|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
EL ERYAN FOR
IMPORT AND EXPORT GRAINS |
|
|
|
|
Registered Office : |
Shebeen Al
Qanater, Emtedad Al Shahid, Kaliubiya |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
08.07.2012 |
|
|
|
|
Com. Reg. No.: |
5720, Toukh |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Engaged in the
import and distribution of grains and dried foodstuffs. |
|
|
|
|
No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
|
Payment Behaviour : |
Unknown |
|
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 ERYAN
FOR IMPORT AND EXPORT GRAINS
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 8th
July 2012
Commercial
Registration Number : 5720,
Toukh
Invested Capital : £E 500,000
Total Workforce : 5
Activities :
Distributors of grains and dried foodstuffs
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
EL ERYAN FOR IMPORT
AND EXPORT GRAINS
Location : Shebeen Al Qanater, Emtedad Al
Shahid
Town : Kaliubiya
Country : Egypt
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Kaliubiya.
Name Position
·
El
Eryan Rawad Gergis Proprietor
& General Manager
Date of Establishment : 8th
July 2012
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 5720, Toukh
Invested Capital
: £E 500,000
Mr El Eryan Rawad Gergis
is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
grains and dried foodstuffs.
Subject has a
workforce of 5 employees.
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
No complaints
regarding subject’s payments have been reported.
Please note that we
were unable to contact the subject directly during our investigation.
Local sources
report that subject meets its payments in a timely manner and is considered to
be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.