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Report No. : |
327639 |
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Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ABUMATTY ASKAR |
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Registered Office : |
Taimeen Saathi Stree, Agga City |
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Country : |
Egypt |
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Date of Incorporation : |
01.01.2010 |
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Com. Reg. No.: |
1192 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of household equipment
and utensils |
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No. of Employee : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 :
ABUMATTY ASKAR
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
1st January 2010
Commercial Registration Number :
1192
Invested Capital :
£E 10,000
Total Workforce :
6
Activities :
Distributors of household equipment and utensils.
Financial Condition :
Undetermined
Payments :
Unknown
ABUMATTY ASKAR
Location : Taimeen Saathi
Street
Town : Agga City
Country : Egypt
Telephone : (20-50) 6442245
Mobile : (20-100)
0094185
Subject operates from a small suite of offices, a warehouse and a showroom
that are rented and located in the Central Business Area of Agga City.
Name Position
· Abumatty Askar Proprietor
& General Manager
Date of
Establishment : 1st
January 2010
Legal Form : Sole Proprietorship
Commercial Reg. No. : 1192
Invested Capital : £E 10,000
Mr Abumatty Askar is the sole proprietor of the business.
Activities: Engaged in the import and distribution of household equipment and
utensils.
Import Countries: Turkey and India.
Subject has a workforce of 6 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.
·
Faisal Islamic Bank
Main Branch
Agga City
Unknown
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.
N EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
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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.