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Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
EL MOTAHEDA FOR
TRADING & DISTRIBUTION & AGRICULTURE AGENCIES SAE |
|
|
|
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Registered Office : |
159 Saad
Zaghloul Street, El Wasta, Beni Suef |
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|
|
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Country : |
Egypt |
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|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.02.2005 |
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|
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Com. Reg. No.: |
12502, Beni Suef |
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|
|
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Legal Form : |
Egyptian Joint
Stock Company |
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|
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Line of Business : |
Distributors of
agricultural equipment, chemicals and pesticides. |
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|
|
|
No. of Employees : |
20 |
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 |
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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 |
B1 |
B1 |
|
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 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 : EL
MOTAHEDA FOR TRADING & DISTRIBUTION & AGRICULTURE
AGENCIES SAE
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Start Date :
1976
Registration Date : 9th
February 2005
Commercial Registration
Number : 12502, Beni Suef
Import Licence
Number : 50666
Issued Capital : £E
10,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 20
Activities :
Distributors of agricultural equipment, chemicals and pesticides.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Alaa Ibrahim
Ab Dief, Managing Director
EL MOTAHEDA FOR
TRADING & DISTRIBUTION & AGRICULTURE AGENCIES SAE
Street : 159 Saad Zaghloul Street
Area : El Wasta
Town : Beni Suef
Country : Egypt
Telephone : (20-82) 2513225
Facsimile : (20-82) 2513307
Mobile : (20-100)
6683526 / 6683509 / 6683582
Email : abodeif@yahoo.com / aabodef@yahoo.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Beni Suef.
Name Position
·
Alaa
Ibrahim Abo Dief Managing
Director
·
Emad
Ibrahim Abo Deif Director
·
Hosni
Ibrahim Abo Deif Director
·
Fouad
Ibrahim Abo Deif Director
·
Ibrahim
Abo Deif Director
Date of Establishment : 1976 as a
limited liability partnership, however subject re-registered as a joint stock
company on 9th February 2005.
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 12502, Beni
Suef
Import Licence No. : 50666
Issued Capital : £E 10,000,000
Paid up Capital : £E 1,000,000
·
Alaa
Ibrahim Abo Deif
·
Emad
Ibrahim Abo Deif
·
Hosni
Ibrahim Abo Deif
·
Fouad
Ibrahim Abo Deif
·
Ibrahim
Abo Deif
Activities: Engaged in the import and distribution of
agricultural equipment, chemicals and pesticides.
Import
Countries: India
International Suppliers:
·
Agro Fresh Food International India
· Sugar Export India
Operating Trend: Steady
Subject has a workforce
of 20 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 7,920,000 £E 8,250,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque du Caire SAE
22 Adly Street
PO Box: 1495
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
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.54.89 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.