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Report Date : |
18.11.2014 |
IDENTIFICATION DETAILS
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Name : |
THE CENTRAL AGENCY SABRI & CO |
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|
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Registered Office : |
Building No. 13, Area 9, Misr Massaken Sheraton, Heliopolis, Cairo
11361 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1976 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged as commercial agents for spinning, weaving, dyeing and readymade
garments equipment caps, label and adhesive ribbon machines, fabric cutting
machines, rotary printing machines, readymade garments adhesive wadding and
industrial needles. |
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|
|
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No of Employees : |
6 |
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 |
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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 – 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 |
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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 : THE CENTRAL AGENCY SABRI & CO
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1976
Partners Capital : £E 20,000
Total Workforce : 6
Activities : Commercial agents for spinning, weaving, dyeing and readymade garments equipment caps, label and adhesive ribbon machines, fabric cutting machines, rotary printing machines, readymade garments adhesive wadding and industrial needles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Amin Othman Sabri, Managing Partner
THE CENTRAL AGENCY
SABRI & CO
Building :
Building No. 13
Area : Area 9, Misr
Massaken Sheraton, Heliopolis
Town : Cairo 11361
Country : Egypt
Telephone : (20-2) 22678775
/ 22677640
Facsimile : (20-2)
22677960 / 22677961
Mobile : (20-122) 2129285
Email : gcasabri@gmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Name Position
· Amin Othman Sabri Managing
Partner
· Inas Mahmoud Partner
· Amal Saad Administration
Executive
Date of
Establishment : 1976
Legal Form : General
Partnership
Partners Capital : £E 20,000
· Amin Othman Sabri
· Inas Mahmoud
Activities: Engaged as commercial agents for spinning, weaving, dyeing and
readymade garments equipment caps, label and adhesive ribbon machines, fabric
cutting machines, rotary printing machines, readymade garments adhesive wadding and industrial
needles.
Import Countries: Germany and the Netherlands
International Suppliers:
· Strok Netherlands
· Rudolf GmbH Germany
Operating Trend: Steady
Subject has a workforce of 6 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
10,685,000 £E
10,810,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Banque Du Caire
22 Adly Street
PO Box: 1495
Heliopolis
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
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.61.68 |
|
|
1 |
Rs.96.94 |
|
Euro |
1 |
Rs.77.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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.