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Report Date : |
22.03.2014 |
IDENTIFICATION DETAILS
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Name : |
EL DAWOOD FOR IMPORT & EXPORT CROPS |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Year of Establishments: |
2007 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
importer and distributor of dried foodstuffs,
seeds, spices and crops. |
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No. of Employees |
12 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Egypt |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Concern Name : EL DAWOOD FOR IMPORT & EXPORT CROPS
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2007
Invested Capital : £E 100,000
Total Workforce : 12
Activities : Distributors of dried foodstuffs, seeds, spices and crops
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shaban Sulaiman Ali El Dawood, Proprietor & General Manager
EL DAWOOD FOR
IMPORT & EXPORT CROPS
Registered &
Physical Address
Location : 43 Halkat El Cotn Street
Town : Tanta
Country : Egypt
Telephone : (20-40) 3336400 / 3336700
Facsimile : (20-40) 3336400
Mobile : (20-10) 98878870 / 98876667
Email : eldawood@hotmail.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Suburban Business Area of Tanta.
Name Position
·
Shaban
Sulaiman Ali El Dawood Proprietor
& General Manager
·
Sayed
Shaban Sulaiman Ali El Dawood Assistant
General Manager
·
Ali
Shahan Commercial
Manager
Date of Establishment : 2007
Legal Form :
Sole Proprietorship
Invested Capital
: £E 100,000
Mr Shaban Sulaiman
Ali El Dawood is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
dried foodstuffs, seeds, spices and crops.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 12 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 Revenue £E 10,200,000 £E 10,850,000
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)
42 El Geish Street
Tanta
Tel: (20-40) 3330514 / 3334664
Fax: (20-40) 3330525
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.61.05 |
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|
1 |
Rs.100.80 |
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Euro |
1 |
Rs.84.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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.