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Report No. : |
321072 |
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Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
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Name : |
NEW AWA COMPANY FOR CHEMICAL RAW MATERIALS |
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Registered Office : |
Building No. 2, Jordanian Area, Sharkeya, 10th of Ramadan City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Year of
Establishment: |
2005 |
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Com. Reg. No.: |
5087 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject
is engaged in the import and distribution of chemicals for pharmaceuticals,
foodstuffs and cosmetics. |
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No. of Employees : |
100 |
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) |
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Egypt |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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.
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Source
: CIA |
Company Name : NEW AWA COMPANY FOR CHEMICAL RAW MATERIALS
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2005
Commercial Registration Number : 5087
Tax Card Number : 213-363-879
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 100
Activities : Distributors of chemicals for pharmaceuticals, foodstuffs and cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dr Ashraf Abd El Tawab Moubarak, Partner
NEW AWA COMPANY FOR CHEMICAL RAW
MATERIALS
Building : Building
No. 2
Area : Jordanian
Area, Sharkeya
Town : 10th of Ramadan
City
Country : Egypt
Telephone : (20-15) 387240
Facsimile : (20-15) 387250
Mobile : (20-122) 2122272
Email : alexoffice@newawachemical.com /
ashraf.mubarak@newawachemical.com
Please note that
subject’s previous address was, 26 Bahaa El Din
Street, Smouha, Alexandria.
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Suburban Business Area of 10th of Ramadan City.
Branch Office
(s)
Location Description
·
5
Nakhla El Motaie Street Rented
office premises
Heliopolis
Cairo
Tel: (20-2) 26401569 / 26401579
Fax: (20-2) 26401589
·
Ismailia
– Port Said Desert Road Rented
office premises
Ismailia Public Free
Zone
Ismailia
Tel: (20-64) 3481548
Fax: (20-64) 3481458
Name Position
·
Mohamed Abd El Tawab Moubarak Managing
Partner
·
Akram Abd El Tawab Moubarak Partner
·
Hany Abd El Tawab Moubarak Partner
·
Dr Ashraf Abd El Tawab Moubarak Partner
·
Ahmed
Tawfik General
Manager
·
Sabri
Ali Financial
Manager
Date of Establishment : 2005
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 5087
Tax Card No. : 213-363-879
Import Reg. No. : 44358
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
·
Mohamed Abd El Tawab Moubarak
·
Akram Abd El Tawab Moubarak
·
Hany Abd El Tawab Moubarak
·
Dr Ashraf Abd El Tawab Moubarak
·
New Awa
FZE
Sharjah International Airport Free Zone (Saif Zone)
PO Box: 122431
Sharjah
United Arab Emirates
Tel: (971-6) 5529528
Fax: (971-6) 5529539
Mob: (971-50) 5640973
Activities: Engaged in the
import and distribution of chemicals for pharmaceuticals, foodstuffs and
cosmetics.
Import
Countries: India, Europe, Brazil, Argentina, Malaysia, South Korea and the
United States of America
International
Suppliers:
·
Salielates &
Chemicals India
·
Caila & Pares Spain
·
NID Medical France
Agencies Held:
·
Argills
BV
·
North
China Pharmaceutical Victor Co Ltd
·
Shandong
Shida Shenghua Chemical Co Ltd
·
Salicylates
and Chemicals
·
Sorini
Corporation
·
Lution
Hongyuan Biochemical
·
Northeast
Pharm
·
Wuxue
Xunda Pharmaceutical Co Ltd
·
3V
Operating Trend: Steady
Subject has a
workforce of 100 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 135,800,000 £E 141,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Egyptian
Saudi Finance Bank
8 Bany El Abbasy Street
Azarita
Alexandria
Tel: (20-3) 4875672
No complaints
regarding subject’s payments have been reported.
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.64.05 |
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|
1 |
Rs.99.04 |
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Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
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Analysis Done by
: |
SAN |
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Report Prepared
by : |
VNT |
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.