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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL AMAL FOR AGRICULTURAL CROPS SAE |
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|
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Registered Office : |
Nedeeba Street, Damanhour, Beheira 22511 |
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Country : |
Egypt |
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Date of Incorporation : |
1970 |
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Com. Reg. No.: |
63424 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Hulling of rice and the sorting and packaging of crops. |
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No. of Employees : |
95 |
RATING & COMMENTS
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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 |
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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 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 :
AL AMAL FOR AGRICULTURAL CROPS SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Start Date :
1970
Registration Date :
1990
Commercial Registration Number :
63424
Tax Card Number :
210-736-925
Issued Capital :
£E 10,000,000
Paid up Capital :
£E 10,000,000
Total Workforce :
95
Activities :
Hulling of rice and the sorting and packaging of crops.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Duhaa El Safti, Import Manager
AL AMAL FOR AGRICULTURAL CROPS SAE
Street : Nedeeba
Street
Area : Damanhour
Town : Beheira 22511
Country : Egypt
Telephone : (20-45) 3252525
/ 3252626 / 3252626
Facsimile : (20-45)
3252222
Mobile : (20-100)
3030108 / 5766660 / 0236360
Email : alamal@alamal.com
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Beheira.
Name Position
· Ragab Mahmoud
Shehata Managing
Director
· Emad Mahmoud
Shehata Director
· Mohamed Abdulwahab Mahmoud Shehata Director
· Duhaa El Safti Import
Manager
· Ayman Mabrook Financial
Controller
Date of
Establishment : 1970, however
subject was registered in 1990
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 63424
Tax Card No. : 210-736-925
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
· Ragab Mahmoud
Shehata 40%
· Emad Mahmoud
Shehata 30%
· Mohamed Abdulwahab Mahmoud Shehata 30%
Activities: Engaged in the hulling of rice and the sorting and packaging of crops,
including peas, sesame seeds,
sunflower seeds, corn, peanuts, dates, chickpeas, cumin, lentils, beans,
fennel and pumpkin seeds.
Import Countries: Europe and the Far East.
Subject has a workforce of 95 employees.
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.
·
National Bank of Egypt
Gamal Abdel Nasser
Street
Beheira
Tel: (20-45)
2910482
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.54.38 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.