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Report Date : |
02.01.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Doha Mall,
Entrance A, 1st Floor, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1999 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
manufacturer of
plastic processing machinery, including injection moulding machinery. |
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No. of Employees : |
32 |
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 |
|
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 : ARABIA FOR PLASTIC INDUSTRY
Country of Origin : Egypt
Legal Form : Limited Partnership
Registration Date : 1999
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 32
Activities : Manufacturers of plastic processing machinery
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARABIA FOR PLASTIC
INDUSTRY
Registered &
Physical Address
Location : Doha Mall, Entrance A, 1st
Floor, Apartment 18
Town : 10th of Ramadan
City
Country : Egypt
Telephone : (20-15) 356680
Facsimile : (20-15) 356680
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of 10th of Ramadan City.
Branch Office (s)
Location Description
·
Industrial
Zone, Second S, Block E25 Factory
premises
10th of Ramadan City
Name Position
·
Noura
Labib Managing
Partner
·
Hazem
Hassan Soliman General
Manager
Date of Establishment : 1999
Legal Form :
Limited Partnership
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Partner
(s)
·
Noura
Labib
·
Members
of Ms Noura Labib’s family
Activities: Engaged in the manufacture of plastic processing
machinery, including injection moulding machinery.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of 32 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Revenue £E 14,275,000 £E 15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Misr
International Bank (MIBANK)
Main Branch
10th of Ramadan City
Tel: (20-15) 378435
Fax: (20-15) 378327
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.61.93 |
|
|
1 |
Rs.102.39 |
|
Euro |
1 |
Rs.85.12 |
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.