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Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
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Name : |
ABDEL FATTAH METWALLY KAMAR |
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Registered Office : |
45 Kasr El Nile Street Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Incorporation : |
1983 |
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Com. Reg. No.: |
219368 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesale and retail of dried food, as well as importing and distributing agricultural products and machinery. |
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No. of Employees : |
30 |
RATING & COMMENTS
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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 : |
Good |
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Payment Behaviour : |
Regular |
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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 : ABDEL FATTAH METWALLY KAMAR
Also Known As : QAMR FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1983
Commercial Registration Number : 219368, Cairo
Tax Card Number : 100-003-834
Invested Capital : £E 400,000
Total Workforce : 30
Activities : Wholesale and retail of dried food, as well as importing and distributing
agricultural products and machinery.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ABDEL FATTAH METWALLY KAMAR
QAMR FOR IMPORT & EXPORT
Location : 45 Kasr El Nile Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 23936926
/ 23936726
Facsimile : (20-2) 23936726
Mobile : (20-12) 2106583 / (20-10) 7290777
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
· Kumar Sahel Road Owned
warehouse premises
Agricultural Yield
109, Abd El Kader Road El Farag
Cornich El Nil
Shubra
Cairo
Tel: (20-2)
22021138
· Sahel
Road cross with Yosery Helmy Street Showroom
premises
El Farag
Cairo
Tel: (20-2)
22032820 / 22021138
Fax:
(20-2) 24314969
/ 23936726
Name Position
· Abd El
Fattah Metwally Kamar Proprietor
& General Manager
· Jaklan Morsi Assistant
General Manager
· Helmy Mounir Finance
Manager
· Amr Fayez Export
Manager
· Ismail
Antar Sales
Manager
· Heba Ahmed Administrative
Secretary
Date of
Establishment : 1983
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 219368, Cairo
Tax Card No. : 100-003-834
Invested Capital : £E 400,000
Mr Abd El Fattah Metwally Kamar is the
sole proprietor of the business.
Activities: Engaged in the wholesale and retail of dried food such as rice, lentils
and seeds.
Subject also imports and distributes agricultural products and
machinery.
Import Countries: Canada, Spain, France, Turkey, India and the
United Kingdom.
International Suppliers:
· Walkerseeds Canada
· Bitar United Kingdom
· Navega United Kingdom
Export Countries: Morocco, Spain, Italy, France and the United Arab
Emirates.
Operating Trend: Steady
Subject has a workforce of 30 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 290,000,000 £E 350,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
National Bank of Egypt
Evergreen Building
10 Talaat Harb
Street
Cairo
·
Misr International Bank (MIBANK)
14 Alfy Street
PO Box:
631
Cairo
Tel:
(20-2) 35931002
Fax:
(20-2) 35912306
No complaints regarding subject’s payments have been reported.
Credit amount 200,000 183,930
Amount overdue 0 0
Payment terms 90
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars Canadian
Dollars
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.64.22 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.21 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.