MIRA INFORM REPORT

Report Date :

12.03.2013

IDENTIFICATION DETAILS

Name :	MANSOUR FOR TRADING & DISTRIBUTION CO

Registered Office :	El Shatr El Khames Industrial Area, New Maadi 97 Cairo 11435

Country :	Egypt

Financials (as on) :	31.12.2012

Date of Incorporation :	1993

Com. Reg. No.:	10670, Cairo

Legal Form :	Limited Liability Partnership

Line of Business :	Import and distribution of food products and general consumer goods

No. of Employees :	1,720

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
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 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Egypt

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 : MANSOUR FOR TRADING & DISTRIBUTION CO

Country of Origin : Egypt

Legal Form : Limited Liability Partnership

Registration Date : 1993

Commercial Registration Number : 10670, Cairo

Tax Card Number : 203-564-014

Issued Capital : £E 230,000,000

Paid up Capital : £E 230,000,000

Total Workforce : 1,720

Activities : Import and distribution of food products and general consumer goods

Financial Condition : Good

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

MANSOUR FOR TRADING & DISTRIBUTION CO

ADDRESS

Registered & Physical Address

Location : El Shatr El Khames Industrial Area, New Maadi

PO Box : 97

Town : Cairo 11435

Country : Egypt

Telephone : (20-2) 27548380 / 27548375 / 27548382 / 2758393 / 27548384

Facsimile : (20-2) 27548385 / 25192515

Email : info@mansourgroup.com

Premises

Subject operates from a large suite of offices and a warehouse that are rented and located in the Industrial Area of Cairo.

Branch Office (s)

Location Description

· Moustafa Kamel Street Rented factory premises

El Ras El Soda

Alexandria

Tel: (20-3) 5051600 / 5359099

Fax: (20-3) 5051609 / 5345772

KEY PRINCIPALS

Name Position

· Yousef Mansour Lotfy Mansour Chairman

· Mohamed Younis Lotfy Mansour Director

· Yassin Ibrahim Lotfy Mansour Director

· Nabil Barghash Director

· Onsy Nagy General Manager

· El Sayed Mohamed Hassan Finance Manager

· Nabil Barghash Sales Manager

· Hani El Maghraby Factory Manager

· Asem Sharaf Administration Manager

· Alaa El Wakil Export Manager

LEGAL FORM & OWNERS

Date of Establishment : 1993

Legal Form : Limited Liability Partnership

Commercial Reg. No. : 10670, Cairo

Tax Card No. : 203-564-014

Issued Capital : £E 230,000,000

Paid up Capital : £E 230,000,000

Name of Shareholder (s) Percentage

· Continental Holding for Investment Financial 51.73%

Cairo

· Yousef Mansour Lotfy Mansour 16.09%

· Mohamed Younis Lotfy Mansour 16.09%

· Yassin Ibrahim Lotfy Mansour 16.09%

AFFILIATED COMPANIES

Subject is a member of the Mansour Group of Companies, which comprises the following concerns:

· Metro Market Trading & Distribution

· Hayat for Industrialization & Development

· Alexandria Dairy & Food

· Al Mansour Technologies & Electronics

· Mansour Manufacturing Company (Free Zone)

· Al Mansour Leasing Company

· Al Mansour International Distribution Company

OPERATIONS

Activities: Engaged in the import and distribution of quality branded consumer goods, specialising in foodstuff and tobacco. Subject supplies a network of 21,000 retailers; 200 Supermarkets and 1,500 Wholesalers.

In 1998, the company established a catering division focusing on Hotels, Restaurants, Coffee shops as well as the Governmental Institution (around 350 outlets nationwide).

The company also operates a factory processing seafood and general foodstuff products.

Import Countries: United Arab Emirates, the United Kingdom, Switzerland and the United States of America.

International Suppliers:

· KEF United Kingdom

· Kraft Jacob Suchard United Kingdom

· California Garden United States of America

Brand Names: SUNSHINE, TANG, ALHANA, MARLBORO, YES and BEEF

Operating Trend: Steady

Subject has a workforce of approximately 1,720 employees.

FINANCIAL DATA

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 753,585,075 £E 892,000,000

Local sources consider subject’s financial condition to be Good.

The above financial figures are based on estimations by our local sources.

BANKERS

· Commercial International Bank (CIB)

61 Sultan Hussein Street

Alexandria

Tel: (20-3) 4824643 / 4834255

Fax: (20-3) 4832240

· Misr International Bank (MIBANK)

33, Safia Zaghloul Street

Raml Station

Alexandria

Tel: (20-3) 4828174 / 4828213

Fax: (20-3) 4838216

· American Express Bank

PO Box: 803

Alexandria

Tel: (20-3) 4950912

Fax: (20-3) 4950917

· Citibank

95, 26^th July Street

Azarita

Alexandria

Tel: (20-3) 4834363 / 4840342

Fax: (20-3) 4884363

· Mashreq Bank

65 El Horreya Street

Azarita

Alexandria

Tel: (20-3) 4956850

Fax: (20-3) 4912900

· BNP Paribas

543 El Horreya Road

Alexandria

Tel: (20-3) 5859299

Fax: (20-3) 5859270

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

Date of transaction May 2008

Credit amount 50,000

Amount overdue 0

Payment terms 30 days

Payment Method Letters of Credit

Paying record No Complaints

Currency Euros

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 company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.29
UK Pound	1	Rs.81.08
Euro	1	Rs.70.61

INFORMATION DETAILS

Report Prepared by :

PDT

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.