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Report No. : |
329755 |
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Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
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Name : |
EL HAMD FOR IMPORT & EXPORT |
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Registered Office : |
8 Side Road, Al Masranni, 15 Street, Ekgadalm, Tannery Area, Misr El
Kaddima, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
03.03.2014 |
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Com. Reg. No.: |
54876 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the production of handmade leather products. |
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No. of Employees : |
22 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 :
EL HAMD FOR IMPORT & EXPORT
Also Known As :
EL HAMD TANNERY FOR IMPORT AND EXPORT
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
3rd March 2014
Commercial Registration Number :
54876
Invested Capital :
£E 50,000
Total Workforce : 22
Activities :
Producers of handmade leather products.
Financial Condition :
Undetermined
Payments :
Unknown
EL HAMD FOR IMPORT & EXPORT
EL
HAMD TANNERY FOR IMPORT AND EXPORT
Registered &
Physical Address
Location : 8 Side Road,
Al Masranni, 15 Street, Ekgadalm
Area : Tannery
Area, Misr El Kaddima
Town : Cairo
Country : Egypt
Telephone : (20-2) 3641314
Facsimile : (20-2) 3641314
Mobile : (20-100)
0596440
Premises
Subject operates from a small suite of offices and a workshop that are
rented and located in the Industrial Area of Cairo.
Name Position
Mohamed Rabea Noaman Ahmed Proprietor
& General Manager
Date of Establishment : 3rd
March 2014
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 54876
Invested Capital : £E 50,000
Mr Mohamed Rabea Noaman Ahmed is the sole proprietor of the business.
Activities: Engaged in the production of handmade leather products.
Import Countries: Turkey, China, India, Russia and the United
Kingdom.
Export Countries: Turkey and Italy.
Subject has a workforce of 22 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
Banque du Caire
22 Adly Street
PO Box: 1495
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
Unknown
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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 |
|
|
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 |
|
|
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 |
-- |
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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.