MIRA INFORM REPORT

 

 

Report No. :

345500

Report Date :

24.10.2015

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED AHMED ALSHOWAYMAN

 

 

Registered Office :

Block G, Free Zone Sheben El Kom, Menofeya

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

25.12.2006

 

 

Com. Reg. No.:

19218

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Engaged in the manufacture and distribution of automotive paint body filler, lacquer, varnishes, thinners and wood paint.

 

 

No. of Employees :

35

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Egypt

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                    : MOHAMED AHMED ALSHOWAYMAN

Trade Name                                          : A PLUS FOR CAR PAINTS

Country of Origin                                   : Egypt

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 25th December 2006

Commercial Registration Number           : 19218

Trade Licence Number                           : 3198

Invested Capital                                                : £E 200,000

Total Workforce                         : 35

Activities                                               : Manufacture and distribution of paints, fillers, lacquers and varnishes.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

COMPANY NAME

 

MOHAMED AHMED ALSHOWAYMAN

 

 

TRADE NAME

 

A PLUS FOR CAR PAINTS

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Block G, Free Zone Sheben El Kom

Town                : Menofeya

Country : Egypt

Telephone         : (20-48) 2329356

Facsimile          : (20-48) 2329357

Mobile              : (20-10) 3559323 / 1801041

Email                : info@aplus-coating.com

 

Premises

 

Subject operates from a medium sized suite of offices, a warehouse, workshop and a factory that are owned and located in the Free Zone Area of Menofeya.

 

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Mohamed Ahmed Al Showyman                                     Proprietor & General Manager

 

Osman Ibrahim El Tayeb                                                            Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25th December 2006

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 19218

 

Trade Licence No.        : 3198

 

Invested Capital           : £E 200,000

 

Mr Mohamed Ahmed Al Showyman is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and distribution of automotive paint body filler, lacquer, varnishes, thinners and wood paint.

 

Import Countries: Italy, Germany, United States of America and Spain

 

Export Countries: Africa and GCC countries

 

Operating Trend: Steady

 

Subject has a workforce of 35 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 127,400,000                         £E 131,000,000

 

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)

Nile Tower Building

21-23 Giza Street

PO Box: 2430

Cairo

Tel: (20-2) 25703043

Fa : (20-2) 25703172 / 25072691

 

National Bank of Egypt

Qwesna Branch

Menoufeya

Tel: (20-48) 573034

Fax: (20-48) 573171

 

 

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.64.88

UK Pound

1

Rs.99.89

Euro

1

Rs.72.06

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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