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Report No. : |
325577 |
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Report Date : |
13.06.2015 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED MOHAMED REFAT ABD EL HAFIZ EL SHEHAWY |
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Registered Office : |
El Shehawy Building, El Dwal El Arabia Street, Mansoura |
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Country : |
Egypt |
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Date of Incorporation : |
01.05.2008 |
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Legal Form : |
Sole
Proprietorship |
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|
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Line of Business : |
Subject is engaged in the import and distribution of agricultural
machinery |
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No. of Employee : |
6 |
RATING & COMMENTS
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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 |
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Moderate |
B1 |
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High |
B2 |
|
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.
|
Source
: CIA |
Company
Name :
MOHAMED MOHAMED REFAT ABD EL HAFIZ EL SHEHAWY
Country
of Origin : Egypt
Legal
Form :
Sole Proprietorship
Registration
Date : 1st
May 2008
Invested
Capital : £E 20,000
Total
Workforce :
6
Activities :
Distributors of agricultural machinery
Financial
Condition :
Fair
Payments : Nothing
detrimental uncovered
Operating
Trend :
Steady
MOHAMED MOHAMED
REFAT ABD EL HAFIZ EL SHEHAWY
Building : El Shehawy
Building
Street : El Dwal El
Arabia Street
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2265311
Facsimile : (20-50)
2265311
Mobile : (20-100)
2000147
Subject operates from a small suite of offices and a warehouse that are
owned and located in the Central Business Area of Mansoura.
Name Position
· Mohamed Mohamed
Refat Abd El Hafiz El Shehawy Proprietor
& General Manager
· Hafez El Shehawy Finance
Manager
· El Sherbiny Abd El
Hafiz El Shehawy Administration
Manager
Date of
Establishment : 1st May
2008
Legal Form : Sole
Proprietorship
Invested Capital : £E 20,000
Mr Mohamed Mohamed Refat Abd El Hafiz El Shehawy is the sole proprietor
of the business.
Activities: Engaged in the import and distribution of agricultural machinery.
Import Countries: India and China
Operating Trend: Steady
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales £E
8,215,000 £E
8,490,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Banque Misr
197 El Gomhoureya Street
Mansoura
·
Arab African International Bank
195 El Gomhoureya Street
Mansoura
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.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.