|
Report No. : |
326645 |
|
Report Date : |
20.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL GROUP
FOR TRADING AND INDUSTRY |
|
|
|
|
Registered Office : |
20 Syria Street, El Mohandessin, 2nd Industrial Zone, Giza, 6th of October City |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
22.06.2003 |
|
|
|
|
Com. Reg. No.: |
9968 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Import,
Installation, Distribution and Maintenance of Household Appliances and
Electronic Devices. |
|
|
|
|
No. of Employees : |
4,000 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
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 : UNIVERSAL
GROUP FOR TRADING AND INDUSTRY
Country of Origin : Egypt
Legal Form : Egyptian
Joint Stock Company
Registration Date : 22nd
June 2003
Commercial
Registration Number : 9968
Issued Capital : £E
500,000
Paid up Capital : £E 500,000
Total Workforce : 4,000
Activities :
Installation, distribution and maintenance of household appliances and
electronic devices.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
UNIVERSAL GROUP FOR
TRADING AND INDUSTRY
Street : 20 Syria Street
Area : El Mohandessin, 2nd
Industrial Zone, Giza
Town : 6th of October City
Country : Egypt
Telephone : (20-2) 33382003 / 33382004 / 33382005
/ 33382006
Facsimile : (20-2) 33385953
Email : info@universalgroup.org
Subject operates
from a large suite of offices that are rented and located in the Industrial
Area of 6th of October City.
Branch Office
(s)
Location
·
4 El
Riad Tower, 1st Floor
Tanta
Gharbeya
·
Saad
Zaghloul Street
1 Alaa Deraz Building, 2nd Floor
Shebin El Koum
Menofeya
·
23 Omar
Ibn Abdul Aziz Street
Shark District
Assuit
·
El
Fardous Street
6 El Qodah Buildings
Semouha
Alexandria
·
27
Mohamed Hassan El Gamal Street
Nasr City
Cairo
·
El
Sheikh Zayed
3rd District
Ismailia
·
10 El
Bostan Street
Downtown
Qena
·
1 Omar
Ibn El Khattab Street
Ard El Horreya
Benisuef
·
Commercial
Market
Shop No. 4, Computer Market 2
Cairo
·
Commercial
Building (Technology Mall)
Shop No. 219, El Mezaneya Floor
Cairo
·
61
Syria Street
El Mohandessin
Giza
·
7
Sphinx Square, 2nd Floor, Commercial Market
Mohandessin
Giza
·
43
Syria Street, 6th Floor
Mohandessin
Giza
·
El
Prince Street
Plot No. 147, 148 and 149, 2nd
Industrial Zone
6th of October City
Giza
Name Position
·
Youssry
El Sayed Abdel Aal Qotb Chairman
·
Ibrahim
Youssry El Sayed Abdel Aal Qotb Vice
Chairman
·
Omar
Youssry El Sayed Abdel Aal Qotb Director
·
Ahmed
El Sayed Finance
Manager
·
Ahmed
Hashem Ahmed El Sheikh Branch
Manager
Date of Establishment: 22nd June 2003
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 9968
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
·
Youssry
El Sayed Abdel Aal Qotb
·
Ibrahim
Youssry El Sayed Abdel Aal Qotb
·
Omar
Youssry El Sayed Abdel Aal Qotb
·
Local
businessmen and private investors
·
Universal
For Industrial Engineering
·
Universal
For Home Appliances
Activities: Engaged in the import, installation,
distribution and maintenance of household appliances and electronic devices.
Subject is ISO 9001
accredited.
Import
Countries: Germany, Italy
and China
Local Suppliers:
·
Suez
Technology for Feeding Industries SAE
·
Ezz
Steel
Export
Countries: Saudi Arabia, United Arab Emirates, Tunisia
and Morocco.
Subject has a
workforce of approximately 4,000 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
1/1 Banks Zone
Giza
6th of October City
·
Emirates
NBD
8 Wadi El Nil Street
Mohandessin
Giza
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.101.26 |
|
Euro |
1 |
Rs.72.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
|
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.