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Report No. : |
316921 |
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Report Date : |
16.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN COMPANY FOR GENERAL SUPPLIES |
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Registered Office : |
32 Ibrahim Nada Street, Farag Yousef Dar El Salam, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
07.04.2013 |
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Com. Reg. No.: |
72271 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs, include
Basmati rice. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Slow but correct |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Egypt |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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
pursued business climate reforms to attract foreign investment and facilitate
growth. Poor living conditions and limited job opportunities for the average
Egyptian contribute to public discontent, a major factor leading to the January
2011 revolution that ousted Mubarak. The uncertain political, security, and
policy environment since 2011 caused economic growth to slow significantly,
hurting tourism, manufacturing, and other sectors and pushing up unemployment.
Weak growth and limited foreign exchange earnings have made public finances
unsustainable, leaving authorities dependent on expensive borrowing for deficit
finance and on Gulf allies to help cover the import bill.
|
Source
: CIA |
Company Name :
ARABIAN COMPANY FOR GENERAL SUPPLIES
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
7th April 2013
Commercial Registration Number :
72271
Invested Capital :
£E 10,000
Total Workforce : 6
Activities :
Distributors of general foodstuffs
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ARABIAN COMPANY FOR GENERAL SUPPLIES
Registered &
Physical Address
Street : 32 Ibrahim
Nada Street
Area : Farag Yousef
Dar El Salam
Town : Cairo
Country : Egypt
Mobile : (20-102)
5909194 / (20-106) 8809235
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Offices
Location Description
El Hadaba El Wosta Rented
warehouse premises
El Hay El Sabee, Mokattam
Cairo
Name Position
Mahmoud Mohamed Mohamed Fadel Proprietor
& General Manager
Ahmed Mohamed Mohamed Fadel Finance
Manager
Ahmed Abdel Fattah Sales
Manager
Date of Establishment : 7th
April 2013
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 72271
Invested Capital : £E 10,000
Mr Mahmoud Mohamed Mohamed Fadel is the sole proprietor of the business.
Activities: Engaged in the import and distribution of general foodstuffs, include
Basmati rice.
Import Countries: India and Thailand.
Local Suppliers:
Farag El Attar For Spices
Ragab El Attar Company
Brand Names: WADI and AL SHARQ
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year Ending 31/12/14:
Total Sales £E
8,200,000
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
106 Road 9, Mokattam
Cairo
QNB Al Ahli
Road No.9 Intersection off Road 10
Upper Hill, Mokattam
Cairo
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Arabian Company for
General Supplies” and not “El Arabia Supplies”.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.40 |
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|
1 |
Rs.92.15 |
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Euro |
1 |
Rs.66.48 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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.