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Report No. : |
335254 |
|
Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
NILE VALLEY GAS
COMPANY |
|
|
|
|
Registered Office : |
23 Road 268 Street, 12,13 H/1 El Nasr Street New Maadi, El Basateen Cairo 11516 |
|
|
|
|
Country : |
Egypt |
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|
|
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Date of Incorporation : |
22.09.1988 |
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|
|
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Com. Reg. No.: |
34689, Cairo |
|
|
|
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Legal Form : |
Egyptian Joint
Stock Company |
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|
|
|
Line of Business : |
Subject is engaged in the
installation and maintenance of service gas lines. |
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|
|
|
No. of Employee : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
No complaints |
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|
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
B2 |
|
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 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. Egypt's current Constitution passed in a referendum that took place in January 2014.
|
Source
: CIA |
Company Name : NILE VALLEY GAS COMPANY
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 22nd
September 1998
Commercial
Registration Number : 34689, Cairo
Authorised Capital : £E
400,000,000
Issued Capital : £E
22,313,000
Paid up Capital : £E
22,313,000
Total Workforce :
100
Activities :
Installation and maintenance of service gas lines
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
NILE VALLEY GAS
COMPANY
Street : 23 Road 268 Street, 12,13 H/1
El Nasr Street
Area : New Maadi, El Basateen
Town : Cairo 11516
Country : Egypt
Telephone : (20-2) 25174583 / 25174584 / 25174582
Facsimile : (20-2) 25174593 / 25174597
Email : info@egyptoil-gas.com
/ info@taqa.com.eg
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Central Business Area of Cairo.
Branch Offices
Location Description
·
Faisal
Street Office
premises
Assiut
·
El
Menia Office
premises
·
Abbas
Safy El Din Street Office
premises
Beni Suef Center
Beni Suef
Name Position
·
Tamer
Abdel Hamid Abo Bakr Chairman
·
Khaled Abdel Hamid Abo Bakr Vice
Chairman
·
Hisham
Ahmed Mohamed Ragb Director
·
Tarek
Gaber Gaber Director
·
Reda
Mohamed Abdel Rahman Hassan Director
·
Huda
Hassan Salem Director
·
Hala
Abdel Hamid Abo Bakr Director
·
Tarek
Mohamed Anwar El Howary Director
·
Amr
Ahmed Esmat Abo Bakr Director
·
Ahmed
Ramah Abdel Aziz Dakroury Director
·
Ayoub
Darwish Ayoub Darwish Atwa Director
·
Hisham
Hussein El Khazendar Director
·
Bakinam
Mohamed El Hamy Kafafy Director
·
Marawan
Nabil Abdullah El Araby Director
·
Mahmoud
Taher Hassan Director
·
Ali
Ahmed Ali Director
·
Walid
Fawzy Mohamed Director
·
Walid
Saad Abo El Naga Director
·
Mostafa
Salah El Din Sabry Director
·
Ahmed
Mohamed Hassanin Hikal Director
·
Nassef
Sawiris Director
·
Gratsia
Nowawlifity Director
·
Ros
Tomas Micky Director
·
Omran
Malek Director
·
Renato
Botos Director
·
Ibrahim
El Essawy Director
·
Ser
Geoha Dlo Director
·
Setwartt
Nice Director
·
Robo
Nordigaty Director
·
Tellian
Igor Director
·
Paul
Witker Director
·
Peter
Dar Director
·
Tarek
Mohamed Anwar El Howary General
Manager
·
Yassen
Hosni Finance
Manager
·
Jehan Tawfik Import
Manager
Date of Establishment : 22nd
September 1998
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 34689, Cairo
Authorised Capital : £E
400,000,000
Issued Capital : £E 22,313,000
Paid up Capital :
£E 22,313,000
·
Taqa
Arabia SAE 100%
Cairo
Activities: Engaged in the installation and maintenance
of service gas lines.
Subject has a
workforce of 100 employees.
Companies registered
in Egypt are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
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.63.76 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.