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Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
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Name : |
KIRA TRADING & SUPPLIES |
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Registered Office : |
El Shahed Tower, 2nd Floor, Flat No. 203, 20 Nagaty Serag
Street, Nasr City, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
31450, Cairo |
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Distributors of stainless steel sheets |
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No. of Employees : |
16 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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 :
KIRA TRADING & SUPPLIES
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
1997
Commercial Registration Number :
31450, Cairo
Invested Capital :
£E 75,000
Total Workforce :
16
Activities :
Distributors of stainless steel sheets
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
KIRA TRADING & SUPPLIES
Registered &
Physical Address
Building : El Shahed
Tower, 2nd Floor, Flat No. 203
Street : 20 Nagaty
Serag Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 25799105
/ 25752886 / 22700806
Facsimile : (20-2)
25740484
Mobile : (20-10)
9011489 / (20-12) 5076950
Email : kira@link.com.eg
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
Main Road Rented
warehouse
Kaliub
Kaliubeya
Name Position
Mrs Hala Kamal Kira Proprietor
& General Manager
Ahmed Al Najjarm Assistant
General Manager
Mohamed Badr Sales
Manager
Naggar El Deeb Finance
Manager
Ahmed Roushdy Commercial
Manager
Mahmoud Yaseen Administration
Manager
Date of Establishment : 1997
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 31450, Cairo
Invested Capital : £E 75,000
Mrs Hala Kamal Kira is the sole proprietor of the business.
Activities: Engaged in the import and distribution of stainless steel sheets.
Import Countries: Spain and France.
International Suppliers:
Parador Spain
Total Stone Spain
Modular Art Spain
Barisol France
Agencies Held:
Acciai Vender Group
Intrex S.R.I
Acciai Cogne
Eurinox
Steel Color
Alz N.V.
KNC Stahlhandel
NSC Krefeld (Krupp)
Sankei Konzaco
Socona Holding
Operating Trend: Steady
Subject has a workforce of 16 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
9,280,000 £E
9,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
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.