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Report No. : |
314568 |
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Report Date : |
31.03.2015 |
IDENTIFICATION DETAILS
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Name : |
ABOUGHALY GROUP FOR INVESTMENT TRADING & SUPPLIES |
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Registered Office : |
El Obour Market, Shop No. 45 & 46, Kaliubeya, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
23.11.2006 |
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Com. Reg. No.: |
41571 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the wholesale and retail of fish, seafood and related
items. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Egypt |
B2 |
B2 |
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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 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 |
Company Name :
ABOUGHALY GROUP FOR INVESTMENT TRADING & SUPPLIES
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Start Date :
23rd November 2006
Registration Date :
13th October 2009
Commercial Registration Number :
41571
Issued Capital :
£E 1,000,000
Paid up Capital :
£E 1,000,000
Total Workforce :
20
Activities :
Wholesalers and retailers of fish, seafood and related items
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ABOUGHALY GROUP FOR INVESTMENT TRADING & SUPPLIES
Registered &
Physical Address
Building : El Obour
Market, Shop No. 45 & 46
Area : Kaliubeya
Town : Cairo
Country : Egypt
Telephone : (20-2) 44770501
/ 44770502
Facsimile : (20-2)
44770835
Mobile : (20-122)
2109259
Email : info@aboghalygroup.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Offices
Location Description
Area (B&G) Industrial Zone, Block 204 Owned warehouse
premises
El Obour City
Kaliubeya
Cairo
Name Position
Mehraz Mustafa Abdullah Abou Ghaly Managing
Partner
Mustafa Mehraz Mustafa Abdullah Abou Ghaly Partner
Montasr Mehraz Mustafa Abdullah Abou Ghaly Partner
Ali Mahmoud Finance
Manager
Amir El Wasl Human
Resources Manager
Mohamed Hosam Accountant
Date of Establishment : 23rd
November 2006, however subject was registered on 13th October 2009.
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 41571
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Partner
(s)
Mehraz Mustafa Abdullah Abou Ghaly
Mustafa Mehraz Mustafa Abdullah Abou Ghaly
Montasr Mehraz Mustafa Abdullah Abou Ghaly
Mohr Company Trading Agencies
Sharm International Company for Touristic Investment & Development
Migo Exporting & Importing Corporation
Abo Ghali for Engineering & Contracting & Interior Design
Al Masreya Co for Macaroni & Starches
MIAC for Fine Furniture
Cairo Automotive for Trading Services
Activities: Engaged in the wholesale and retail of fish, seafood and related items.
Import Countries: China, Saudi Arabia, Yemen, Malaysia and Vietnam.
International
Suppliers:
Sigal Malaysia
Feed Proedx Vietnam
Binan Vietnam
Operating Trend: Steady
Subject has a workforce of approximately 20 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
13,440,000 £E
15,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Arab African International Bank
Cairo Ismailia Desert Road
Golf City
El Obour City
Commercial International Bank
Cairo Ismailia Desert Road
Golf City
El Obour City
No complaints regarding subject’s payments have been reported.
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
|
1 |
Rs.92.94 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.