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Report No. : |
325165 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
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Name : |
FAST COMPANY FOR
SHIPPING AND TRADING |
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|
|
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Registered Office : |
10 Moustafa Lotfy
El Manfalouty Street, 3rd Floor, Stanly, Alexandria |
|
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Country : |
Egypt |
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Date of Incorporation : |
05.10.2003 |
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Com. Reg. No.: |
40979, Alexandria |
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|
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Providers of Sea
Freight Forwarding and Logistics Services. |
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No. of Employees : |
25 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : FAST
COMPANY FOR SHIPPING AND TRADING
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 5th
October 2003
Commercial Registration
Number : 40979, Alexandria
Invested Capital : £E 50,000
Total Workforce : 25
Activities :
Providers of sea freight forwarding and logistics services
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
FAST COMPANY FOR
SHIPPING AND TRADING
Street : 10 Moustafa Lotfy El Manfalouty
Street, 3rd Floor
Area : Stanly
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5223830 / 5461235 / 5226069
Facsimile : (20-3) 5222341
Mobile : (20-100) 1401502
Email : info@fstco.net
/ managment@fstco.net
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Alexandria.
Name Position
·
Mohamed
Shabaan Proprietor
& General Manager
·
Salah
Mohamed Ashoush Commercial
Manager
·
Rania Mohamed
Ali Raw
Materials Manager
·
Osama
Alyada Sales
Manager
·
Mohamed
El Sayed Customer
Clearance Manager
Date of Establishment : 5th
October 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 40979, Alexandria
Invested Capital
: £E 50,000
Mr Mohamed Shabaan
is the sole proprietor of the business.
Activities: Engaged in the provision of sea freight
forwarding and logistics services.
Import
Countries: Europe and the
Far East
Local Clients:
·
Al Ezz
Dekheila Steel Company-Alexandria
·
Al Ezz
Flat Steel Co. SAE
·
Al Ezz
Repar Steel
·
Arab
Company For Special Steel (Arco Steel)
·
Swiss
Steel
·
Egyptian
Iron & Steel Company
·
Egyptian
American Steel Rolling Co. (Beshay Steel)
·
International
Casting & Modern Industries (I.C.M.I)
·
United
Company For Foundries
·
Alexandria
Automotive Casting
·
Helwan
Iron Foundries
·
Amreya
Metal Co
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
557 El Guish Road
Miamim
Alexandria
·
Alex
Bank
19 Salah Salem Street
El Mansheya
Alexandria
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.64.11 |
|
|
1 |
Rs.97.84 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
-- |
|
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.