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Report No. : |
334024 |
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Report Date : |
30.07.2015 |
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Tel No.: |
204526334138 |
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Fax No.: |
20452634137 |
NOTE: Correct Name of the subject is “ALLGAEU
VET”
IDENTIFICATION DETAILS
|
Name : |
ALLGAEU VET |
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Registered Office : |
Plot No. 220, Second Industrial City, Cairo Alexandria Desert Road, El Nubaria, |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
2012 (Production
began 2nd quarter of 2013) |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture and
Distribution of Animal Feeds and Related Products. |
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No. of Employees : |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : ALLGAEU
VET
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 2012
Invested Capital :
£E 20,000,000
Total Workforce :
80
Activities :
Manufacture and distribution of animal feeds and related products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Person Interviewed : Dr Aly Ghandour, General Manager
ALLGAEU VET
Location : Plot No. 220, Second Industrial
City
Street : Cairo Alexandria Desert Road
Town : El Nubaria
Country : Egypt
Telephone : (20-45) 2634137
Facsimile : (20-45) 2634138
Mobile : (20-114) 5895555 / (20-122) 6064640
Email : aly@allgaeuvet.com / info@allgaeuvet.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of El Nubaria.
Branch Offices
Location Description
·
Panorama
Aemar Tower Office
premises
Smouha
Alexandria
Name Position
·
Dr Emad
El Hamdani Proprietor
·
Dr Aly Ghandour General Manager
·
Majid
Abdullah Finance
Manager
Date of Establishment : 2012
(Production began 2nd quarter of 2013)
Legal Form :
Sole Proprietorship
Invested Capital
: £E 20,000,000
Dr Emad El Hamdani
is the sole proprietor of the business.
·
Al
Fajer Feed Mill
El Nubaria
Tel: (20-114) 5895555 / (20-122) 6064640
Activities: Engaged in the manufacture and distribution
of animal feeds and related products.
Import
Countries: Belgium and
Germany
International Suppliers:
·
Bitafur Belgium
·
Novus Belgium
·
Evonic Germany
Subject has a
workforce of 80 employees.
Financial highlights
provided by local sources are given below:
Currency: Euros
(EUR)
Year
Ending 31/12/14:
Projected Total
Sales EUR 7,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figure
was provided by Dr Aly Ghandour, General
Manager
·
Credit
Agricole Egypt
6 Hassan Sabri Street
Zamalek
Cairo
Tel: (20-2) 7391556
·
Qatar National
Bank
Champollion Street
Cairo
Tel: (20-2) 27707628
No complaints
regarding subject’s payments have been reported.
Please note that
the correct name of the subject is “Allgaeu Vet” and not “Allgeau”.
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.63.89 |
|
|
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
|
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.