|
Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
DELTA FOR TRADING CORP IMPORT AND EXPORT |
|
|
|
|
Registered Office : |
169 Autostrade Road, Sakr Koreish, New
Maadi, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishments: |
1978 |
|
|
|
|
Com. Reg. No.: |
221805, Cairo |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Import of tyres and chemicals and the export of fresh fruits and vegetables, as well as medicinal and aromatic herbs |
|
|
|
|
No. of Employees : |
30 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 : DELTA FOR TRADING CORP IMPORT AND EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Start Date : 1978
Registration Date : 15th November 1982
Commercial Registration Number : 221805, Cairo
Tax Card Number : 100-048-307
Invested Capital : £E 10,000,000
Total Workforce : 30
Activities : Import of tyres and chemicals and the export of fresh fruits and vegetables, as well as medicinal and aromatic herbs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Fathi Abd El Ghani Hamed, Assistant General Manager
DELTA FOR TRADING
CORP IMPORT AND EXPORT
Registered &
Physical Address
Street : 169 Autostrade Road
Area : Sakr Koreish, New
Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 25190766 / 25190955
/ 25192823
Facsimile : (20-2) 27539045
Mobile : (20-16) 6122299 / (20-10) 1017589 /
66122299
Email : deltacorp@link.com.eg
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Cairo.
Name Position
·
Fathi Abd El Ghani Hamed Proprietor
& General Manager
·
Mohamed Fathi Abd El Ghani Hamed Assistant
General Manager
·
Mohamed El Arabi Financial
Controller
·
Abd El
Ghani Abd El Ghani Administration
Manager
·
Moustafa
Shehata Sales
Manager
Date of Establishment : 1978 (However
subject was registered on 15th November 1982)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 221805, Cairo
Tax Card No. : 100-048-307
Invested Capital
: £E 10,000,000
Mr Fathi Abd El Ghani
Hamed is the sole proprietor of
the business.
Activities: Engaged in the import of tyres and
chemicals, including hydrogen peroxide, soda ash, acetic acid, citric acid,
ammonium chloride, caustic soda, solvents, phosphoric acid, and magnesium
carbonate.
Subject is also
engaged in the export of fresh fruits and vegetables, as well as medicinal and
aromatic herbs.
International
Suppliers:
·
Serla Seems Hypo Ltd India
Import
Countries: India, Italy,
France, Germany, China, Thailand and Japan.
Brand Names: SEE GING, LONG MARCH and SHAANXI
Operating Trend: Steady
Subject has a
workforce of 30 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales £E 13,710,000 £E 14,180,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Islamic
International Bank for Investment & Development
4 Addi Street
Dokki, Giza
Cairo
Tel: (20-2) 27489973
Fax: (20-2) 23498501
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.71 |
|
UK Pound |
1 |
Rs.82.79 |
|
Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.