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Report No. : |
317280 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MJM MARKETING LLC |
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Formerly Known As : |
EGYPTIAN
MARKETING CONSULTANT (EMARCO) |
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Registered Office : |
Flat No. 2, 9 Ghenia Street, Heliopolis, Cairo 11341 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.02.1988 |
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Com. Reg. No.: |
287537, Cairo |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and
Distribution of Chemical Raw Materials for the Paint, Footwear and Adhesives
Industries. |
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No. of Employees : |
5 |
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 : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 : MJM
MARKETING LLC
Previously Known As : EGYPTIAN
MARKETING CONSULTANT (EMARCO)
Country of Origin : Egypt
Legal Form :
Limited Liability Company
Registration Date : 1st
February 1988
Commercial
Registration Number : 287537,
Cairo
Import Licence
Number : 66688
Issued Capital : £E
50,000
Paid up Capital : £E 50,000
Total Workforce :
5
Activities :
Distributors of chemical raw materials.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mardius Nobar
Balayan, Managing Director
MJM MARKETING LLC
EGYPTIAN MARKETING
CONSULTANT (EMARCO)
Building : Flat No. 2
Street : 9 Ghenia Street
Area : Heliopolis
Town : Cairo 11341
Country : Egypt
Telephone : (20-2) 24530327 / 24534797 / 24534793
Facsimile : (20-2) 24522282
Mobile : (20-111) 1505037
Email : mardigbalayan@hotmail.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
Name Position
·
Mardius
Nobar Balayan Managing
Director
·
Garyar
Mardius Nobar Balayan Director
·
Maral
Mardius Nobar Balayan Director
·
Ms Iman Secretary
Date of Establishment : 1st
February 1988
History : Subject began in 1988 as a Sole Proprietorship
called “Egyptian Marketing Consultant
(EMARCO)”. However in 2013 it re-registered as a Limited Liability
Company under the new
name of “MJM Marketing LLC”.
Legal Form :
Limited Liability Company
Commercial Reg. No. : 287537,
Cairo
Import Licence No. : 66688
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of Shareholder (s)
·
Mardius
Nobar Balayan
·
Garyar
Mardius Nobar Balayan
·
Maral
Mardius Nobar Balayan
Activities: Engaged in the import and distribution of
chemical raw materials for the paint, footwear and adhesives
industries.
Import
Countries: Europe and
India.
International
Suppliers:
·
J J Organic India
·
Jesons Industries India
·
Vipul Chemicals Dye Ltd India
·
Apcotex India
·
Vishnu Chemicals India
·
York Chem Ltd United
Kingdom
·
Lamirsa Spain
Operating Trend: Steady
Subject has a
workforce of 5 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales £E 14,650,000 £E 16,900,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mardius Nobar Balayan, Managing Director
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
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.
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.62.40 |
|
|
1 |
Rs.92.15 |
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Euro |
1 |
Rs.66.48 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.