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Report No. : |
322160 |
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Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AVA SHENOUTY FOR IMPORT & EXPORT |
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Registered Office : |
9 Amina Shokry, Sidi Gaber, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
07.11.2012 |
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Com. Reg. No.: |
6177 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of crops such as garlic, sunflower seeds, oranges, peanuts, ginger and grapes. |
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No of Employees : |
2 |
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
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 : AVA SHENOUTY FOR IMPORT & EXPORT
Also Known As : GEORGE HANY FAKRY ASKANDER
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 7th November 2012
Commercial Registration Number : 6177
Invested Capital : £E 25,000
Total Workforce : 2
Activities : Distributors of crops
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME: AVA SHENOUTY FOR IMPORT & EXPORT
ALSO KNOWN AS: GEORGE HANY FAKRY ASKANDER
Location : 9 Amina Shokry, Sidi Gaber
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5459928
Facsimile : (20-3) 5459928
Mobile : (20-122) 7509507
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Alexandria.
Name Position
·
George Hany
Fakry Askander Proprietor
& General Manager
·
Goergette
George Accountant
Date of Establishment : 7th
November 2012
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 6177
Invested Capital
: £E 25,000
Mr George Hany
Fakry Askander is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
crops such as garlic, sunflower seeds, oranges, peanuts, ginger and grapes.
Import
Countries: China, Turkey, India
and Brazil.
Operating Trend: Steady
Subject has a
workforce of 2 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 Sales £E 4,300,000 £E 4,785,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Audi
Bank
Alexandria
Egypt
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
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Indian Rupees |
|
US Dollar |
1 |
Rs. 63.86 |
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|
1 |
Rs. 98.88 |
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Euro |
1 |
Rs. 70.73 |
INFORMATION DETAILS
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Analysis Done by
: |
SAN |
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Report Prepared by
: |
DPT |
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 |
-- |
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.