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Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALKAN CONSULT |
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Registered Office : |
10 El Mansour Mohamed Street, Zamalek, PO Box 544, El Orman, Giza
12612, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.01.2001 |
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Com. Reg. No.: |
44297 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject’s operations are performed through the following divisions: Communication & IT Division, Aviation
Division, Commercial & Power Division, Engineering Division, Railways
Division |
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|
|
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No. of Employees : |
115 |
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 |
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Status : |
Satisfactory |
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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 (31.03.2012) |
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 : ALKAN
CONSULT
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
21st January 2001
Commercial Registration Number :
44297, Cairo
Tax Card Number :
337-759-502
Issued Capital :
£E 100,000
Paid up Capital :
£E 100,000
Total Workforce :
115
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mahmoud Rabee, Finance Manager
ALKAN CONSULT
Registered &
Physical Address
Street : 10 El
Mansour Mohamed Street
Area : Zamalek
PO Box : 544, El Orman,
Giza 12612
Town : Cairo
Country : Egypt
Telephone : (20-2) 27366636
/ 27466635
Facsimile : (20-2)
27366630
Mobile : (20-100)
11199966 / 1227221
Email : alkconsult@alkanconsult.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Cairo.
Branch Offices
Location Description
15 Mokarar Moustafa Loutfy El Manflouty Street Office premises
Alexandria
Name Position
Hussein Mostafa Hussein Fahmy Managing
Partner
Mohamed Mahmoud Nosseir Partner
Mervat Mounir Administration
Manager
Sabri Abu El Maati Technical
Manager
Mahmoud Rabee Finance
Manager
Date of Establishment : 21st
January 2001
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 44297, Cairo
Tax Card No. : 337-759-502
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of
Shareholder (s) Percentage
Hussein Mostafa Hussein Fahmy 75%
Heirs of the late Mohamed Mahmoud Nosseir 25%
Alkan Air
2 El Messaha Square
Giza, Dokki
Cairo
Tel: (20-2) 27490140 / 27490142 / 27490143
Fax: (20-2) 27499253 / 23609932
Alkan Medical
2 El Messaha Square
Giza, Dokki
Cairo
Tel: (20-2) 27490140 / 27490142 / 27490143
Fax: (20-2) 27499253 / 23609932
Alkan Agro
2 El Messaha Square
Giza, Dokki
Cairo
Tel: (20-2) 27490140 / 27490142 / 27490143
Fax: (20-2) 27499253 / 23609932
Alkan Networks
8 El Gazayer Street
Maadi
Cairo
Tel: (20-2) 235197781
Fax: (20-2) 235198415
Alkan Telecom
8 El Gazayer Street
Maadi
Cairo
Tel: (20-2) 25197781
Fax: (20-2) 25198415
Quality Standard Information Technology
2 El Messaha Square
Giza, Dokki
Cairo
Tel: (20-2) 27490140 / 27490142 / 27490143
Fax: (20-2) 27499253 / 23609932
Alkan Communications
9 El Mokhtar Street
Maadi
Cairo
Tel: (20-2) 35169561
Fax: (20-2) 35169560
Almatex
2nd Industrial City
Sadat City
Tel: (20-48) 604055
Fax: (20-48) 604783
Alkan Construction
95 Hafez Ramadan Street
Nasr City
Cairo
Tel: (20-2) 22703094
Fax: (20-2) 22755105
Astra Travel
15 Demeshk Street
Mohandessin
Cairo
Tel: (20-2) 33446445
Fax: (20-2) 33036767
Alkan Pharma SAE
2 El Messaha Square
Dokki
Cairo
Tel: (20-2) 27490140
Fax: (20-2) 27499253
Cairo Financial Center
2 El Messaha Square
Giza, Dokki
Cairo
Tel: (20-2) 27490140 / 27490142 / 27490143
Fax: (20-2) 27499253 / 23609932
Alkan Investment
2 El Messaha Square
Giza, Dokki
Cairo
Tel: (20-2) 27490140 / 27490142 / 27490143
Fax: (20-2) 27499253 / 23609932
Alkan Realty Development
2 El Messaha Square
Giza, Dokki
Cairo
Tel: (20-2) 27490140 / 27490142 / 27490143
Fax: (20-2) 27499253 / 23609932
Activities: Subject’s operations are performed through the following divisions:
Communication & IT Division
Dedicated to introducing innovative and non-traditional solutions to the
Egyptian marketplace. In coordination with other members of the Alkan Group,
this division focuses on promoting solutions for E-learning and Remote
Education.
The Communication & Information Technology Division is currently paving the
way for Alkan Consult as well as other members of Group to participate in
Egypt's E-Government initiative through alliances and partnerships with
reputable players in this field. One key area that has been explored by the
Communication & Information Technology Division is Powerline
|Communications (PLC). This division, in cooperation with Ascom Powerline Communication
of Switzerland is currently undertaking the activities for introducing PLC in
Egypt, after obtaining the necessary approvals from the Ministry of
Electricity, Ministry of Communication and Information Technology and Telecom
Egypt.
Aviation Division
Acting as a consultant and service provider for several Multi-National
corporations, this division undertakes Aircraft Engineering & Maintenance
projects, including providing the required logistic and services, aircraft
checks and overhaul, component repair/overhaul including engines, APUs and
landing gears. The Aviation Division relies on its strong and solid
relationship with the Ministry of Civil Aviation as well as the expertise and
dedication of its dynamic staff to successfully deliver its assigned projects.
Commercial & Power Division
Dedicated towards activities within the Electricity, as well as the Oil
and Gas Sectors, the Commercial and Power Division provides government and
corporate relations services, as well as support and marketing activities for
its partners. The Commercial & Power Division, also provides power
generation projects with consultancy, contracting services and supplies.
Engineering Division
The Engineering Division assists several
reputable multi-national corporations in seeking business opportunities and
expanding their market share in Egypt. In addition to marketing and business
development activities, this division also provides its partners with pre and
post contract services, such as consultancy, project management and human
resources.
Railways Division
The Railways Division provides the required Rolling Stock services,
marketing and after sales support for reputable multi-national corporations in Egypt
and Sudan. The division also provides passenger coaches, freight wagons and
follow up on the spare parts requirements, warranty issues and delivery.
Operating Trend: Steady
Subject has a workforce of 115 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year Ending 31/12/10: Year Ending 31/12/11:
Total Sales £E
37,600,000 £E
40,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mahmoud Rabee, Finance Manager
Egyptian Gulf Bank
El Orman Plaza Building
8-10 Ahmed Nessim Street
Cairo
Tel: (20-2) 33606580 / 33606467
Fax: (20-2) 33420265 / 33606512
Banque du Caire SAE
22 Adly Street
PO Box: 1495
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
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.54.64 |
|
|
1 |
Rs.87.45 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.