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Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
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Name : |
NILE INTERNATIONAL FOR COMMERCIAL AGENCIES |
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|
|
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Registered Office : |
98 Talaat Harb
Street, Shebin El Kom, Menofeya |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.05.2011 |
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Com. Reg. No.: |
70139, Menofeya |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
importer and distributor of veterinary medicines,
drugs and vitamins |
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No. of Employees : |
08 |
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 |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 : NILE INTERNATIONAL FOR COMMERCIAL AGENCIES
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1st May 2011
Commercial Registration Number : 70139, Menofeya
Tax Card Number : 376-370-696
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 8
Activities : Distributors of veterinary medicines, drugs and vitamins
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ayman Jaber Ahmed Allam, Partner
NILE INTERNATIONAL
FOR COMMERCIAL AGENCIES
Registered &
Physical Address
Street : 98 Talaat Harb Street
Area : Shebin El Kom
Town : Menofeya
Country : Egypt
Telephone : (20-48) 2197713
Facsimile : (20-48) 2197713
Mobile : (20-100) 6363055 / 1226324 / 636055
(20-106) 8834588
Email : omara_2010@yahoo.com / aymanallam122@yahoo.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Menofeya.
Name Position
·
Ahmed
Mostafa Mahmoud Omarah Managing
Partner
·
Ayman
Jaber Ahmed Allam Partner
Date of Establishment : 1st
May 2011
Legal Form :
Limited Liability
Partnership
Commercial
Reg. No. : 70139, Menofeya
Tax
Card No. : 376-370-696
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Partner (s)
·
Ahmed Mostafa
Mahmoud Omarah
·
Ayman
Jaber Ahmed Allam
·
Allam
Company For Veterinary Products
106 Talaat Harb Street
Shebin El Koum
Menofeya
Activities: Engaged in the import and distribution of
veterinary medicines, drugs and vitamins.
Import
Countries: India
International Suppliers:
·
NGL Fine Chem Ltd India
·
HD Organic India
·
Squent Ltd India
Subject has a
workforce of 8 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/12:
Total Sales £E
5,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Societe Generale Bank
Shebin El Kom
Menofeya
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.62.36 |
|
|
1 |
Rs.101.11 |
|
Euro |
1 |
Rs.84.68 |
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 |
|
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.