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Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
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Name : |
MARKETING & TRADING INTERNATIONAL (MIC) |
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Registered Office : |
48 Al Thawra Street, Dokki, Giza, PO Box : 2425, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
142102, Giza |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of chemical
raw materials for spinning and fabric dyeing industries, plastic industry,
food processing, paper products and paints. |
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No. of Employees : |
38 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Egypt |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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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 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 : MARKETING & TRADING
INTERNATIONAL (MIC)
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
1994
Commercial Registration Number :
142102, Giza
Tax Card Number :
100-512-402
Issued Capital :
£E 205,000
Paid up Capital :
£E 205,000
Total Workforce :
38
Activities :
Distributors of chemical raw materials for many industries.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
MARKETING &
TRADING INTERNATIONAL (MIC)
Registered &
Physical Address
Street : 48 Al Thawra
Street
Area : Dokki, Giza
PO Box : 2425
Town : Cairo
Country : Egypt
Telephone : (20-2) 37621914
/ 37616256 / 37499592
Facsimile : (20-2)
37614680 / 33370015
Mobile : (20-12)
3985754
Email : gihanmzah@yahoo.com
Premises
Subject operates from a medium sized suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
1st Industrial Zone Warehouse
premises
Sadat City
Menoufeya
Name Position
Mohamed Zakaria Mohie El Din Managing
Partner
Ashraf Mohamed El Dah Partner
Mady Abdul Ghani Afifi Chief
Executive Officer
Gihan Mahmoud Marketing
Manager
Akram Gouda Finance
Manager
Mohamed Desouki Administration
Executive
Amr Salah Accounts
Manager
Jehan Mahmoud Import
Manager
Noha Moustafa Office
Manager
Date of Establishment : 1994
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 142102, Giza
Tax Card No. : 100-512-402
Issued Capital : £E 205,000
Paid up Capital : £E 205,000
Name of
Shareholder (s) Percentage
Mohamed Zakaria Mohie El Din 43.5%
National Chemical Industries 25.0%
48 Al Thawra Street
Dokki
Giza
Cairo
Tel: (20-2) 37616256
Fax: (20-2) 37615047
Ashraf Mohamed El Dah 13.5%
Magdy Moustafa Abd El Ghany 10.0%
Karam Hussein
3.0%
Abd El Meguid Mohie El Din 2.0%
Hossam Yagout 2.0%
Ashraf Mohamed Salem 1.0%
Activities: Engaged in the import and distribution
of chemical raw materials for spinning and fabric dyeing industries, plastic
industry, food processing, paper products and paints.
Import Countries: France,
Spain, Italy, South Korea, Taiwan, Canada, United States of America and India.
Export Countries: Pakistan, Morocco, Libya, Sudan and
Syria.
Agencies Held:
Profil-Tex
Esseco
Kemira
MZ-DH
Synthron
Giovanni Bozzetto
Celanese
Operating Trend: Steady
Subject has a workforce of 38 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
24,094,614 £E
25,807,117
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Arab Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 33029069 / 33029070
Fax: (20-2) 33029068
HSBC Bank Egypt
3 Aboul Feda Street
Zamalek
Cairo
Tel: (20-2) 27359186
Fax: (20-2) 27361457
No complaints regarding subject’s payments have been reported.
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.62.50 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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NB |
New Business |
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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.