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Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
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Name : |
KAYOTOYAA ENGINEERING INCORPORATED |
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|
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Registered Office : |
No. 22B, Apartment No. 13 Road No. 219 Maadi, Degla Cairo 11435 |
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Country : |
Egypt |
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Year of Incorporation : |
2010 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Distributors of engineering products and machinery for turnkey projects |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Branch of a Foreign Registered Corporation |
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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 |
|
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 : KAYOTOYAA ENGINEERING INCORPORATED
Country of Origin : British Virgin Islands
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 2010
Total Workforce : 5
Activities : Distributors of engineering products and machinery for turnkey projects
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Kamel Taha, Managing Director
KAYOTOYAA ENGINEERING
INCORPORATED
Building : No. 22B,
Apartment No. 13
Street : Road No. 219
Area : Maadi, Degla
Town : Cairo 11435
Country : Egypt
Telephone : (20-2) 25197047
Facsimile : (20-2)
25175911
Mobile : (20-122)
2237576
Email : kayotoyaa@gmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Name Position
· Kamel Taha Managing
Director
Date of Establishment : 2010
Legal Form : Subject is the
Egypt registered branch of Kayotoyaa Engineering Incorporated, a Limited
Liability Company
incorporated in British Virgin Islands.
Kayotoyaa Engineering Incorporated in Egypt, operates as a Branch of a
Foreign Registered
Corporation.
A Branch
of a Foreign Registered Corporation is not a legal entity in its own right.
Responsibility for payments lays in the hands of the company where it is
originally
registered.
Under
these circumstances, we strongly advise that any international trade credit
should
only
be written under the name of the main company where the subject holds its
registered
office, in this case the British Virgin Islands.
· Auto Tek Industry
22B Road No. 219,
Apartment No. 13
Maadi, Degla
Cairo
CR No. 14970
Activities: Engaged in the import and distribution of engineering products and
machinery for turnkey projects.
Import Countries: Europe and the Far East
Subject has a workforce of 5 employees.
Companies registered in Egypt are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
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.52.97 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.20 |
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.