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Report No. : |
303494 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
RAJAB EL ATTAR AND SONS COMPANY |
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Registered Office : |
60 Nakhla El Motaee Street, Triumph Square, Heliopolis 97 Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1954 |
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Com. Reg. No.: |
215915 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the wholesale and retail of dried food products, including spices, nuts and dried fruits. |
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No. of Employee : |
50 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 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.
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Source
: CIA |
Company Name : RAJAB EL ATTAR AND SONS COMPANY
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1954
Commercial Registration Number : 215915, Cairo
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 50
Activities : Wholesalers and retailers of dried food products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sameh Faraj, Sales Officer
RAJAB EL ATTAR AND
SONS COMPANY
Location : 60 Nakhla El Motaee Street, Triumph
Square
Area : Heliopolis
PO Box : 97
Town : Cairo
Country : Egypt
Telephone : (20-2) 22758088
Facsimile : (20-2) 27758088
Mobile : (20-114) 2800072
Email : rajab_alattar@link.net
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Cairo.
Branch Office
(s)
Location Description
·
40 El
Azhar Street Rented
showroom premises
Cairo
Tel: (20-2) 25890444 /
25934092
Fax: (20-2) 25890444 /
25918907
·
10
Triumph Square Rented
office premises
Heliopolis
Cairo
Tel: (20-2) 27758066
Fax: (20-2) 27758066
Name Position
·
El Mahjoub Abdul Fattah Saleh Rajab El Attar Managing Partner
·
Khalid El Mahjoub Abdul Fattah Saleh Rajab El Attar Partner
·
Mohamed El Mahjoub Abdul Fattah Saleh Rajab El Attar Partner
·
Abdul Fattah El Mahjoub Abdul Fattah Saleh Rajab El
Attar Partner
·
Sameh El Mahjoub Abdul Fattah Saleh Rajab El Attar Partner
·
Sameh Faraj Sales Officer
Date of Establishment : 1954
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 215915,
Cairo
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
·
El Mahjoub Abdul Fattah Saleh Rajab El Attar
·
Khalid El Mahjoub Abdul Fattah Saleh Rajab El Attar
·
Mohamed El Mahjoub Abdul Fattah Saleh Rajab El Attar
·
Abdul Fattah El Mahjoub Abdul Fattah Saleh Rajab El
Attar
·
Sameh El Mahjoub Abdul Fattah Saleh Rajab El Attar
Activities: Engaged in the wholesale and retail of
dried food products, including spices, nuts and dried fruits.
Import
Countries: France, India,
Thailand, Singapore, Turkey and the United States of America.
International
Suppliers:
·
Hans Raj India
·
Mehta Co India
Operating Trend: Steady
Subject has a
workforce of 50 employees.
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 10,685,000 £E 11,190,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Societe Generale Bank SAE
Evergreen Building
10 Talaat Harb Street
PO Box: 2664
Cairo
Tel: (20-2) 25749376
Fax: (20-2) 25776249
No complaints
regarding subject’s payments have been reported.
Please note that the
subject’s correct name is “Rajab El Attar and Sons Company” and not “Ragab
Elattar & Sons Company”. Please also note that the address “10 Triame
Square” should be “10 Triumph Square”.
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.84 |
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|
1 |
Rs.93.26 |
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Euro |
1 |
Rs.71.56 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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.