|
Report No. : |
323652 |
|
Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAF FOR TRADING
& IMPORTING |
|
|
|
|
Registered Office : |
Factory No. 4, Block 20031, Obour City Industrial Zone West Cairo 11828 |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
04.08.1997 |
|
|
|
|
Com. Reg. No.: |
306604, Cairo |
|
|
|
|
Legal Form : |
Limited Liability
Partnership |
|
|
|
|
Line of Business : |
Engaged in the
import, distribution and maintenance of general tools and hardware. |
|
|
|
|
No. of Employee : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : RAF FOR
TRADING & IMPORTING
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 4th
August 1997
Commercial
Registration Number : 306604,
Cairo
Issued Capital : £E
200,000
Paid up Capital : £E
200,000
Total Workforce :
30
Activities :
Distribution and maintenance of general tools and hardware.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Khaled Mohamed
Marzook, Managing Partner
RAF FOR TRADING
& IMPORTING
Location : Factory No. 4, Block 20031, Obour
City Industrial Zone West
Town : Cairo 11828
Country : Egypt
Telephone : (20-2) 44810180 / 44810181
Facsimile : (20-2) 44810182
Mobile : (20-122) 7490144 / 3193742
Email : khldraf@rafgroup.net
Subject operates
from a medium sized suite of offices, a warehouse and workshop that are rented
and located in the Industrial Area of Cairo.
Name Position
·
Khaled
Mohamed Marzook Managing
Partner
·
Saeed
Mohamed Marzook Partner
·
Rabab
Ahmed Administrative
Officer
Date of Establishment : 4th
August 1997
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 306604,
Cairo
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
·
Khaled
Mohamed Marzook
·
Saeed
Mohamed Marzook
Activities: Engaged in the import, distribution and
maintenance of general tools and hardware.
Import
Countries: Germany
International
Suppliers:
·
Stahwille GmbH Germany
·
Altitronik Germany
·
USH Germany
·
Rohmann
GmbH Germany
Operating Trend: Steady
Subject has a
workforce of 30 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales £E 9,450,000 £E 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Khaled Mohamed Marzook, Managing Partner
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 35703043
Fax: (20-2) 35703172 / 35072691
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.63.95 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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.