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Report Date : |
14.11.2014 |
|
|
|
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Tel. No.: |
+2045263413 |
|
Fax No.: |
+204526334137 |
IDENTIFICATION DETAILS
|
Name : |
ALLGAEU VET |
|
|
|
|
Registered Office : |
Plot No. 220, Second Industrial City, Cairo Alexandria Desert Road, El Nubaria |
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|
|
|
Country : |
Egypt |
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|
|
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Financials (as on) : |
31.12.2014 (Projected) |
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|
|
|
Date of Incorporation : |
2012 (Production began 2nd
quarter of 2013) |
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|
|
Legal Form : |
Sole Proprietorship |
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|
|
|
Line of Business : |
Manufacture and
Distribution of Animal Feeds and Related Products. |
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|
|
|
No. of Employees : |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Egypt |
B1 |
B2 |
|
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 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 : ALLGAEU
VET
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 2012
Invested Capital :
£E 20,000,000
Total Workforce : 80
Activities :
Manufacture and distribution of animal feeds and related products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Person Interviewed : Dr Aly Ghandour, General Manager
ALLGAEU VET
Location : Plot No. 220, Second Industrial
City
Street : Cairo Alexandria Desert Road
Town : El Nubaria
Country : Egypt
Telephone : (20-45) 2634137
Facsimile : (20-45) 2634138
Mobile : (20-114) 5895555 / (20-122) 6064640
Email : aly@allgaeuvet.com / info@allgaeuvet.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of El Nubaria.
Branch Offices
Location Description
·
Panorama
Aemar Tower Office
premises
Smouha
Alexandria
Name Position
·
Dr Emad
El Hamdani Proprietor
·
Dr Aly Ghandour General Manager
·
Majid
Abdullah Finance
Manager
Date of Establishment : 2012
(Production began 2nd quarter of 2013)
Legal Form :
Sole Proprietorship
Invested Capital
: £E 20,000,000
Dr Emad El Hamdani
is the sole proprietor of the business.
·
Al
Fajer Feed Mill
El Nubaria
Tel: (20-114) 5895555 / (20-122) 6064640
Activities: Engaged in the manufacture and distribution
of animal feeds and related products.
Import
Countries: Belgium and
Germany
International Suppliers:
·
Bitafur Belgium
·
Novus Belgium
·
Evonic Germany
Subject has a
workforce of 80 employees.
Financial
highlights provided by local sources are given below:
Currency: Euros
(EUR)
Year
Ending 31/12/14:
Projected Total
Sales EUR 7,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figure
was provided by Dr Aly Ghandour, General
Manager
·
Credit
Agricole Egypt
6 Hassan Sabri Street
Zamalek
Cairo
Tel: (20-2) 7391556
·
Qatar National
Bank
Champollion Street
Cairo
Tel: (20-2) 27707628
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.61.56 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.76.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.