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Report No. : |
278523.2 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
EL MADENA EL MENAWARA |
|
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Registered Office : |
Samanoud Gharbeya |
|
|
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Country : |
Egypt |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Engaged in the import and distribution of general foodstuffs and
pulses. |
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|
|
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No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 aggressively pursued economic reforms to
attract foreign investment and facilitate growth. Poor living conditions
combined with limited job opportunities for the average Egyptian contribute to
public discontent. After unrest erupted in January 2011, the Egyptian
Government backtracked on economic reforms, drastically increasing social
spending to address public dissatisfaction, but political uncertainty at the
same time caused economic growth to slow significantly, reducing the
government's revenues. Tourism, manufacturing, and construction were among the
hardest hit sectors of the Egyptian economy, pushing up unemployment levels,
and economic growth remains slow amid political uncertainty, government
transitions, unrest, and cycles of violence. Cairo since 2011 has drawn down
foreign exchange reserves and depended on foreign assistance, particularly from
Gulf countries, to finance imports and energy products and prevent further
devaluation of the Egyptian pound, fearing higher inflation from a weaker
currency.
|
Source
: CIA |
Company Name :
EL MADENA EL MENAWARA
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
2001
Invested Capital : £E 25,000
Total Workforce :
5
Activities :
Distributors of general foodstuffs and pulses.
Financial Condition :
Undetermined
Payments :
Unknown
Person Interviewed :
Mostafa Badr, Proprietor & General Manager
EL MADENA EL MENAWARA
Registered &
Physical Address
Location : Samanoud
Town : Gharbeya
Country : Egypt
Mobile : (20-12)
00052000
Email : badr.company@gmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Gharbeya.
Name Position
Mostafa Badr Proprietor
& General Manager
Date of Establishment : 2001
Legal Form : Sole
Proprietorship
Invested Capital : £E 25,000
Mr Mostafa Badr is the sole proprietor of the business.
Badr Company
Samanoud
Gharbeya
Activities: Engaged in the import and distribution of general foodstuffs and
pulses.
Import Countries: Europe and the Far East.
Subject has a workforce of 5 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.
Commercial International Bank
55 El Guish Street
Gharbeya
Tel: (20-40) 3310612
Unknown
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.62.27 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.