MIRA INFORM REPORT

 

 

Report Date :

09.03.2013

 

IDENTIFICATION DETAILS

 

Name :

AMR MAHMOUD FARHA CHEMICAL

 

 

Formerly Known As :

TEXTILE CHEMICAL

 

 

Registered Office :

14 El Guindy Street, Off Misr El Sudan Street, Mahalla El Kubra

 

 

Country :

Egypt

 

 

Date of Incorporation :

1995

 

 

Com. Reg. No.:

32472

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of chemicals for textile dying as well as optical brighteners

 

 

No. of Employees :

10

 

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

 

 

SUMMARY

 

Company Name                                     : AMR MAHMOUD FARHA CHEMICAL

Also Known As                                      : TEXTILE CHEMICAL

Country of Origin                                    : Egypt

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 1995

Commercial Registration Number            : 32472

Invested Capital                                     : £E 50,000

Total Workforce                                     : 10

Activities                                               : Distributors of chemicals for textile dying as well as optical brighteners

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

 

 

COMPANY NAME

 

AMR MAHMOUD FARHA CHEMICAL

 

ALSO KNOWN AS

 

TEXTILE CHEMICAL

 

ADDRESS

 

Registered & Physical Address

 

Location            : 14 El Guindy Street, Off Misr El Sudan Street

Town                 : Mahalla El Kubra

Country             : Egypt

 

Telephone         : (20-40) 2382095 / 2381310

Facsimile          : (20-40) 2481310 / 2382095

Mobile               : (20-10) 8005053

Email                : farha@textilechemicals.com / farha@textilechemicals.com.eg / amr@textilechemicals.com.eg

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Mahalla El Kubra.

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Amr Mahmoud Farha                                                                     Proprietor & General Manager

 

·       Rania Jalal                                                                                        Assistant General Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1995

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 32472

 

Invested Capital           : £E 50,000

 

Dr Amr Mahmoud Farha is the sole proprietor of the business.

 

OPERATIONS

 

Activities: Engaged in the import and distribution of chemicals for textile dying as well as optical brighteners.

 

Import Countries: Europe and India

 

Agencies Held:

 

·       Eskay Dye Stuff Organic Chemical Ltd            India

 

Subject has a workforce of 10 employees.

 

FINANCIAL DATA

 

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.

 

BANKERS

 

·       National Bank of Egypt

Main Branch

Mahalla El Kubra

 

·       Commercial International Bank

55 El Guish Street

Tanta

Tel: (20-40) 3310612

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

GENERAL COMMENTS

 

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 business is considered to be a fair trade risk.

 

 

 

                                                                                    

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.40

UK Pound

1

Rs.81.56

Euro

1

Rs.71.23

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.