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Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
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Name : |
MANSOUR FOR TRADING & DISTRIBUTION CO |
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Registered Office : |
El Shatr El Khames Industrial Area, New Maadi PO Box 97 Cairo 11435 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Incorporation : |
1993 |
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Com. Reg. No.: |
10670, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of food products and general consumer goods. |
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No. of Employees : |
1,720 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 : MANSOUR FOR TRADING & DISTRIBUTION CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1993
Commercial Registration Number : 10670, Cairo
Tax Card Number : 203-564-014
Issued Capital : £E 230,000,000
Paid up Capital : £E 230,000,000
Total Workforce : 1,720
Activities : Import and distribution of food products and general consumer goods.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MANSOUR FOR TRADING &
DISTRIBUTION CO
Location : El Shatr El
Khames Industrial Area, New Maadi
PO Box : 97
Town : Cairo 11435
Country : Egypt
Telephone : (20-2) 27548380
/ 27548375 / 27548382 / 2758393 / 27548384
Facsimile : (20-2)
27548385 / 25192515
Email : info@mansourgroup.com
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Industrial Area of Cairo.
Branch Office (s)
Location Description
· Moustafa Kamel
Street Rented
factory premises
El Ras El Soda
Alexandria
Tel:
(20-3) 5051600 / 5359099
Fax:
(20-3) 5051609 / 5345772
Name Position
· Yousef Mansour
Lotfy Mansour Chairman
· Mohamed Younis
Lotfy Mansour Director
· Yassin Ibrahim
Lotfy Mansour Director
· Nabil Barghash Director
· Onsy Nagy General
Manager
· El Sayed Mohamed
Hassan Finance
Manager
· Nabil Barghash Sales
Manager
· Hani El Maghraby Factory
Manager
· Asem Sharaf Administration
Manager
· Alaa El Wakil Export
Manager
Date of
Establishment : 1993
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 10670, Cairo
Tax Card No. : 203-564-014
Issued Capital : £E 230,000,000
Paid up Capital : £E 230,000,000
· Continental Holding
for Investment Financial
51.73%
Cairo
· Yousef Mansour
Lotfy Mansour 16.09%
· Mohamed Younis
Lotfy Mansour 16.09%
· Yassin Ibrahim
Lotfy Mansour 16.09%
Subject is a member of the Mansour Group of
Companies, which comprises the following concerns:
· Metro Market
Trading & Distribution
· Hayat for
Industrialization & Development
· Alexandria Dairy
& Food
· Al Mansour
Technologies & Electronics
· Mansour
Manufacturing Company (Free Zone)
· Al Mansour Leasing
Company
· Al Mansour
International Distribution Company
Activities: Engaged in the import and distribution of quality branded consumer
goods, specialising in foodstuff and tobacco. Subject supplies a network of
21,000 retailers; 200 Supermarkets and 1,500 Wholesalers.
In 1998, the company established a catering division focusing on Hotels,
Restaurants, Coffee shops as well as the Governmental Institution (around 350
outlets nationwide).
The company also operates a factory processing seafood and general
foodstuff products.
Import Countries: United Arab Emirates, the United Kingdom,
Switzerland and the United States of America.
International Suppliers:
· KEF United
Kingdom
· Kraft Jacob
Suchard United Kingdom
· California Garden United States of America
Brand Names: SUNSHINE, TANG, ALHANA, MARLBORO, YES and BEEF
Operating Trend: Steady
Subject has a workforce of approximately 1,720 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
753,585,075 £E
892,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
Commercial International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
·
Misr International Bank (MIBANK)
33, Safia Zaghloul
Street
Raml Station
Alexandria
Tel: (20-3)
4828174 / 4828213
Fax: (20-3) 4838216
·
American Express Bank
PO Box: 803
Alexandria
Tel: (20-3)
4950912
Fax: (20-3)
4950917
·
Citibank
95, 26th July Street
Azarita
Alexandria
Tel: (20-3) 4834363 / 4840342
Fax: (20-3) 4884363
·
Mashreq Bank
65 El Horreya
Street
Azarita
Alexandria
Tel: (20-3) 4956850
Fax: (20-3) 4912900
·
BNP Paribas
543 El Horreya
Road
Alexandria
Tel:
(20-3) 5859299
Fax:
(20-3) 5859270
No complaints regarding subject’s payments have been reported.
Credit amount 50,000
Amount overdue 0
Payment terms 30
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
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 |
|
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 |
|
-- |
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.