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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
NEW AWA COMPANY FOR CHEMICAL RAW MATERIALS |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
2005 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of chemicals for pharmaceuticals, foodstuffs and
cosmetics. |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 :
NEW AWA COMPANY FOR
CHEMICAL RAW MATERIALS
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
2005
Commercial Registration Number :
5087
Tax Card Number :
213-363-879
Issued Capital :
£E 200,000
Paid up Capital :
£E 200,000
Total Workforce :
100
Activities :
Distributors of chemicals for pharmaceuticals, foodstuffs and cosmetics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
NEW AWA COMPANY FOR CHEMICAL RAW MATERIALS
Registered &
Physical Address
Street : 26 Bahaa El
Din Street
Area : Smouha
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4206820
/ 4206830 / 4253309
Facsimile : (20-3) 4253309
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Suburban Business Area of Alexandria.
Branch Office (s)
Location Description
Jordanian Area, Building No. 2, Sharkeya Rented
warehouse premises
Tenth of Ramadan City
Tel: (20-15) 387240
Fax: (20-15) 387250
5 Nakhla El Motaie Street Rented
office premises
Heliopolis
Cairo
Name Position
Mohamed Abd El Tawab Moubarak Managing
Partner
Akram Abd El Tawab Moubarak Partner
Hany Abd El Tawab Moubarak Partner
Ashraf Abd El Tawab Moubarak Partner
Ahmed Tawfik General
Manager
Date of Establishment : 2005
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 5087
Tax Card No. : 213-363-879
Import Reg. No. : 44358
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of
Shareholder (s)
Mohamed Abd El Tawab Moubarak
Akram Abd El Tawab Moubarak
Hany Abd El Tawab Moubarak
Ashraf Abd El Tawab Moubarak
Activities: Engaged in the import and distribution of chemicals for
pharmaceuticals, foodstuffs and cosmetics.
Import Countries: China, Europe, Brazil, Argentina, Malaysia, South Korea
and the United States of America
Agencies Held:
Argills BV
North China Pharmaceutical Victor Co Ltd
Shandong Shida Shenghua Chemical Co Ltd
Salicylates and Chemicals
Sorini Corporation
Lution Hongyuan Biochemical
Northeast Pharm
Wuxue Xunda Pharmaceutical Co Ltd
3V
Operating Trend: Steady
Subject has a workforce of 100 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
127,891,343 £E
132,044,907
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Egyptian Saudi Finance Bank
8 Bany El Abbasy Street
Azarita
Alexandria
Tel: (20-3) 4875672
No complaints regarding subject’s payments have been reported.
Date of transaction June
2007
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.