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Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
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Name : |
CHEMTECH INTERNATIONAL |
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Registered Office : |
43 Bitcho
Building, Maadi, |
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Country : |
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Date of Incorporation : |
16.12.2013 |
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Com. Reg. No.: |
70365, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import,
processing and distribution of speciality chemicals as well as tools and
industrial equipment. |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Egypt |
B1 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 growth. Poor living conditions
combined with limited job opportunities for the average Egyptian contribute 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 remains slow amid political uncertainty, government
transitions, unrest, and cycles of violence. Cairo since 2011 has drawn down
foreign exchange reserves and depended on foreign assistance, particularly from
Gulf countries, to finance imports and energy products and prevent further
devaluation of the Egyptian pound, fearing higher inflation from a weaker
currency
|
Source
: CIA |
Company Name : CHEMTECH INTERNATIONAL
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 16th
December 2013
Commercial
Registration Number : 70365,
Cairo
Tax Card Number : 463-423-852
Issued Capital : £E
180,000
Paid up Capital : £E
180,000
Total Workforce : 18
Activities :
Import, processing and distribution of speciality chemicals as well as tools
and industrial equipment.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Nancy Fathi,
Operations Co-ordinator
CHEMTECH
INTERNATIONAL
Building : 43 Bitcho Building
Area : Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 26172159
Facsimile : (20-2) 26172193
Mobile : (20-10) 11922008 / 60060084
Email : info@chemtech-egypt.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
Name Position
·
Ihab
Mostafa Managing Partner
·
Osama
Wahba Marketing
Manager
·
Nadya
Awadha Finance
Manager
·
Nancy
Fathi Operations
Co-ordinator
Date of Establishment : 16th
December 2013
Legal Form :
Limited Liability
Partnership
Commercial
Reg. No. : 70365, Cairo
Tax
Card No. : 463-423-852
Issued Capital : £E 180,000
Paid up Capital : £E 180,000
·
Ihab
Mostafa
·
Members
of Mr Ihab Mostafa’s family
Activities: Engaged in the import, processing and distribution
of speciality chemicals as well as tools and industrial equipment.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 18 employees.
Subject is a newly formed
business and as a result financial information is not currently available.
·
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.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.