MIRA INFORM REPORT
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Report No. : |
321525 |
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Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
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Name : |
MOUNIR
ALI TRADING IMPORT & EXPORT AGENCIES |
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Registered Office : |
32 Aswan & El Hamidy Street Port Said 42511 |
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Country : |
Egypt |
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Date of Incorporation : |
1975 |
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Com. Reg. No.: |
28392,
Port Said |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the import and distribution of agricultural products, spices,
seasonings, dried fruits and nuts. |
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No. of Employee : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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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 limitedFOREIGN EXCHANGE
earnings
have made public finances unsustainable, leaving authorities dependent on
expensive borrowing for deficit finance and on Gulf allies to help cover the
impor
|
Source
: CIA |
SUMMARY
Company Name : MOUNIR ALI TRADING IMPORT & EXPORT AGENCIES
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 1975
Commercial
Registration Number : 28392, Port Said
Tax Card Number : 50077
Invested Capital :
£E 50,000
Total Workforce :
12
Activities :
Distributors of agricultural products, spices,
seasonings, dried fruits and
nuts.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Mounir Ali Mahmoud Amin, Assistant General
Manager
COMPANY
NAME
MOUNIR ALI TRADING IMPORT &
EXPORT AGENCIES
ADDRESS
Registered & Physical
Address
Location : 32 Aswan & El Hamidy Street
Town : Port Said
42511
Country : Egypt
Telephone : (20-66) 3236176
/ 3226820
Facsimile : (20-66)
3325706 / 3226820
Mobile : (20-122) 2434322 / (20-10) 1357222 / (20-11) 0076780
Email : info@mounirali.com
/ mounirali@gmail.com / Mohamed@mounirali.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Port Said.
KEY
PRINCIPALS
Name Position
·
Mounir Ali Mahmoud Amin Proprietor
& General Manager
·
Mohamed Mounir Ali Mahmoud Amin Assistant
General Manager
LEGAL
FORM & OWNERS
Date of Establishment : 1975
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 28392, Port Said
Tax Card No. : 50077
Invested Capital
: £E 50,000
Mr Mounir Ali Mahmoud Amin is the sole proprietor of
the business.
AFFILIATED
COMPANIES
·
Radwan Fish & Freezing Co
Port Said
OPERATIONS
Activities: Engaged in the import
and distribution of agricultural products, spices, seasonings, dried fruits and
nuts.
Import Countries: China, India, Sri Lanka, Vietnam,
Philippines, Indonesia, Pakistan, South Korea, Taiwan, Japan,
Malaysia, Singapore, Thailand, Iran, Turkey, Greece, Brazil, Guatemala,
and South Africa
International
Suppliers:
·
VACCO
Export India
· Dharhaver Export India
Operating Trend: Steady
Subject has a
workforce of 12 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales £E 8,165,000 £E 8,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Mounir Ali Mahmoud
Amin, Assistant General Manager
BANKERS
·
National
Bank of Egypt
52 El Gomhouria Street
Port Said
Tel: (20-66) 3224816 / 3226637
Fax: (20-66) 3327008
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.20 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.