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Report Date : |
27.11.2013 |
IDENTIFICATION DETAILS
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Name : |
AMRO HAMIDO ABD EL GHANY SOKAR |
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Registered Office : |
El Mansoura High Street, El Mahlla, Madkal Bait Al Hejara
Village, Gharbeya |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.06.1994 |
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Com. Reg. No.: |
29927, Gharbeya |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of cotton and threads for textiles and weaving. |
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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 :
AMRO HAMIDO ABD EL GHANY SOKAR
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
16th June 1994
Commercial Registration Number :
29927, Gharbeya
Invested Capital :
£E 100,000
Total Workforce :
20
Activities :
Distributors of cotton and threads for textiles and weaving.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Amro Hamido Abd El Ghany Sokar, Proprietor & General Manager
AMRO HAMIDO ABD EL GHANY SOKAR
Registered &
Physical Address
Street : El Mansoura
High Street
Area : El Mahlla,
Madkal Bait Al Hejara Village
Town : Gharbeya
Country : Egypt
Mobile : (20-100)
1903908 / 5399928
Email : amrosokar@hotmail.com
Please note that subject’s previous address was, Hamido Sokar Building,
El Magary Street, Samanoud, Gharbeya.
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Gharbeya.
Name Position
Amro Hamido Abd El Ghany Sokar Proprietor
& General Manager
Ahmed Saad Financial
Manager
Date of Establishment : 16th
June 1994
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 29927, Gharbeya
Invested Capital : £E 100,000
Mr Amro Hamido Abd El Ghany Sokar is the sole proprietor of the
business.
Hamid Abd El Ghany Sokar
El Mansoura High Street
El Mahlla, Madkal Bait Al Hejara Village
Gharbeya
Mob: (20-100) 1903908
CR No. 1052
Activities: Engaged in the import and
distribution of cotton and threads for textiles and weaving.
Import Countries: India
International
Suppliers:
Vardham Textile Ltd India
TLS Textile India
TLT Textile India
Operating Trend: Steady
Subject has a workforce of 20 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales £E
9,375,000 £E
10,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BNP Paribas
Mahala Branch
Shokry El Qawatly Street
El Mahalla, El Kobra, El Gharbeya
Tel: (20-40) 2246407/8
Fax: (20-40) 2246532
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.45 |
|
|
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.