International
Suppliers:
· Space
International India
· Corechem Turkey
Operating Trend: Steady
Subject has a workforce of 15 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
5,120,000 £E
5,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Hany Isaac Wesa, Managing Director
·
National Societe Generale Bank
5 Champollion
Street
Cairo
Tel: (20-2)
2770777
Fax: (20-2)
27702664
·
Bank of Alexandria
49 Kasr El Nile
Street
Cairo
Tel: (20-2) 24824056 / 24836073
Fax: (20-2) 24837468
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.54.16 |
|
|
1 |
Rs.82.45 |
|
Euro |
1 |
Rs.70.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.