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Report No. : |
346299 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SIERRA ENGINEERING & CONTRACTING |
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Registered Office : |
12A Hassan Sabry Street, Zamalek, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
04.05.2008 |
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Com. Reg. No.: |
32057 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of water pipeline and fittings, mechanical
pipe joining systems and valves. |
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No. of Employees : |
30 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
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 |
Company Name :
SIERRA ENGINEERING & CONTRACTING
Country of Origin :
Egypt
Legal Form :
Limited Liability Company
Registration Date :
4th May 2008
Commercial Registration Number :
32057
Issued Capital :
£E 4,000,000
Paid up Capital :
£E 4,000,000
Total Workforce :
30
Activities :
Manufacturers of water pipeline and fittings, mechanical pipe joining
systems and valves.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
SIERRA ENGINEERING & CONTRACTING
Registered &
Physical Address
Street : 12A Hassan
Sabry Street
Area : Zamalek
Town : Cairo
Country : Egypt
Telephone : (20-2) 27383222
/ 27369909
Mobile : (20-100)
9024180
Email : info@sierra-eg.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
Masaken Sheraton Office
premises
Al Matar
Heliopolis
Cairo
Inshas Factory
premises
Bilbeis
Sharkeya
Name Position
Sherif Bahi El Din El Said Al Ashram Managing
Director
Mervat Ahmed Hassan Finance
Manager
Ahmed Kamel Applications
Manager
Taghreed Rabia Operations
Manager
Mahmoud Mohamed Ahmed Mohamed Branch
Manager
Date of Establishment : 4th
May 2008
Legal Form : Limited Liability
Company
Commercial Reg. No. : 32057
Issued Capital : £E 4,000,000
Paid up Capital : £E 4,000,000
Name of
Shareholder (s) Percentage
Sherif Bahi El Din El Said Al Ashram 65%
Members of Mr Sherif Bahi El Din El Said Al Ashram’s family 35%
Activities: Engaged in the manufacture of water pipeline and fittings, mechanical
pipe joining systems and valves.
Import Countries: Germany, Italy, Spain, Poland and China
International Suppliers:
Sigma Fluid SRL Italy
Sigeval Spain
Silesian Poland
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
14,000,000 £E
15,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
HSBC Bank
Mohandessin
Giza
Cairo
National Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Sierra Engineering
& Contracting” and not “Seirra Engineering & Contracting”
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
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Indian Rupees |
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US Dollar |
1 |
Rs.65.15 |
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1 |
Rs.100.54 |
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Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.