|
Report No. : |
335788 |
|
Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRANS GULF COMPANY SAE |
|
|
|
|
Registered Office : |
12 H/A El Nasr Street New Maadi Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is engaged in the production and supply
of natural gas for households across Egypt. |
|
|
|
|
No. of Employees : |
80 |
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 |
|
|
|
|
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 – 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 : TRANS GULF COMPANY SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2000
Trade Licence Number : 44762
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 80
Activities : Production and supply of natural gas for households across Egypt.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Karim Noaman, Accountant
TRANS GULF COMPANY SAE
Street :
12 H/A El Nasr Street
Area :
New Maadi
Town :
Cairo
Country : Egypt
Telephone :
(20-2) 25174582 / 25170012 / 25170013
Facsimile :
(20-2) 24174045 / 25174593
Email : info@taqa.com.eg
Please note that subject’s previous
address was, 2 Simon Boliver Square, Garden City, Cairo.
Subject operates from a medium sized suite of offices that
are rented and located in the Central Business Area of Cairo.
Name Position
· Farouk
Ebeid Chairman
· Mohamed
Fouad General
Manager
· Ayman
El Ganainy Finance
Manager
· Karim
Noaman Accountant
Date
of Establishment : 2000
Legal
Form : Egyptian
Joint Stock Company
Trade Licence No. : 44762
Issued Capital : £E
10,000,000
Paid up Capital :
£E 10,000,000
· Taqa
Arabia SAE
Cairo
CR No.
21361
· Farouk
Ebeid
Activities: Engaged in the production and supply
of natural gas for households across Egypt.
Import Countries: Europe and the Far East.
Subject has a workforce of 80 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
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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.65.22 |
|
UK Pound |
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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.