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Report Date : |
06.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL RAWAG INTERNATIONAL TRADING CO |
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|
|
|
Registered Office : |
9/13 El Oruba
Street, off Algeria Street, New Maadi, Cairo 11435 |
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|
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Year of Establishments: |
2000 |
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|
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Com. Reg. No.: |
54305, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
importer and distributor of printing and packaging materials as well as machinery
and related products. |
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|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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, pushing up unemployment levels,
and economic growth is likely to remain slow amid political uncertainty. Cairo
since 2011 has drawn down foreign exchange reserves and depended on foreign
assistance to finance imports and prevent further devaluation of the Egyptian
pound, fearing higher inflation from a weaker currency.
|
Source : CIA |
Company Name : AL RAWAG INTERNATIONAL TRADING CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Start Date : 2000
Registration Date : 2nd May 2007
Commercial Registration Number : 54305, Cairo
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 20
Activities :
Distributors of printing and packaging materials as
well as machinery
and related products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL RAWAG
INTERNATIONAL TRADING CO
Registered &
Physical Address
Street : 9/13 El Oruba Street, off
Algeria Street
Area : New Maadi
Town : Cairo 11435
Country : Egypt
Telephone : (20-2) 27033248
/ 27033068
Facsimile : (20-2) 27033248
Mobile : (20-100) 0229943 / 2809271
Email : info@alrawag.com
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Central Business Area of Cairo.
Name Position
·
Mohamed Sayed Hassan Fayed Managing
Partner
·
Amro Sayed Hassan Fayed Partner
·
Sayed Hassan Fayed Partner
Date of Establishment : Subject’s
operations date back to 2000, however it was registered on 2nd May
2007
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 54305, Cairo
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of
Shareholder (s)
·
Mohamed Sayed Hassan Fayed
·
Amro Sayed Hassan Fayed
·
Sayed Hassan Fayed
Activities: Engaged in the import and distribution of printing and packaging materials as well as machinery and
related products.
Import
Countries: Italy, India and
the United States of America.
Agencies Held:
·
Delta
Plastic
·
Crocco
·
Wuxi
Chemical
·
Pro
Pack
·
Swrwrapnet
Ambalaj
International Suppliers:
·
Ester Industries Ltd India
·
Arvind
Rubber Web Control India
·
Uflex India
·
3M United
States of America
·
Crocco Italy
·
Radobla Italy
Brand Names: DELTA PLASTIK, WUXI CHEMICAL, PRO-PACK,
SWRWRAPNET AMBALAJ, SILSTAR,
MOZART and CIOLA
Operating Trend: Steady
Subject has a
workforce of 20 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Sales £E 19,360,000 £E 20,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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.
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
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.60.32 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.