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Report No. : |
324064 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
EL ENANY COMPANY FOR FOODSTUFF |
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Registered Office : |
3rd
Industrial Zone, Plot No. 2, 6th of |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of
Establishment : |
1997 |
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Com. Reg. No.: |
97211 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged
in the import, processing and distribution of tea. |
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No. of Employees : |
100 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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.
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Source
: CIA |
Company Name : EL ENANY COMPANY FOR FOODSTUFF
Also Known As : ELWARDA
TEA
Country of
Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration
Date : 1997
Commercial
Registration Number : 97211
Issued Capital : £E
1,000,000
Paid up Capital : £E
1,000,000
Total Workforce : 100
Activities :
Processing and distribution of tea
Financial
Condition :
Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
EL ENANY COMPANY FOR FOODSTUFF
ALSO KNOWN AS: ELWARDA TEA
Location : 3rd Industrial Zone,
Plot No. 2
Town : 6th of October
City
Country :
Egypt
Telephone : (20-2) 38204117 / 38204118 / 38204119
Facsimile : (20-2) 38204118
Email : info@elwardatea.com
Subject operates from
a suite of offices and a factory covering 15,000 square metres that are owned
and located in the Industrial Area of 6th of October City.
Branch Offices
Location Description
·
Warda
Street Factory
premises covering
Elbadrashin 10,000
square metres
Giza
Cairo
Tel: (20-2) 38022403
Fax: (20-2) 38024292
Name Position
·
Adel El
Enani Managing
Partner
·
Sherif
El Enani Partner
·
Abdel
Satar Mahmoud Finance
Manager
·
Ihab
Hamad Purchasing
Manager
Date of Establishment : 1997
Legal Form :
Limited Liability
Partnership
Commercial
Reg. No. : 97211
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
·
Adel El
Enani
·
Sherif
El Enani
·
Enany
for Import & Export
6th of October City
Activities: Engaged in the import, processing and
distribution of tea.
Import
Countries: Kenya, Sri Lanka
and India.
Local Suppliers:
·
Diaa
Islamic Packing & Corrugated Carton Ind
Export Countries: Saudi Arabia, Oman, Libya and the United
Arab Emirates.
Brand Names: EL WARDA, EL ZAHRA and 2 FLAGS
Operating Trend: Steady
Subject has a
workforce of 100 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 21,500,000 £E 22,890,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
QNB Al
Ahli Bank
6th of October City
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
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.63.61 |
|
|
1 |
Rs.97.27 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared by
: |
VNT |
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 |
-- |
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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.