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Report No. : |
339659 |
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Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
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Name : |
LIVING IN INTERIORS |
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Registered Office : |
Plot No. 202, Sector No. 2, Street No. 90, 5th
Settlement, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment
: |
1992 |
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Com. Reg. No.: |
79838 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject
is engaged in the import, distribution and retail of deluxe residential and
office furniture decorations, accessories, carpets and antiques. Subject also
provides interior design services, interior and exterior civil works
contracting and after service maintenance. |
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No. of Employees : |
350 |
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
|
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 |
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.
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Source
: CIA |
Company Name : LIVING
IN INTERIORS
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 1992
Commercial
Registration Number : 79838
Issued Capital : £E
150,000,000
Paid up Capital : £E
150,000,000
Total Workforce :
350
Activities :
Interior design contracting services as well as
suppliers of decorative
items
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Maged Tadrous,
Chief Financial Officer
LIVING IN INTERIORS
Location : Plot No. 202, Sector No. 2
Street : Street No. 90
Area : 5th Settlement
Town : Cairo
Country : Egypt
Telephone : (20-2) 27262020 / 27262021
Facsimile : (20-2) 27262022
Email : info@livingin.com
Please note that
subject’s previous address was, 44 El Hassan Street,
off El Marwa Street, Dokki, Giza, Cairo.
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Abu Rawash Industrial Area Rented
showroom premises
Pyramids,
Giza
Cairo
Tel: (20-2)
35390884 / 35390883
Fax: (20-2)
35390882
Name Position
·
Ashraf Ashraf Saad El Tanani Managing
Partner
·
Alia El Tanani Partner
·
Ahmed Farid Finance Manager
·
Hazem Mohsen Purchasing
Manager
·
Khaled
Ghanem Project
Manager
·
Rania Sobhy Marketing Manager
·
Reem
Hassan Import
Manager
·
Maged
Tadrous Chief
Financial Officer
Date of Establishment : 1992
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 79838
Tax Card No. : 100-412-289
Issued Capital : £E 150,000,000
Paid up Capital : £E 150,000,000
·
Ashraf Ashraf Saad El Tanani
·
Alia El Tanani
·
Arabian Co For Wood Industries (ARCO)
Plot No. 202, Sector No. 2
Street No. 90
5th Settlement
Cairo
Tel: (20-2) 27262020 / 27262021
Fax: (20-2) 27262022
Activities: Engaged in the
import, distribution and retail of deluxe residential and office furniture
decorations,
accessories, carpets and antiques. Subject also provides
interior design services, interior and exterior civil works contracting and
after service maintenance.
Import
Countries: Spain, France,
Italy, India, China and the United States of America.
Brand Names: BAKER, STEELCASE,
RALPH LAUREN, ARMANI CASA, ASTEC and CHRISTOPHER GUY
Operating Trend: Steady
Subject has a
workforce of approximately 350 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 116,200,000 £E 120,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures were
provided by Mr Maged Tadrous, Chief Financial Officer
·
Misr
International Bank (MIBANK)
14 Alfy Street
PO Box: 631
Cairo
Tel: (20-2) 35931002
Fax: (20-2) 35912306
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.66.61 |
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UK Pound |
1 |
Rs.102.30 |
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Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
VNT |
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.