MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARABCAPS SAE |
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Registered Office : |
6 Ahmed Shaker Street, Heliopolis, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
44199, Kafr El Sheikh |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of Caps for Pharmaceutical Products |
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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Maximum Credit Limit : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ARABCAPS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2000
Commercial Registration Number : 44199, Kafr El Sheikh
Issued Capital : £E 100,000,000
Paid up Capital : £E 30,000,000
Total Workforce : 75
Line of Business : Manufacturers of caps for pharmaceutical products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ARABCAPS SAE
ADDRESS
Registered & Physical Address
Street : 6 Ahmed
Shaker Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 24148529
Facsimile : (20-2)
22918390
Email : ramy_hendway@hotmail.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· Baltin Industrial
Area Factory
premises
Kafr El Sheikh
KEY PRINCIPALS
· Sayed Abdul Nabi
El Bali Managing
Director
· Sahl Mursi El
Damrawi Director
· Dr Ramy Hendawy Technical
Manager
· Eman El Husseny Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2000
Legal Form : Societe Anonyme
Egyptienne - SAE (Egyptian Joint Stock
Company)
Commercial Reg.
No. : 44199, Kafr El Sheikh
Issued Capital : £E 100,000,000
Paid up Capital : £E 30,000,000
Name of Shareholder (s)
· Sayed Abdul Nabi
El Bali
· Sahl Mursi El
Damrawi
· Local businessmen
and private investors
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe Anonyme
Egyptienne - SAE – should not be less than £E 500,000 if shares are offered to
the public and £E 250,000 if not. If shares are offered to the public they are
freely transferable, if not, transfer may be restricted. Liability of
shareholders is limited.
LINE OF BUSINESS
Operations : Engaged in the manufacture of caps for
pharmaceutical products.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 75 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pound (£E)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue £E
28,600,000 £E
34,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Misr International Bank (MIBANK)
14 Alfy Street
PO Box :
631
Cairo
Tel :
(20-2) 25931002
Fax :
(20-2) 25912306
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Established in 2000, subject is involved in the manufacture of caps for
pharmaceutical products.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
Maximum suggested credit figure: US$ 250,000
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)