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Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
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Name : |
ELECTRO ENERGY EGYPT (EEE) |
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Registered Office : |
Building No. 27, 1st Block, Apartment 1 Sheikh Zayed City, Giza
Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
01.04.2012 |
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Com. Reg. No.: |
60986, Giza |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of cables, transformers, panel controls and switchgears. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Egypt |
A2 |
A2 |
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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 : ELECTRO ENERGY EGYPT (EEE)
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1st April 2012
Commercial Registration Number : 60986, Giza
Invested Capital : £E 500,000
Total Workforce : 8
Activities : Distributors of cables, transformers, panel controls and switchgears.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ELECTRO ENERGY EGYPT (EEE)
Building : Building No.
27, 1st Block, Apartment 1
Area : Sheikh Zayed
City, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 38517230 / 38517240
Facsimile : (20-2) 38517230
Mobile : (20-114) 45847811
Email : info@eee-eg.com
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of Cairo.
Name Position
· Essam Jaber Ibrahim Proprietor
& General Manager
· Mohamed Fathim Assistant
General Manager
Date of
Establishment : 1st
April 2012
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 60986, Giza
Invested Capital : £E 500,000
Mr Essam Jaber Ibrahim is
the sole proprietor of the business.
Activities: Engaged in the import and distribution of cables, transformers, panel controls and switchgears.
Import Countries: Europe and GCC countries.
International Suppliers:
· Al Fanar Group Saudi Arabia
Subject has a workforce of 8 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Banque Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2)
33912711 / 33912106
Fax: (20-2)
33919779
No complaints 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
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|
1 |
Rs.87.50 |
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Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.