|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
VALUESYS INFORMATION TECHNOLOGY |
|
|
|
|
Registered Office : |
9 Moustafa Refaat
Street, Massaken Sheraton, Heliopolis, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Year of Establishments: |
2001 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in the provision
of business management products and services, including computer software,
solutions and technical support. |
|
|
|
|
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 |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 : VALUESYS INFORMATION TECHNOLOGY
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2001
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 30
Activities : Providers of business management products and services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
VALUESYS
INFORMATION TECHNOLOGY
Registered &
Physical Address
Street : 9 Moustafa Refaat Street
Area : Massaken Sheraton, Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22682552 / 22682887
Facsimile : (20-2) 22674346
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
Name Position
·
Ahmed
Mohamed Khairy Chariman
·
Wael
Mohamed Hosny Managing
Director
·
Tarek
Farouk Finance
Manager
·
Manal
Fadel Presales
Consultant
·
Malak
Okasha Office
Manager
·
Raed
Abd El Rahman Sales
Manager
Date of Establishment : 2000
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder
(s)
·
Ahmed
Mohamed Khairy
·
Wael
Mohamed Hosny
Activities: Engaged in the provision of business
management products and services, including computer software, solutions and
technical support.
Import
Countries: Europe and the
Far East
Brand Names: MICROSOFT, SUN SYSYTEMS, NOVELL, CITRIX,
KASPERSKY, CYBEROAM, JUNIPER and
SOURCE FIRE
Subject has a
workforce of 30 employees.
Companies registered
in Egypt are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
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.
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.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.