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Report No. : |
326875 |
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Report Date : |
22.06.2015 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED MAHMOUD
EL MAGHAWRY & PARTNERS |
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|
|
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Registered Office : |
69 Gowher El Kaed Street Gamaliya Cairo |
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|
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Country : |
Egypt |
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Date of Incorporation : |
01.11.1986 |
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|
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Com. Reg. No.: |
244628 |
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Legal Form : |
Limited Liability
Partnership |
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|
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Line of Business : |
Engaged in the
wholesale and retail of silk and viscose used in hand woven carpets and
clothing. |
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No. of Employee : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
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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. Egypt's current Constitution passed in a referendum that took place in January 2014.
|
Source
: CIA |
Company Name : MOHAMED
MAHMOUD EL MAGHAWRY & PARTNERS
Trade Name :
SULTAN CARPET
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 1st
November 1986
Commercial
Registration Number : 244628
Issued Capital : £E
20,000
Paid up Capital : £E 20,000
Total Workforce : 50
Activities :
Wholesalers and retailers of silk and viscose
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MOHAMED MAHMOUD EL
MAGHAWRY & PARTNERS
SULTAN CARPET
Street : 69 Gowher El Kaed Street
Area : Gamaliya
Town : Cairo
Country : Egypt
Telephone : (20-2) 25904859
Facsimile : (20-2) 25890851
Mobile : (20-100) 2331195
Email : migosm@yahoo.com
Subject operates from
a medium sized suite of offices a warehouse and a retail outlet that are owned
and located in the Central Business Area of Cairo.
Branch Offices
Location Description
·
18 Km
Sakkara Office
premises
Tourist Road
Giza
Tel: (20-2)
38192333 / 38192222
Fax:
(20-2) 38192111
·
5 Ard
El Tawel Office
premises
El Guish Street
Bab El Shaareya
Cairo
Name Position
·
Mohamed
Mahmoud El Maghawry Managing
Partner
·
Abdel
Salam Mohamed Abdel Salam General
Manager
·
Mahmoud
El Milegy Accounts
Manager
Date of Establishment : 1st
November 1986
Legal Form :
Limited Liability
Partnership
Commercial
Reg. No. : 244628
Issued Capital : £E 20,000
Paid up Capital : £E 20,000
·
Mohamed
Mahmoud El Maghawry 60%
·
Mohamed
Mahmoud El Maghawry Family members 40%
Activities: Engaged in the wholesale and retail of silk
and viscose used in hand woven carpets and clothing.
Import
Countries: India
Export Countries: United States of America
Operating Trend: Steady
Subject has a
workforce of 50 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 12,440,000 £E 13,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Union
National Bank Egypt
10 Talaat Harb Street
Cairo
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
: |
RAS |
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|
|
|
Report Prepared
by : |
ANK |
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.