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Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
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Name : |
YOUSSEF ALLAM & COMPANY |
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|
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Registered Office : |
Obour
Buildings, No. 6, 14 Salah Salem Road, Nasr City, P O Box 1605, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Year of Establishments: |
1948 |
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Com. Reg. No.: |
79844, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
importer and distributor
of printing machines, photocopiers, photo films, chemicals for printing,
paper converting machines, plastic manufacturing machines, scissors and
resins. |
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|
|
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No. of Employees |
250 |
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 |
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 : YOUSSEF ALLAM & COMPANY
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1948
Commercial Registration Number : 79844, Cairo
Tax Card Number : 100-330-371
Issued Capital : £E 200,000,000
Paid up Capital : £E 200,000,000
Total Workforce : 250
Activities : Distributors of office machinery and stationery
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
YOUSSEF ALLAM & COMPANY
Registered &
Physical Address
Building : Obour
Buildings, No. 6
Street : 14
Salah Salem Road
Area : Nasr
City
PO Box : 1605
Town : Cairo
Country : Egypt
Telephone : (20-2) 22639497
/ 22639498 / 2612091 / 2611581 / 2618305 / 4014639 / 2612820
Facsimile : (20-2) 22639499
/ 2612092 / 2633170
Email : info@yallam.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Offices
Location Description
·
22 Moustafa Kamel Street Rented
showroom premises
Smouha
Alexandria
Tel: (20-3)
4276714 / 4277327 / 3420614
Fax: (20-3)
4277327
·
75 Abu Dawoud El Zahry Street Rented
showroom premises
Nasr
City
Cairo
Tel: (20-2)
2746102 / 2746036
Fax: (20-2)
2705822
·
El Tarabaish Factory Street Rented
showroom premises
Abbasseya
Cairo
Tel: (20-2)
5926992 / 5908368
·
6 Desouk El Eina Street Rented
showroom premises
Down Town
Cairo
Tel: (20-2) 22593325
/ 222705822
·
56 Abd
El Khalek Tharwat Street Rented showroom premises
Down Town
Cairo
Tel: (20-2) 23915222
/ 23914599
Fax: (20-2) 23930223
·
El Nadi
Street Rented showroom premises
7th District
Nasr City
Tel: (20-2) 25926992
/ 25908368 / 25933250
·
10th
of Ramadan City A2 Rented showroom premises
Industrial Zone
Cairo / Ismailia Road
Tel: (20-15) 413126
Fax: (20-15) 412048
Name Position
·
Adel Youseef Abd El Hady Ibrahim Allam Managing
Partner
·
Magdy Dessouky General
Manager
·
Montasser El Ashry Finance
Manager
·
Mahmoud Ali IT
Manager
·
Youssef
Shahin Sales
Manager
·
Youssef
Akram Allam Marketing
Manager
·
Tarek
Sokkar Accounts
Manager
·
Tony
Dawoud Purchase
Manager
Date of Establishment : 1948
Legal Form :
Limited Liability
Partnership
Commercial
Reg. No. : 79844, Cairo
Tax
Card No. : 100-330-371
Issued Capital : £E 200,000,000
Paid up Capital : £E 200,000,000
Name of Partner (s) Percentage
·
Youssef Abd El Hady Allam Heirs 78%
·
Adel Youseef Abd El Hady Ibrahim Allam 22%
·
Papyrus Company For Paper
Converting
14
Obour Buildings
Salah Salem Road
Nasr City
Cairo
Tel: (20-2) 2612091
/ 2612820 / 2611581 / 2618305
Fax: (20-2) 2612092
/ 2633170 / 2612092 / 2611381
·
Allam
Industry
14 Obour Buildings
Salah Salem Road
Nasr City
Cairo
Tel: (20-2) 2612820
/ 2611581
Fax: (20-2) 2612092
Activities: Engaged in the
import and distribution of printing machines, photocopiers, photo films,
chemicals for
printing, paper converting machines, plastic manufacturing machines,
scissors and resins.
Import
Countries:
Germany, Sweden, Belgium, Malaysia, Indonesia, Japan, Spain, Libya,
Saudi Arabia, South Korea and the United States of America
Agencies Held:
·
Risograph
·
Heidelberg
·
Hocest
·
Popost
·
Agfa
Gevaert NV
·
Polar
·
Stahl
·
Sabic
·
Nessei
·
Well
Export
Countries: Sudan and Libya
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 146,000,000 £E 166,000,000
Local sources
consider subject’s financial condition to be Good.
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
·
Banque
du Caire SAE
22 Adly Street
PO Box: 1495
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
·
Misr
International Bank (MIBANK)
14, Alfy Street
PO Box: 631
Cairo
Tel: (20-2) 25931002
Fax: (20-2) 25912306
·
Egyptian
American Bank
4 & 6 Hassan Sabri
Zamalek
PO Box: 1825
Cairo
Tel: (20-2) 33416150
Fax: (20-2) 33420265
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 /
25072691
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed 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.