MIRA INFORM REPORT

Report No. :	342708
Report Date :	02.10.2015

IDENTIFICATION DETAILS

Name :	AL ISLAMIA FOR IMPORTING

Registered Office :	Al Ahlam Tower 29 Al Tamer Street Port Said

Country :	Egypt

Date of Incorporation :	1990

Legal Form :	Sole Proprietorship

Line of Business :	Engaged in the import and distribution of textiles and fabrics.

No. of Employee :	4

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Egypt

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : AL ISLAMIA FOR IMPORTING

Country of Origin : Egypt

Legal Form : Sole Proprietorship

Registration Date : 1990

Invested Capital : £E 10,000

Total Workforce : 4

Activities : Distributors of textiles and fabrics

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

ARIC Credit Rating : BB

Recommended Credit Limit : US$ 150,000

Person Interviewed : Ahmed Mamdouh, Sales Executive

COMPANY NAME

AL ISLAMIA FOR IMPORTING

ADDRESS

Registered & Physical Address

Building : Al Ahlam Tower

Street : 29 Al Tamer Street

Town : Port Said

Country : Egypt

Telephone : (20-66) 3720120 / 3731666

Mobile : (20-109) 9977707 / (20-100) 6320631

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Port Said.

KEY PRINCIPALS

Name Position

· Ali Mohamed Mostafa Abu El Najaa Proprietor & General Manager

· Ahmed Mamdouh Sales Executive

LEGAL FORM & OWNERS

Date of Establishment : 1990

Legal Form : Sole Proprietorship

Invested Capital : £E 10,000

Mr Ali Mohamed Mostafa Abu El Najaa is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of textiles and fabrics.

Import Countries: China, Taiwan and South Korea.

Operating Trend: Steady

Subject has a workforce of 4 employees.

FINANCIAL DATA

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 7,900,000 £E 8,325,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· Commercial International Bank (CIB)

El Gomhouria Street

Port Said Free Zone

Port Said

Tel: (20-66) 336801

Fax: (20-66) 325956

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.55
UK Pound	1	Rs.99.17
Euro	1	Rs.73.08

INFORMATION DETAILS

Analysis Done by :	KAS

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.