MIRA INFORM REPORT

Report No. :	354613
Report Date :	19.12.2015

IDENTIFICATION DETAILS

Name :	ELECTROPOWER FOR TRADING & IMPORTING

Registered Office :	20 Morsy Badr Street, Alexandria

Country :	Egypt

Financials (as on) :	31.12.2014

Date of Incorporation :	1984

Legal Form :	General Partnership

Line of Business :	Subject engaged in the import and distribution of pumps, industrial machinery and related accessories.

No. of Employee :	18

RATING & COMMENTS

MIRA’s Rating :

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : ELECTROPOWER FOR TRADING & IMPORTING

Country of Origin : Egypt

Legal Form : General Partnership

Registration Date : 1984

Partners Capital : £E 100,000

Total Workforce : 18

Activities : Distributors of pumps, industrial machinery and related accessories

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

ELECTROPOWER FOR TRADING & IMPORTING

ADDRESS

Registered & Physical Address

Location : 20 Morsy Badr Street

Town : Alexandria

Country : Egypt

Telephone : (20-3) 3929623 / 3922740

Facsimile : (20-3) 3929622

Mobile : (20-122) 0228700

Email : electropower@hotmail.com

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Alexandria.

Branch Office (s)

Subject operates 3 showrooms and service centres.

KEY PRINCIPALS

Name Position

· Magdy Helmy Qadees Managing Partner

· Adel Helmy Qadees Partner

· Mena Habib Financial Controller

· Michael Samy Sales Executive

LEGAL FORM & OWNERS

Date of Establishment : 1984

Legal Form : General Partnership

Partners Capital : £E 100,000

Name of Partner (s)

· Magdy Helmy Qadees

· Adel Helmy Qadees

OPERATIONS

Activities: Engaged in the import and distribution of pumps, industrial machinery and related accessories.

Import Countries: India

International Suppliers:

· Roto Fluid India

· Inventa India

Brand Names: DEBEM, PETRO LAND, MAS, DAF, VARISCO, PEC and ROTO

Operating Trend: Steady

Subject has a workforce of 18 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: Egyptian Pounds (£E)

Year Ending 31/12/13: Year Ending 31/12/14:

Total Sales £E 10,125,000 £E 10,350,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· Bank of Alexandria

6 Salah Salem Street

Alexandria

Tel: (20-3) 4824056

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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
UK Pound	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

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.