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Report No. : |
322627 |
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Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AL EMAN FOR TEXTILES & WOOLS |
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|
|
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Registered Office : |
3/5 Bebras
Street, El Hamzawi Al Kabir, Al Azhar, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Establishment
: |
1945 |
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Com. Reg. No.: |
251150 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the
wholesale and retail of textiles and wools |
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No. of Employees : |
40 |
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 |
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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 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 EMAN
FOR TEXTILES & WOOLS
Country of
Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration
Date :
1945
Commercial
Registration Number : 251150,
Cairo
Invested Capital :
£E 20,000
Total Workforce :
40
Activities :
Wholesalers and retailers of textiles and wools.
Financial
Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person
Interviewed :
Ahmed
Mohamed Amin Aref, Proprietor
AL
EMAN FOR TEXTILES & WOOLS
Street : 3/5 Bebras Street
Area : El Hamzawi Al
Kabir, Al Azhar
Town : Cairo
Country : Egypt
Telephone : (20-2) 25115029
Facsimile : (20-2) 25127570
Mobile : (20-100) 5067030 /
(20-122) 2108611
Email : al-eman-co@yahoo.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
104 Azhar Street Showroom
premises
Cairo
Tel: (20-2)
25913349
Fax: (20-2)
25121018
·
34 El Trasnah Club Street Showroom
premises
Cairo
·
El Mohandessin Showroom
premises
Cairo
Name Position
·
Ahmed Mohamed Amin Aref Proprietor
·
Rabee Farhat Sales
Manager
Date of Establishment : 1945
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 251150,
Cairo
Invested Capital
: £E 20,000
Mr Ahmed Mohamed
Amin Aref is the sole
proprietor of the business.
Activities: Engaged in the wholesale and retail of
textiles and wools.
Import
Countries: India
International Suppliers:
·
Sangam Textile India
·
BSL Textile India
· Banswar India
· Gravera Textile India
· Mahajan Textile India
· OCM India
Operating Trend: Steady
Subject has a
workforce of 40 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 9,100,000 £E 9,420,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank
41 Kasr El Nile Street
Cairo
Tel: (20-2) 23930731
Fax: (20-2) 23930872
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.63.70 |
|
|
1 |
Rs.98.92 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
VNT |
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 |
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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.