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Report No. : |
354923 |
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Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED SADEK
ESTABLISHMENT FOR IMPORT & EXPORT |
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Registered Office : |
4 Salama Hegazy Street El Hussinia Mansoura |
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Country : |
Egypt |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
77013, Mansoura |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Subject is engaged in the
import and distribution of agricultural equipment
and related accessories. |
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No. of Employee : |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. Egypt's current Constitution passed in a referendum that took place in January 2014.
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Source
: CIA |
Company Name : MOHAMED
SADEK ESTABLISHMENT FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole
Proprietorship
Registration Date : 1988
Commercial
Registration Number : 77013,
Mansoura
Invested Capital : £E 50,000
Total Workforce : 6
Activities :
Distributors of agricultural equipment and related
accessories.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Sadek El Sayed, Proprietor & General
Manager
MOHAMED SADEK
ESTABLISHMENT FOR IMPORT & EXPORT
Street : 4 Salama Hegazy Street
Area : El Hussinia
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2232239
Facsimile : (20-50) 2331911
Mobile : (20-100) 5258255 / 1917167
Email : el_sadekgroup@yahoo.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Mansoura.
Name Position
·
Mohamed Sadek El Sayed Proprietor
& General Manager
·
Ahmed Mohamed Sadek El Sayed Assistant
General Manager
Date of Establishment : 1988
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 77013,
Mansoura
Invested Capital
: £E 50,000
Mr Mohamed Sadek El Sayed is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of agricultural equipment and related accessories.
Import
Countries: India, Spain and
Italy
International
Suppliers:
·
Topland India
·
Opex India
·
Avan India
·
Bharat Industrial India
·
Samson Agriculture Equipment India
Operating Trend: Steady
Subject has a
workforce of 6 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 12,860,000 £E 13,240,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
55 El Kholafaa El Rashedeem Street
Mansoura
Tel: (20-50) 2233792
No complaints
regarding subject’s payments have been reported.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the
business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
UAE Dh |
1 |
Rs.18.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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|
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Report Prepared
by : |
ANK |
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 |
-- |
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.