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Report No. : |
339943 |
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Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ABOU EL ELAA
COMPANY FOR IMPORT & EXPORT |
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Registered Office : |
El Dingat, Abou Samaada, Beheira |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
7012, Beheira |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Dried Foodstuffs, Including Spices and
Herbs. |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 : ABOU EL
ELAA COMPANY FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 2005
Commercial
Registration Number : 7012, Beheira
Issued Capital : £E
50,000
Paid up Capital : £E 50,000
Total Workforce : 18
Activities :
Distributors
of dried foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ABOU EL ELAA
COMPANY FOR IMPORT & EXPORT
Location : El Dingat, Abou Samaada
Town : Beheira
Country : Egypt
Telephone : (20-45) 3605369
Facsimile : (20-45) 3605369
Mobile : (20-100) 1140664 / (20-109)
9922488
Email : info@abouelelaa.com / taheritrader@gmail.com
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Suburban Business Area of Beheira.
Name Position
·
Karm Mohamed Ahmed Abou El Elaa Managing
Partner
·
Mohamed Mohamed Ahmed Abou El Elaa Partner
Date of Establishment : 2005
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 7012, Beheira
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
·
Karm Mohamed Ahmed Abou El Elaa
·
Mohamed Mohamed Ahmed Abou El Elaa
Activities: Engaged in the import and
distribution of dried foodstuffs, including spices and herbs.
Import
Countries: India, Sri Lanka
and China.
Operating Trend: Steady
Subject has a
workforce of 18 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 9,000,000 £E 9,380,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
Baroud District
Beheira
Tel: (20-45) 432889
·
Suez
Canal Bank
Alexandria
No complaints
regarding subject’s payments have been reported.
Please note that we
were unable to make direct contact with the subject during the course of this
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
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Report Prepared
by : |
NIT |
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 |
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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 |
|
|
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 |
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|
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.