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Report Date : |
22.10.2014 |
IDENTIFICATION DETAILS
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Name : |
EL MASRYA FOR TRADING DISTRIBUTION & COMMERCIAL AGENCIES |
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|
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Registered Office : |
4th
Zeznya Mall, Haram Street, Giza, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
01.12.2013 |
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Com. Reg. No.: |
21805, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import
and distribution of chemicals for foodstuffs. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 :
EL MASRYA FOR TRADING DISTRIBUTION & COMMERCIAL AGENCIES
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 1st
December 2013
Commercial
Registration Number : 21805,
Cairo
Issued Capital : £E
60,000
Paid up Capital : £E 60,000
Total Workforce : 5
Activities :
Distributors of chemicals for foodstuffs
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Emad George, Managing Partner
EL MASRYA FOR
TRADING DISTRIBUTION & COMMERCIAL AGENCIES
Building : 4th Zeznya
Mall
Street : Haram Street
Area : Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 37808715
Facsimile : (20-2) 37808715
Mobile : (20-122) 1620200
Email : elmasrya.trade@yahoo.com / emadhrc@yahoo.com
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Cairo.
Name Position
·
Emad
George Managing
Partner
·
Maged
Mahmoud Partner
Date of Establishment : 1st
December 2013
Legal Form :
Limited Liability
Partnership
Commercial
Reg. No. : 21805, Cairo
Issued Capital : £E 60,000
Paid up Capital : £E 60,000
·
Emad
George
·
Maged
Mahmoud
Activities: Engaged in the import and distribution of
chemicals for foodstuffs.
Import
Countries: China
International Suppliers:
·
Grol China
Subject has a
workforce of 5 employees.
Subject is a newly formed
business and as a result financial information is not currently available.
·
Banque
du Caire SAE
22 Adly Street
PO Box: 1495
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.30 |
|
|
1 |
Rs.99.16 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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|
Report Prepared
by : |
PDT |
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 |
|
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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 |
|
|
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 |
-- |
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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.