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Report No. : |
332207 |
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Report Date : |
28.07.2015 |
IDENTIFICATION DETAILS
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Name : |
AL WATANEYA FOR CHEMICAL INDUSTRIES |
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Registered Office : |
40 Ibn Kotaiba Street, Hey El Zohoor, Nasr City, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
01.06.2011 |
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Com. Reg. No.: |
4146, 10th of Ramadan |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the manufacture of chemicals for textiles. |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
B2 |
|
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.
|
Source
: CIA |
Company Name :
AL WATANEYA FOR CHEMICAL INDUSTRIES
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
1st June 2011
Commercial Registration Number :
4146, 10th of Ramadan
Tax Card Number :
338-012-028
Issued Capital :
£E 300,000
Paid up Capital :
£E 300,000
Total Workforce : 25
Activities :
Manufacture of chemicals for textiles.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
AL WATANEYA FOR CHEMICAL INDUSTRIES
Registered &
Physical Address
Street : 40 Ibn
Kotaiba Street
Area : Hey El
Zohoor, Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22604193
Facsimile : (20-2)
22613395
Mobile : (20-122)
3430300 / 3430600 / (20-100) 1950260
Email : smabrouk@tedata.net.eg
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
Industrial Zone A6, Block No. 23 Factory
premises
10th of Ramadan City
Name Position
Sabr Mabrouk Sayed Ahmed Managing
Partner
Shehab Sabr Mabrouk Sayed Ahmed Partner
Shawkat Sabr Mabrouk Sayed Ahmed Partner
Date of Establishment : 1st
June 2011
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4146, 10th
of Ramadan
Tax Card No. : 338-012-028
Issued Capital : £E 300,000
Paid up Capital : £E 300,000
Name of
Shareholder (s)
Sabr Mabrouk Sayed Ahmed
Shehab Sabr Mabrouk Sayed Ahmed
Shawkat Sabr Mabrouk Sayed Ahmed
Al Wataneya For Trade & Chemicals
40 Ibn Kutaiba Street
Hey El Zohoor
Nasr City
Cairo
Tel: (20-2) 22604193
Fax: (20-2) 22613395
Activities: Engaged in the manufacture of chemicals for textiles.
Import Countries: Europe and the Far East.
Subject has a workforce of 25 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 (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.00 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
-- |
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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.