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Report Date : |
13.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL SHARK FOR CERAMIC & PORCELAIN |
|
|
|
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Registered Office : |
73 Takasim Omar Ebn Al Khattab Street, 138 Gesr El Suez Street, El
Zaiton Cairo |
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|
|
|
Country : |
Egypt |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
|
Year of Establishment : |
1997 |
|
|
|
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Com. Reg. No.: |
308159, Cairo |
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Legal Form : |
Limited Liability Partnership |
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|
|
|
Line of Business : |
Engaged in the import and distribution of ceramics, tiles and sanitary
ware products. |
|
|
|
|
No of Employees : |
30 |
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 |
|
|
|
|
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, 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 : AL SHARK FOR CERAMIC &
PORCELAIN
Doing Business As :
AL SHARK FOR SANITARY TRADE
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
1997
Commercial Registration Number :
308159, Cairo
Tax Card Number :
305-629-468
Issued Capital :
£E 200,000
Paid up Capital :
£E 200,000
Total Workforce :
30
Activities :
Distributors of ceramics, tiles and sanitary ware products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Marwa Kamal, Administration Executive
COMPANY NAME: AL SHARK FOR CERAMIC & PORCELAIN
DOING BUSINESS AS: AL SHARK FOR SANITARY TRADE
Street : 73 Takasim
Omar Ebn Al Khattab Street, 138 Gesr El Suez Street
Area : El Zaiton
Town : Cairo
Country : Egypt
Telephone : (20-2) 26975630
/ 26975631 / 26975633
Facsimile : (20-2)
26975635
Mobile : (20-100)
0038120 / 0038118
Email : centreelshark@gmail.com
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Cairo.
Name Position
·
Adel
Michael Habash Managing
Partner
·
Fadi
Adel Michael Habash Partner
·
Ibrahim
Abdullah Sales
Manager
·
Ibrahim
Khairy Purchasing
Manager
·
Marwa
Kamal Administration
Executive
Date of
Establishment : 1997
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 308159, Cairo
Tax Card No. :
305-629-468
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
·
Adel Michael Habash
·
Fadi Adel Michael Habash
Activities: Engaged in the import and distribution of
ceramics, tiles and sanitary ware products.
Import
Countries: Europe and GCC
countries.
Agencies Held:
·
Royal
Ceramic Egypt
·
Alfa
Ceramic Egypt
·
Pharaon Egypt
·
Enova Egypt
·
Gloria Egypt
·
Ideal Egypt
Operating Trend: Steady
Subject has a workforce
of 30 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 11,895,000 £E
12,320,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
National Bank of Egypt
24 Sherif Street
Cairo
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
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. 62.12 |
|
|
1 |
Rs. 102.25 |
|
Euro |
1 |
Rs. 84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.