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Report Date : |
01.10.2014 |
IDENTIFICATION DETAILS
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Name : |
BELL AGRICULTURE TRADE |
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Registered Office : |
23 Abd El Aziz Agameya Street, Roshdy, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1978 |
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Legal Form : |
General Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of seeds, agricultural
products and machinery and vegetables, including beans and corn. |
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No of Employees : |
7 |
RATING & COMMENTS
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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 :
BELL AGRICULTURE TRADE
Also Known As :
GARAS AGRICULTURE TRADE
Country of Origin :
Egypt
Legal Form :
General Partnership
Registration Date :
1978
Partners Capital :
£E 100,000
Total Workforce :
7
Activities :
Distributors of seeds, agricultural products and machinery and vegetables.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
BELL AGRICULTURE TRADE
ALSO KNOWN AS: GARAS AGRICULTURE
TRADE
Registered &
Physical Address
Street : 23 Abd El
Aziz Agameya Street
Area : Roshdy
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5447303
Facsimile : (20-3) 5447304
Mobile : (20-122) 3111417
Email : bell_agri@link.net
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Alexandria.
Name Position
Garas Jad Garas Managing
Partner
Ashraf Fawzi Jad El Sayed Partner
Elham Nabil Thabet Partner
Emile Sami Finance
Manager
Yasser Badry Sales
Manager
Issa Abdo Administration
Executive
Date of Establishment : 1978
Legal Form :
General
Partnership
Partners Capital : £E 100,000
Name of Partner
(s)
Garas Jad Garas
Ashraf Fawzi Jad El Sayed
Elham Nabil Thabet
Activities: Engaged in the import and distribution of seeds, agricultural products
and machinery and vegetables, including beans and corn.
Import Countries: Canada, Australia and Chile
Export Countries: Canada
Operating Trend: Steady
Subject has a workforce of 7 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
7,900,000 £E
8,230,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Citibank
95, 26th July Street
Azarita
Alexandria
Tel: (20-3) 4834363 / 4840342
Fax: (20-3) 4884363
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.100.27 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
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.