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Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
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Name : |
BETA TECHNICAL & TRADING BUREAU |
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Registered Office : |
26 Asmaa Fahmy Street,
Merghany, Heliopolis, P O Box: 9031, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1985 |
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Com. Reg. No.: |
262060, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of chemicals for the paint and plastic
industries |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 : BETA TECHNICAL & TRADING BUREAU
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1985
Commercial Registration Number : 262060, Cairo
Tax Card Number : 100-478-093
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 30
Activities : Distributors of chemicals for the paint and plastic industries.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
BETA TECHNICAL
& TRADING BUREAU
Registered &
Physical Address
Street : 26 Asmaa Fahmy Street
Area : Merghany, Heliopolis
PO Box : 9031
Town : Cairo
Country : Egypt
Telephone : (20-2) 24185219 / 24179496 / 22914372
Facsimile : (20-2) 22915736
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
·
2 Salah
Magdy Street Office
premises
Ard El Golf
Heliopolis
Cairo
Tel: (20-2) 24178867 / 24181047
Name Position
·
Fahmy
Farouk El Husseiny Managing
Partner
·
Naglaa
Mohamed Ali Partner
·
Nabil
Hassan Finance
Manager
·
Mohamed
Farouk Sales
Manager
·
Ahmed
El Gedawy Marketing
Manager
·
Mohamed
Rashid Import
Manager
Date of Establishment : 1985
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 262060,
Cairo
Tax Card No. : 100-478-093
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of
Shareholder (s)
·
Fahmy
Farouk El Husseiny
·
Naglaa
Mohamed Ali
Activities: Engaged in the import and distribution of
chemicals for the paint and plastic industries.
Subject also distributes cables and bases for bridge construction.
Import
Countries: France, Germany,
Italy, Spain, India, China and Turkey.
Operating Trend: Steady
Subject has a workforce
of 30 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 26,800,000 £E 27,500,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Al
Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 33379363
Fax: (20-2) 33772959
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.54.27 |
|
UK Pound |
1 |
Rs.84.32 |
|
Euro |
1 |
Rs.70.99 |
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 |
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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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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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.