MIRA INFORM REPORT
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Report No. : |
311274 |
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Report Date : |
17.03.2015 |
IDENTIFICATION DETAILS
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Name : |
EL GABARTY FOR
IMPORT AND EXPORT |
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|
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Registered Office : |
12 Central Spine, Tiba Grand Mall, Shop No. 43, Giza 6th of October City |
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Country : |
Egypt |
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Date of Incorporation : |
13.02.2014 |
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Com. Reg. No.: |
21087 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Subject holds a general
trade licence, enabling it to distribute general merchandise |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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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 – 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 |
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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 aggressively
pursued economic reforms to attract foreign investment and facilitate growth.
Poor living conditions combined with limited job opportunities for the average
Egyptian contribute to public discontent. After unrest erupted in January 2011,
the Egyptian Government backtracked on economic reforms, drastically increasing
social spending to address public dissatisfaction, but political uncertainty at
the same time caused economic growth to slow significantly, reducing the
government's revenues. Tourism, manufacturing, and construction were among the
hardest hit sectors of the Egyptian economy, pushing up unemployment levels,
and economic growth remains slow amid political uncertainty, government transitions,
unrest, and cycles of violence. Cairo since 2011 has drawn down FOREIGN EXCHANGE
reserves
and depended on foreign assistance, particularly from Gulf countries, to
finance imports and energy products and prevent further devaluation of the
Egyptian pound, fearing higher inflation from a weaker currency.
|
Source
: CIA |
SUMMARY
Company Name : EL GABARTY
FOR IMPORT AND EXPORT
Country of Origin : Egypt
Legal Form : Sole
Proprietorship
Registration Date : 13th
February 2014
Commercial
Registration Number : 21087
Invested Capital : £E 50,000
Total Workforce : 3
Activities :
General trade licence.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY
NAME
EL GABARTY FOR IMPORT AND EXPORT
ADDRESS
Registered Address
Location : 12 Central Spine, Tiba Grand Mall,
Shop No. 43, Giza
Town : 6th of October City
Country : Egypt
Physical Address
Building : Apartment No. 8
Street : 37 Gamal Abdel Nasser Street
Area : Giza
Town : 6th of October City
Country : Egypt
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of 6th of October City.
KEY
PRINCIPALS
Name Position
·
Tarek
Abdel Nasser Abdul Wahed El Gabarty Proprietor
& General Manager
LEGAL
FORM & OWNERS
Date of Establishment : 13th
February 2014
Legal Form :
Sole Proprietorship
Commercial
Reg. No. : 21087
Invested Capital
: £E 50,000
Mr Tarek Abdel
Nasser Abdul Wahed El Gabarty is the sole proprietor of the business.
OPERATIONS
Activities: Subject holds a general trade licence,
enabling it to distribute general merchandise.
Subject has a
workforce of 3 employees.
FINANCIAL
DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Export
Development Bank of Egypt
Plot 3/1, 4th
Industrial Region
Giza
6th of October City
Tel: (20-2) 38330599
Fax: (20-2) 38330570
PAYMENT
HISTORY
Unknown
GENERAL
COMMENTS
Please note that we
were unable to contact the subject directly during our investigation.
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.62.82 |
|
|
1 |
Rs.92.82 |
|
Euro |
1 |
Rs.66.17 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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.