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Report No. : |
322334 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AL SHAMS FOR
IMPORT AND TRADING |
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Registered Office : |
22 Moulai Mohamed Street El Mansheya Alexandria |
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Country : |
Egypt |
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Date of Incorporation : |
07.10.2003 |
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Com. Reg. No.: |
41005, Alexandria |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of textiles, including cotton and yarn. |
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No. of Employee : |
6 |
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 |
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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.
|
Source
: CIA |
Company Name : AL SHAMS
FOR IMPORT AND TRADING
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 7th
October 2003
Commercial
Registration Number : 41005,
Alexandria
Tax Card Number : 200-594-737
Invested Capital :
£E 80,000
Total Workforce :
6
Activities :
Distributors of textiles
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shawky Mukhtar
Shaker, Proprietor & General Manager
AL SHAMS FOR IMPORT
AND TRADING
Street : 22 Moulai Mohamed Street
Area : El Mansheya
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4810603
Facsimile : (20-3) 4810603
Mobile : (20-122) 7471032
Email : shawkyegypt@yahoo.com / shawky_egypt40@yahoo.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Offices
Location Description
·
Darb
Saadah Office
premises
El Kordiah
Cairo
Name Position
·
Shawky
Mukhtar Shaker Proprietor
& General Manager
·
Mahmoud
Hanafi Abu Hussain Assistant
General Manager
·
Sami
Shaker Sales
Officer
Date of Establishment : 7th
October 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 41005,
Alexandria
Tax Card No. : 200-594-737
Invested Capital
: £E 80,000
Mr Shawky Mukhtar Shaker
is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
textiles, including cotton and yarn.
Import
Countries: Europe and
India.
International Suppliers:
·
Aarvee Denim & Export Ltd India
·
Sangam Textile India
·
BTM India
Operating Trend: Steady
Subject has a
workforce of 6 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Revenue £E 8,380,000 £E 8,925,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
Alexandria
Tel: (20-3) 4824802 / 4825715
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.69 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
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 |
|
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.