MIRA INFORM REPORT

Report Date :

16.09.2014

IDENTIFICATION DETAILS

Name :	ALAMIR COMPANY MANUFACTURING & PREPARING AGRO PRODUCTS

Registered Office :	Damanhour Road Area: Abu El Matamir, Hosh Eissa, Town: Beheira

Country :	Egypt

Year of Establishment :	1978

Legal Form :	General Partnership

Line of Business :	Packaging and Distribution of agricultural crops, beans, sesame and pumpkin seeds, marrows, peanuts, peas, rice and fennel

No of Employees :	50

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

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

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

SUMMARY

Company Name : ALAMIR COMPANY MANUFACTURING & PREPARING AGRO

PRODUCTS

Country of Origin : Egypt

Legal Form : General Partnership

Registration Date : 1978

Partners Capital : £E 250,000

Total Workforce : 50

Activities : Packaging and distribution of agricultural crops, beans, sesame and

pumpkin seeds, marrows, peanuts, peas, rice and fennel.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Alaa Mohamed Mahmoud Afash, Marketing Manager

COMPANY NAME

ALAMIR COMPANY MANUFACTURING & PREPARING AGRO PRODUCTS

ADDRESS

Registered & Physical Address

Street : Damanhour Road

Area : Abu El Matamir, Hosh Eissa

Town : Beheira

Country : Egypt

Telephone : (20-45) 2702911 / 2702386 / 2700386

Facsimile : (20-45) 2705911

Mobile : (20-122) 3138631 / (20-12) 1577772 / (20-106) 0004255

Email : info@alamireg.com / farouk@alamireg.com

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Central Business Area of Beheira.

KEY PRINCIPALS

Name Position

Farouk Mahmoud Mohamed Afash Managing Partner

Amir Mahmoud Mohamed Afash Partner

Nahed Moustafa Abd El Aziz Financial Manager

Alaa Mohamed Mahmoud Afash Marketing Manager

Khaled Moustafa Abd Elazez Elfaham Production Manager

Abd El Aziz Moustafa Abd El Aziz Technical Manager

Mahmoud El Najar Accountant

LEGAL FORM & OWNERS

Date of Establishment : 1978

Legal Form : General Partnership

Partners Capital : £E 250,000

Name of Partner (s)

Farouk Mahmoud Mohamed Afash

Amir Mahmoud Mohamed Afash

OPERATIONS

Activities: Engaged in the import, packaging and distribution of agricultural crops, beans, sesame and pumpkin

seeds, marrows, peanuts, peas, rice and fennel.

Import Countries: United Kingdom and South America

Export Countries: Liberia, Tunisia, Saudi Arabia, Kuwait, Syria, Italy, Romania, Spain, France, United Arab Emirates, Sudan, Jordan, Morocco, Africa, South America and Asia.

Operating Trend: Steady

Subject has a workforce of 50 employees.

FINANCIAL DATA

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 12,725,000 £E 13,100,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

Arab Bank Plc

PO Box: 68

Cairo

Tel: (20-2) 33029069 / 33029070

Fax: (20-2) 33029068

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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.60.10
UK Pound	1	Rs.99.05
Euro	1	Rs.79.03

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	SHG

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%)

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