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Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
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Name : |
EL FARAANA FOR
PAPER INDUSTRIES |
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|
|
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Registered Office : |
El Obour
Industrial Zone, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
5530, |
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Legal Form : |
General
Partnership |
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Line of Business : |
Engaged in the
import, conversion and distribution of writing and duplex papers |
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No. of Employees : |
25 |
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 |
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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 – December 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Egypt |
A2 |
A2 |
|
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 FARAANA FOR PAPER INDUSTRIES
Country of Origin : Egypt
Legal Form :
General Partnership
Start Date :
1996
Registration Date : 16th
April 2007
Commercial
Registration Number : 5530,
Cairo
Issued Capital : £E
200,000
Paid up Capital : £E
200,000
Total Workforce : 25
Activities :
Converters and distributors of writing and duplex papers
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Rafaat Rafiq
Tanios, Partner
EL FARAANA FOR
PAPER INDUSTRIES
Location : El Obour Industrial Zone
Town : Cairo
Country : Egypt
Telephone : (20-2) 46651177
Facsimile : (20-2) 46651188
Mobile : (20-100) 3002585
Email : tanios@elfaraanapaper.com
Subject operates
from a small suite of offices and a factory that are rented and located in the
Industrial Area of Cairo.
Branch Offices
Location Description
·
30
Nehro Street Office
premises
Roxy, Heliopolis
Cairo
Tel: (20-2) 24555383 / 24555382 / 29248984
Fax: (20-2) 29248984 / 29248983
Name Position
·
Rafiq Tanios Managing
Partner
·
Rafaat
Rafiq Tanios Partner
·
Dr Emad
Tanios Partner
Date of Establishment : 1996 however
subject was registered on 16th April 2007
Legal Form :
General Partnership
Commercial
Reg. No. : 5530, Cairo
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
·
Rafiq Tanios
·
Rafaat
Rafiq Tanios
·
Dr Emad
Tanios
Activities: Engaged in the import, conversion and
distribution of writing and duplex papers.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a
workforce of 25 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 9,380,000 £E 10,025,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Banking Corporation
PO Box: 781
Cairo
Tel: (20-2) 25745488 / 25780417
Fax: (20-2) 25780416
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject meets its payment obligations in a timely manner and the
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.85.28 |
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.