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Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
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Name : |
ESRAA TRADE MOHAMED ABD EL SALAM HASSANEIN & CO |
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Registered Office : |
5 Hamed Abd El Azim Street El
Omraniya, El Gharbeya, 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 : |
1992 |
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Com. Reg. No.: |
97290, Giza |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the import and distribution of animal feed additives,
medical herbs and plants such as fennel, dried lemon and orange |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Egypt |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 growth. Poor living conditions
combined with limited job opportunities for the average Egyptian contribute 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, pushing up unemployment levels,
and economic growth remains slow amid political uncertainty, government
transitions, unrest, and cycles of violence. Cairo since 2011 has drawn down
foreign exchange reserves and depended on foreign assistance, particularly from
Gulf countries, to finance imports and energy products and prevent further
devaluation of the Egyptian pound, fearing higher inflation from a weaker
currency
|
Source
: CIA |
Company Name : ESRAA TRADE MOHAMED ABD EL SALAM HASSANEIN & CO
Also Known As : ESRAA TRADE COMPANY
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1992
Commercial Registration Number : 97290, Giza
Tax Card Number : 329-551-183
Partners Capital : £E 150,000
Total Workforce : 15
Activities : Distribution of animal feed additives and medical herbs and plants.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ESRAA TRADE MOHAMED ABD EL SALAM HASSANEIN & CO
ESRAA
TRADE COMPANY
Street : 5 Hamed Abd
El Azim Street
Area : El Omraniya,
El Gharbeya, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 35841681
/ 35855785 / 35828605
Facsimile : (20-2)
35841681 / 35828616
Mobile : (20-122)
2126498 / 7415756
Email : esraatrade@yahoo.com
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· 2nd
Industrial Zone, Plot 96 Warehouse
premises
6th of
October City
Name Position
· Mohamed Abd El
Salam Hassanein Managing
Partner
· Olfat Abd El Moaty Partner
· Abd El Rahman
Mohamed Abd El Salam Hassanein Partner
· Esraa Mohamed Abd
El Salam Hassanein Partner
· Mohamed Mohamed
Abd El Salam Hassanein Partner
· Islam Mohamed Abd
El Salam Hassanein Partner
· Samir Anwar Finance
Manager
· Mohamed Abd El
Moaty Marketing
Manager
· Ossman Bayomey
Mohamed Sales
Manager
Date of
Establishment : 1992
Legal Form : General
Partnership
Commercial Reg.
No. : 97290, Giza
Tax Card No. : 329-551-183
Partners Capital : £E 150,000
· Mohamed Abd El
Salam Hassanein 50%
· Olfat Abd El Moaty 10%
· Abd El Rahman
Mohamed Abd El Salam Hassanein 10%
· Esraa Mohamed Abd
El Salam Hassanein 10%
· Mohamed Mohamed
Abd El Salam Hassanein 10%
· Islam Mohamed Abd
El Salam Hassanein 10%
Activities: Engaged in the import and distribution of animal feed additives,
medical herbs and plants such as fennel,
dried lemon and orange.
Import Countries: Morocco, Mauritania,
Netherlands, Belgium, France and Germany.
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
19,600,000 £E
21,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Egyptian Gulf Bank
El Orman Plaza
Building
8-10 Ahmed Nessim
Street
PO Box: 56
Cairo
Tel: (20-2)
3606580 / 3606467
Fax: (20-2)
3420265 / 3606512
·
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.
Credit amount 100,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No Complaints
Currency US
Dollars
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.59.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
|
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.