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Report Date : |
14.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ENE NAGY ABD EL SAID BESHAY |
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Registered Office : |
18 Borssa Street, Dokki, Giza, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1983 |
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Com. Reg. No.: |
250456, Cairo |
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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
Japanese auto spare parts, as well as tractor and heavy duty vehicles. |
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No. of Employees : |
15 |
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) |
|
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.
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Source
: CIA |
Company Name :
ENE NAGY ABD EL SAID BESHAY
Also Known As :
BESHAY CO
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
1983
Commercial Registration Number :
250456, Cairo
Issued Capital :
£E 75,000
Paid up Capital :
£E 75,000
Total Workforce :
15
Activities :
Distributors of Japanese auto spare
parts, as well as tractor and heavy duty
vehicles.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Sameh Ramsis, Sales Manager
ENE NAGY ABD EL
SAID BESHAY
ALSO KNOWN AS : BESHAY CO
Registered &
Physical Address
Street : 18 Borssa
Street
Area : Dokki, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 25765540
/ 25768644 / 25781012
Facsimile : (20-2)
25726146
Mobile : (20-12)
72718171
Email : beshay_ene_co@yahoo.com
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
12 Sulaiman El Halaby Street Rented
showroom premises
Cairo
Mob: (20-122) 3211334
Name Position
Nagy Abd El Said Beshay Managing
Partner
Dr Essam Binyamin Beshay Partner
Peter Nagy Abd El Said Beshay General
Manager
Sameh Ramsis Sales
Manager
Date of Establishment : 1983
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 250456, Cairo
Issued Capital : £E 75,000
Paid up Capital : £E 75,000
Name of
Shareholder (s)
Nagy Abd El Said Beshay
Dr Essam Binyamin Beshay
Activities: Engaged in the import and distribution of Japanese auto spare parts, as
well as tractor and heavy duty vehicles.
Import Countries: Japan,
China and India.
Brand Names: ENE
Operating Trend: Steady
Subject has a workforce of 15 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
10,600,000 £E
10,850,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Al Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 33379363
Fax: (20-2) 33772959
No complaints regarding subject’s payments have been reported.
Date of transaction October
2011
Credit amount US$
100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.27 |
|
|
1 |
Rs.103.47 |
|
Euro |
1 |
Rs.84.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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.