MIRA INFORM REPORT

 

 

Report No. :

302141

Report Date :

06.01.2015

 

IDENTIFICATION DETAILS

 

Name :

AL AMIN IMPORT AND EXPORT ESTABLISHMENT

 

 

Registered Office :

93 Ahmed Orabi Street, Mohandessin, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2012

 

 

Year of Establishment :

1981

 

 

Com. Reg. No.:

97593, Alexandria

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of PVC materials

 

 

No. of Employees :

15

 

 

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, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Egypt

B1

B1

 

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 GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed 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, and economic growth is likely to remain slow during the next several years. The government drew down foreign exchange reserves by more than 50% in 2011 and 2012 to support the Egyptian pound and the dearth of foreign financial assistance - as a result of unsuccessful negotiations with the International Monetary Fund over a multi-billion dollar loan agreement which have dragged on more than 20 months - could precipitate fiscal and balance of payments crises in 2013.

 

Source : CIA

 

SUMMARY

 

Company Name                                    : AL AMIN IMPORT AND EXPORT ESTABLISHMENT

Country of Origin                                   : Egypt

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 1981

Commercial Registration Number           : 97593, Alexandria

Invested Capital                                    : £E 250,000

Total Workforce                                     : 15

Activities                                               : Distributors of PVC materials

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

 

 

COMPANY NAME

 

AL AMIN IMPORT AND EXPORT ESTABLISHMENT

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 93 Ahmed Orabi Street

Area                 : Mohandessin

Town                : Cairo

Country             : Egypt

 

Telephone         : (20-2) 33474952

Facsimile          : (20-2) 33032816

Email                : aminmy@dataxprs.com.eg

 

Premises

 

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

 

Branch Office (s)

 

Location                                                                                               Description

 

El Noaman Street                                                                                  Warehouse premises

King Marriout, Sidi Bishr

Alexandria

 

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Amin Kamel El Showeikh                                                           Proprietor & General Manager

 

Mahmoud Hosny El       Showeikh                                              Sales Manager

 

Gamal Osman                                                                           Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1981

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 97593, Alexandria

 

Invested Capital           : £E 250,000

 

Mr Amin Kamel El Showeikh is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities:                     Engaged in the import and distribution of PVC materials.

 

Import Countries:         Italy, Libya, United States of America and Saudi Arabia.

 

Operating Trend:          Steady

 

Subject has a workforce of 15 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/11:              Year Ending 31/12/12:

 

Total Sales                                £E 9,200,000                             £E 9,580,000

 

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

 

According to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The company’s operating history is reportedly clear and the above credit figure is considered to be within subject’s financial means.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.39

UK Pound

1

Rs.96.85

Euro

1

Rs.75.67

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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