|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL ALAMIA FOR TRADING |
|
|
|
|
Registered Office : |
1 Khalid Ibn El Walid Street, Masaken Sheraton, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
1997 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of soft furnishing
materials and hotel supplies. |
|
|
|
|
No. of Employees : |
10 |
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 |
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Egypt |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
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 :
AL ALAMIA FOR TRADING
Also Known As :
WORLD TRADING CO
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
1997
Invested Capital :
£E 50,000
Total Workforce :
10
Activities :
Distribution of soft furnishing materials and hotel supplies.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Hesham Hassan Hashim, Proprietor & General Manager
AL ALAMIA FOR
TRADING
ALSO KNOWN AS: WORLD TRADING CO
Registered &
Physical Address
Street : 1 Khalid Ibn
El Walid Street
Area : Masaken
Sheraton
Town : Cairo
Country : Egypt
Telephone : (20-2) 22677834
/ 22675455
Facsimile : (20-2) 22675455
Mobile : (20-100)
1436212
Email : alalamiafortrading@gmail.com
Please note that subject’s previous address was, No. 9 Square, 1163
Sheraton Residence, Apt No. 7, El Nozha EL Gedida, Heliopolis, Cairo.
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Name Position
Mohamed Hesham Hassan Hashim Proprietor
& General Manager
Magdy Ahmed Sales
Manager
Date of Establishment : 1997
Legal Form : Sole
Proprietorship
Invested Capital : £E 50,000
Mr Mohamed Hesham Hassan Hashim is the sole proprietor of the business.
Activities: Engaged in the
import and distribution of soft furnishing materials and hotel supplies.
Import Countries: India
Operating Trend: Steady
Subject has a workforce of 10 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales £E
9,100,000 £E
9,370,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
Arab African International Bank
44 Abdel Khaleq Tharwat Street
Cairo
Tel: (20-2) 23917747
Fax: (20-2) 23916710
Swift: ARAIEGCX
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.