|
Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
EL SAFAA COMPANY
FOR EXPORT AND IMPORT |
|
|
|
|
Registered Office : |
Damanhour Road,
Hosa Aysa 13, Beheira 22728 |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishment : |
2007 |
|
|
|
|
Com. Reg. No.: |
66163, Beheira |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Distributors of
sesame seeds, humus, beans and spices. |
|
|
|
|
No. of Employees : |
12 |
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 – 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 : EL SAFAA
COMPANY FOR EXPORT AND IMPORT
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 2007
Commercial
Registration Number : 66163,
Beheira
Tax Card Number : 398-217-599
Invested Capital : £E 100,000
Total Workforce : 12
Activities :
Distributors of sesame seeds, humus, beans and spices.
Financial Condition : Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dr Eman Karam
Ali Khalaf, Assistant General Manager
EL SAFAA COMPANY
FOR EXPORT AND IMPORT
Street : Damanhour Road
Area : Hosa Aysa 13
Town : Beheira 22728
Country : Egypt
Telephone : (20-45) 2707772
Facsimile : (20-45) 2707774
Mobile : (20-111) 4250000 / (20-114)
3619999
Email : info@elsafaonline.com / elsafacompany02@gmail.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Beheira.
Name Position
·
Karam Ali
Khalaf Proprietor
& General Manager
·
Dr Eman
Karam Ali Khalaf Assistant
General Manager
Date of Establishment : 2007
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 66163,
Beheira
Tax Card No. : 398-217-599
Invested Capital
: £E 100,000
Mr Karam Ali Khalaf
is the sole proprietor of the business.
Activities: Engaged
in the import and distribution of sesame seeds, humus, beans and spices.
Import
Countries: India
International
Suppliers:
·
NHT
Foods India
·
Asian Food Co India
·
GS Export India
·
Agro Trade India
·
Mahesh Exim India
Operating Trend: Steady
Subject has a
workforce of 12 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 9,350,000 £E 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Alexandria
International Bank SAE
29 El Nabi Daniel Street
Alexandria
·
Arab
International Bank
2 El Horreya Road
Alexandria
Tel: (20-3) 4869873
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.68.36 |
|
|
1 |
Rs.106.03 |
|
Euro |
1 |
Rs.91.47 |
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 |
|
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.