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Report No. : |
343782 |
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Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED MOHAMED ISSA RASHIDY CO |
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Registered Office : |
Abou Al Fadel Old Abassi Street, Gharbeya, Al Mahalla Al Kobra |
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Country : |
Egypt |
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Date of Incorporation : |
01.01.2002 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the wholesale and retail of perfumes. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
B2 |
|
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. Egypt's current
Constitution passed in a referendum that took place in January 2014.
|
Source
: CIA |
Company Name :
MOHAMED MOHAMED ISSA RASHIDY CO
Country of Origin :
Egypt
Legal Form :
General Partnership
Registration Date :
1st January 2002
Partners Capital :
£E 60,000
Total Workforce :
10
Activities :
Wholesalers and retailers of perfumes.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
MOHAMED MOHAMED ISSA RASHIDY CO
Registered &
Physical Address
Street : Abou Al
Fadel Old Abassi Street
Area : Gharbeya
Town : Al Mahalla Al
Kobra
Country : Egypt
Telephone : (20-40) 2237010
/ 2247010
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Al Mahalla Al Kobra.
Name Position
Mohamed Mohamed Issa Managing
Partner
Abd El Hany Mohamed Partner
Date of Establishment : 1st
January 2002
Legal Form : General
Partnership
Partners Capital : £E 60,000
Name of Partner
(s) Percentage
Mohamed Mohamed Issa 60%
Abd El Hany Mohamed 40%
Activities: Engaged in the wholesale and retail of perfumes.
Import Countries: Europe and the Far East.
Subject has a workforce of 10 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
Main Branch
Al Mahalla Al Kobra
Banque Misr
Main Branch
Al Mahalla Al Kobra
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.