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Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ARAB TRADE AND INVESTMENT AND COTTON TRADING CO SAE (ATICOT) |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1986 |
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Com. Reg. No.: |
239186, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the import and distribution of raw cotton. |
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No of Employees : |
150 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Egypt |
B1 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 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 : ARAB TRADE AND INVESTMENT AND COTTON TRADING CO SAE
(ATICOT)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1986
Commercial Registration Number : 239186, Cairo
Tax Card Number : 200-001-299
Issued Capital : £E 40,000,000
Paid up Capital : £E 40,000,000
Total Workforce : 150
Activities : Distributors of raw cotton
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Ezz El Din El Dabbah, Managing Director
ARAB TRADE AND INVESTMENT AND COTTON TRADING CO SAE (ATICOT)
Street : 18 Yaccoub
Artin Street, Ismailia Square
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 24171034
Facsimile : (20-2)
22916570
Mobile : (20-106)
181768 / (20-100) 1630705 / 1630700 / 1630720 / 1630713
Email : info@aticot.org
/ ahmed.eldabbah@aticot.org
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· 20 Al Gomhoreya
Abdin Office
premises
Cairo
Tel: (20-2)
23957744 / 23907611
Fax: (20-2)
23958040
· 7A Sherif Street Office
premises
Mina El Basal
Alexandria
Tel: (20-3)
3621704
Fax: (20-3)
3629885
· 11 Abou El Riesh
Street Office
premises
Damanhour
Beheira
Tel: (20-45)
3322378
Fax: (20-45)
3302944
· Kafr Sakr Office
premises
Sharkeya
Tel: (20-55)
3181064
Fax: (20-55)
3187702
· 29 Port Said
Street Office
premises
Samalot
Minia
Tel: (20-86)
7719806
· 5 Entrance A, El
Gergaweya Buildings Office
premises
Assiut
Tel: (20-93)
2314119
· Fayoum Office
premises
Tel: (20-84)
6372195
Name Position
· Ezz El Din
Maghraby El Dabah Chairman
· Ahmed Ezz El Din
El Dabah Managing
Director
· Amal Saad Mohamed Director
· Soheir Mohamed
Mahmoud Lotfy Director
· Mohamed Mahmoud
Nofal Director
· Mahmoud Mohamed
Mahmoud Lotfy Director
· Mahmoud Fahmi Amin Director
· Nadia Kamel Area
Manager
· Abd El Mawla
Soliman Area
Manager
· Ahmed El Sebaie Area
Manager
· Mohamed Darwish Area
Manager
· Osman Mahgoub Ali Area Manager
· Aziz Awad Area
Manager
· Amal Saad Mohamed Finance
Manager
Date of
Establishment : 1986
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 239186, Cairo
Tax Card No. : 200-001-299
Issued Capital : £E 40,000,000
Paid up Capital : £E 40,000,000
· Ezz El Din
Maghraby El Dabah 59.8%
· Soheir Mohamed
Mahmoud Lotfy ]
]
· Ahmed Ezz El Din
El Dabah ]
]
· Zinab Ezz El Din
El Dabah ] 40.2%
]
· Nahla Ezz El Din
El Dabah ]
]
· Nourhan Ezz El Din
El Dabah ]
Activities: Engaged in the import and distribution of raw cotton.
Import Countries: Russia, Syria and Greece
International
Suppliers:
· Vamvaki Ltd Greece
· Nicot Trading Ltd Greece
Export Countries: United States of America, Turkey, India, Germany
and Swaziland
Operating Trend: Steady
Subject has a workforce of 150 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
103,337,324 £E
109,500,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Ahmed Ezz El Din El Dabah,
Managing Director
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel: (20-2)
33912711 / 33912106
Fax: (20-2)
33919779
·
National Bank of Egypt
24 Sherif Street
Cairo
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
·
Bank of Alexandria
49 Kasr El Nile
Street
Cairo
Tel:
(20-2) 4824056 / 4836073
Fax: (20-2) 4837468
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the company is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.