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Report No. : |
354928 |
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Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
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Name : |
BADAWY FOUNDATION FOR IMPORT AND EXPORT |
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Registered Office : |
4 Ohod Street (off Gammat El Dawal El Arabia Street), El Hosania,
Dakhaliya, Mansoura |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject engaged in the import and distribution of agricultural
machinery, pumps and diesel engines and
related spare parts. |
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No. of Employee : |
12 |
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) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source
: CIA |
Company Name :
BADAWY FOUNDATION FOR IMPORT AND EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1992
Commercial Registration Number : 113280, Mansoura
Invested Capital : £E 100,000
Total Workforce : 12
Activities :
Import and distribution of agricultural machinery, pumps
and diesel
engines and related spare parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ibrahim Abdo Badawy, Proprietor
BADAWY FOUNDATION FOR IMPORT AND
EXPORT
Street : 4 Ohod
Street (off Gammat El Dawal El Arabia Street)
Area : El Hosania,
Dakhaliya
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2218230
/ 2357674
Facsimile : (20-50)
2217433
Mobile : (20-109)
9982833 / (20-12) 8747450
Email : biebadawy@yahoo.com
/ info@badawyco.com
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Suburban Business Area of Mansoura.
Branch Offices
Location Description
· 7 Salama Hegazy
Street Showroom
premises
El
Hosaniia
Mansoura
· 6 Salama Hegazy
Street Showroom
premises
El Hosaniia
Mansoura
· Nikita Warehouse
premises
Egypt Road
Mansoura
Tel:
(20-50) 2120785 / 2120792
Name Position
· Ibrahim Abdo
Badawy Proprietor
& General Manager
· Hamam
Abdo Badawy Assistant
General Manager
· Omar
Abdo Badawy Commercial
Manager
Date of
Establishment : 1992
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 113280, Mansoura
Invested Capital : £E 100,000
Mr Ibrahim Abdo Badawy is the sole proprietor of the business.
· Badawy For Trading
& Engineering
7 Salam Hegazi Street
El Hosania
Mansoura
Tel: (20-50) 2218230
Fax: (20-50) 2217433
Activities: Engaged in the import and distribution of agricultural machinery, pumps and diesel engines and related spare parts.
Import Countries: India, China, Germany and the United Kingdom.
International Suppliers:
· Super
Jambo Badawy India
· DEC India
· Kirloskar Diesel Engines Pvt Ltd India
· Brabhat India
· Adico India
· JCM India
· KP India
· Vishal Industries India
· Topland India
· Lister Peter United
Kingdom
· Deutz Germany
· Jiang Dong China
Operating Trend: Steady
Subject has a workforce of 12 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
19,750,000 £E
20,335,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Ibrahim Abdo Badawy, Proprietor
·
BNP Paribas Bank
113 El Gomhoria
Street
Mansoura
Tel: (20-50)
2372903
Fax: (20-50) 2372906
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
EGP |
1 |
Rs.8.47 |
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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Report Prepared
by : |
TRU |
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.