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Report No. : |
328580 |
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Report Date : |
30.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL AALAAM MISR
COMPANY |
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|
|
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Registered Office : |
Cairo Alexandria Agricultural Road, Shubra An Namlah, Basioun, Tanta |
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|
|
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Country : |
Egypt |
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Date of Incorporation : |
16.02.2014 |
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Com. Reg. No.: |
23131 |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and Distribution
of General Foodstuffs, including Spices, Nuts and Seeds. |
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No. of Employees : |
6 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
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|
Status : |
New Company |
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|
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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 |
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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 : AL AALAAM MISR COMPANY
Country of Origin : Egypt
Legal Form :
General Partnership
Registration Date : 16th
February 2014
Commercial
Registration Number : 23131
Partners Capital : £E 60,000
Total Workforce : 6
Activities :
Distributors of general foodstuffs.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
AL AALAAM MISR
COMPANY
Street : Cairo Alexandria Agricultural
Road
Area : Shubra An Namlah, Basioun
Town : Tanta
Country : Egypt
Telephone : (20-40) 3060999
Facsimile : (20-40) 3060999
Mobile : (20-100) 3424291
Email : alaalaamegypt@yahoo.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Tanta.
Name Position
·
Abdel
Wahab Mustapha Abd El Wahab Dabor Managing
Partner
·
Heba Farouk
Saad Sahloob Partner
·
Mohamed
Ghoneim Administration
Manager
Date of Establishment : 16th
February 2014
Legal Form :
General Partnership
Commercial
Reg. No. : 23131
Partners Capital : £E 60,000
·
Abdel
Wahab Mustapha Abd El Wahab Dabor
·
Heba
Farouk Saad Sahloob
Activities: Engaged in the import and distribution of
general foodstuffs, including spices, nuts and seeds.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 6 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
United
Bank
Main Branch
Tanta
No complaints regarding
subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.92 |
|
|
1 |
Rs.100.40 |
|
Euro |
1 |
Rs.70.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
|
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 |
-- |
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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.