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Report No. : |
322502 |
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Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Nedeeba Street, Damanhour Beheira 22511 |
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Country : |
Egypt |
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Date of Incorporation : |
1970 |
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Com. Reg. No.: |
63424 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the hulling of rice and the sorting and packaging of crops, including peas, sesame seeds, sunflower seeds, corn, peanuts, dates, chickpeas, cumin, lentils, beans, fennel and pumpkin seeds. |
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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 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 : AL AMAL FOR AGRICULTURAL CROPS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Start Date : 1970
Registration Date : 1990
Commercial Registration Number : 63424
Tax Card Number : 210-736-925
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 100
Activities : Hulling of rice and the sorting and packaging of crops.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Emad Mahmoud Shehata, Director
AL AMAL FOR
AGRICULTURAL CROPS SAE
Street : Nedeeba Street
Area : Damanhour
Town : Beheira 22511
Country : Egypt
Telephone : (20-45) 3252525 / 3252626 / 3252626
Facsimile : (20-45) 3252222
Mobile : (20-100) 3030108 / 5766660 /
0236360
Email : alamal@alamal.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Beheira.
Name Position
·
Ragab
Mahmoud Shehata Managing
Director
·
Emad
Mahmoud Shehata Director
·
Mohamed
Abdulwahab Mahmoud Shehata Director
·
Duhaa
El Safti Import
Manager
·
Ayman
Mabrook Financial
Controller
Date of Establishment : 1970, however
subject was registered in 1990
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 63424
Tax Card No. : 210-736-925
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
·
Ragab
Mahmoud Shehata 40%
·
Emad
Mahmoud Shehata 30%
·
Mohamed
Abdulwahab Mahmoud Shehata 30%
Activities: Engaged in the hulling of rice and the
sorting and packaging of crops, including peas, sesame seeds,
sunflower seeds, corn,
peanuts, dates, chickpeas, cumin, lentils, beans, fennel and pumpkin seeds.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 100 employees.
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
National
Bank of Egypt
Gamal Abdel Nasser Street
Beheira
Tel: (20-45) 2910482
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.57 |
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|
1 |
Rs. 99.66 |
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Euro |
1 |
Rs. 70.92 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.