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Report Date : |
22.10.2014 |
IDENTIFICATION DETAILS
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Name : |
DAFRAWY TOBACCO FACTORY |
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Registered Office : |
17 El Bousta El Qadima Street, Mansheya, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
16.04.1991 |
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Com. Reg. No.: |
136997,
Alexandria |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the manufacture of tobacco products used in
Shisha pipes and Hubbly Bubbly’s. |
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No. of Employees : |
32 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Egypt |
B1 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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 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 : DAFRAWY TOBACCO FACTORY
Country of Origin : Egypt
Legal Form :
General Partnership
Start Date :
1912
Registration Date :
16th April 1991
Commercial
Registration Number : 136997,
Alexandria
Tax Card Number : 618-046-445
Partners Capital : £E
1,500,000
Total Workforce : 32
Activities :
Manufacture of tobacco products
Financial Condition : Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
Person Interviewed : Amr Abd
El Rahman El Dafrawy, Managing
Partner
DAFRAWY TOBACCO FACTORY
Street : 17 El Bousta El Qadima Street
Area : Mansheya
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4801512 / 4806475
Facsimile : (20-3) 4806475
Mobile :
(20-122) 0186662 / 0186664 / 0186665
Email : defamr@yahoo.com
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Office
(s)
Location Description
·
Ezbet El Sobeiha Owned
factory premises
Smouha
Alexandria
Tel:
(20-3) 4254471
Name Position
·
Amr Abd El Rahman El Dafrawy Managing
Partner
·
Abd El Fattah El Sebaie General
Manager
·
Mohamed
Shawqi Sales
Manager
·
Asma
Mohamed Administration
Officer
·
Wael
Mohamed Accountant
Date of Establishment : 1912, however
subject was registered on 16th April 1991
Legal Form :
General Partnership
Commercial Reg. No. : 136997,
Alexandria
Tax Card No. : 618-046-445
Partners Capital : £E 1,500,000
·
Amr Abd El Rahman El Dafrawy
·
Mr Amr Abd
El Rahman El Dafrawy’s wife and children
Activities: Engaged in the manufacture of
tobacco products used in Shisha pipes and Hubbly Bubbly’s.
Import
Countries: India and Sri
Lanka.
International Suppliers:
·
VST Industries Ltd India
Export
Countries: Kuwait and the
United Arab Emirates.
Brand Names: EL DAFRAWY and AL MUFTAH
Operating Trend: Steady
Subject has a
workforce of 32 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 11,920,000 £E 12,370,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
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.61.30 |
|
|
1 |
Rs.99.16 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.