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Report No. : |
330273 |
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Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
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Name : |
KHALED AHSRY MOHAMED MAHMOUD & HIS PARTNER |
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Formerly Known As : |
ZAMANI OOUDH & INCENSE |
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Registered Office : |
300 El Ethadeya Buildings, Building 7, Flat 1, Al Haram Street, El
Talbeya, Giza Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
07.05.2011 |
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Com. Reg. No.: |
212216 |
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Legal Form : |
General Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of aromatic oils, perfumes
and incense |
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No. of Employee : |
5 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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.
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Source
: CIA |
Company Name : KHALED
AHSRY MOHAMED MAHMOUD & HIS PARTNER
Previously Known As : ZAMANI OOUDH
& INCENSE
Country of Origin : Egypt
Legal Form :
General Partnership
Registration Date : 7th May 2011
Commercial
Registration Number : 212216
Partners Capital : £E 5,000
Total Workforce : 5
Activities :
Distributors of aromatic oils, perfumes and incense
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
KHALED AHSRY
MOHAMED MAHMOUD & HIS PARTNER
PREVIOUSLY KNOWN
AS:
ZAMANI OOUDH & INCENSE
Building : 300 El
Ethadeya Buildings, Building 7, Flat 1
Street :
Al Haram Street
Area : El Talbeya,
Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 35859274
Facsimile : (20-2)
35859274
Mobile : (20-100)
8321400 / 7066601
Email : admin@zamanioud.com
Please note that subject’s previous address was, Federal Building,
Apartment No. 501, Giza, Pyramids, Cairo.
Subject operates from a small suite of offices a warehouse and a retail
outlet that are rented and located in the Central Business Area of Cairo.
Name Position
· Khaled Ahsry
Mohamed Mahmoud Managing
Partner
· Mohamed Ahsry
Mohamed Mahmoud Partner
Date of
Establishment : 7th
May 2011
Legal Form : General
Partnership
Commercial Reg. No. : 212216
Partners Capital : £E 5,000
· Khaled Ahsry
Mohamed Mahmoud
· Mohamed Ahsry
Mohamed Mahmoud
Activities: Engaged in the import and distribution of aromatic oils, perfumes and
incense.
Import Countries: Europe and Far East.
Agencies Held:
· Azur Company France
Brand Names: ZAMANI
Operating Trend: Steady
Subject has a workforce of 5 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
8,070,000 £E
8,220,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Qatar National Bank
Giza
Cairo
No complaints regarding subject’s payments have been reported.
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.63.51 |
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|
1 |
Rs.97.85 |
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Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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.