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Report Date : |
03.08.2013 |
IDENTIFICATION DETAILS
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Name : |
EDU HOUSE |
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Registered Office : |
57 Abo Rdees Street, Sidi Beshr, Alexandria |
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Country : |
Egypt |
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Date of Incorporation : |
01.02.2012 |
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Com. Reg. No.: |
75926, Alexandria |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and
distribution of books and education materials. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Egypt |
B1 |
B1 |
|
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 backtracked on economic reforms, drastically increasing
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 were among the
hardest hit sectors of the Egyptian economy, and economic growth is likely to
remain slow during the next several years. The government drew down foreign
exchange reserves by more than 50% in 2011 and 2012 to support the Egyptian
pound and the dearth of foreign financial assistance - as a result of
unsuccessful negotiations with the International Monetary Fund over a
multi-billion dollar loan agreement which have dragged on more than 20 months -
could precipitate fiscal and balance of payments crises in 2013.
|
Source
: CIA |
Company Name :
EDU HOUSE
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
1st February 2012
Commercial Registration Number :
75926, Alexandria
Tax Card Number : 405-838-840
Invested Capital :
£E 20,000
Total Workforce :
5
Activities :
Import and distribution of books and education
materials
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
EDU HOUSE
Street : 57 Abo Rdees
Street
Area : Sidi Beshr
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5537352
Facsimile : (20-3) 5537352
Mobile : (20-100)
2614957
Email : mkik@eduhousepublishing.com
/ kik4all@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Alexandria.
Name Position
· Mohamed Mamoudah Kik Proprietor
& General Manager
Date of
Establishment : 1st
February 2012
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 75926, Alexandria
Tax Card No. : 405-838-840
Invested Capital : £E 20,000
Mr Mohamed Mamoudah Kik is the sole
proprietor of the business.
Activities: Engaged in the import and distribution
of books and education materials.
Import Countries: South Africa
International Suppliers:
· Edu Cat South
Africa
Subject has a workforce of 5 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Credit Agricole Egypt
14 Salah Salem
Street
Alexandria
Tel: (20-3)
4851802
Unknown regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.