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MIRA
INFORM REPORT
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Report Date : |
08.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL EZZ DEKHEILA STEEL COMPANY SAE -
ALEXANDRIA (EZDK ALEX) |
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Registered Office : |
Nefertari
Building, No. 12, Agami Road, Betash, El Dekhiela, P O Box 21537, Alexandria |
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Country : |
Egypt |
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Date of Incorporation : |
July 1982 |
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Com. Reg. No.: |
104918, Alexandria |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged
in the production and export of steel. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 3,500,000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
AL
EZZ DEKHEILA STEEL COMPANY SAE – ALEXANDRIA (EZDK
ALEX)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : July 1982
Commercial Registration Number : 104918, Alexandria
Issued Capital : £E 1,366,776,700
Paid up Capital : £E 1,366,776,700
Total Workforce : 2,700
Line of Business : Production and export of steel.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL EZZ DEKHEILA STEEL COMPANY SAE - ALEXANDRIA (EZDK ALEX)
ADDRESS
Registered & Physical Address
Building : Nefertari Building, No. 12
Street : Agami Road
Area : Betash, El Dekhiela
PO Box : 21537
Town : Alexandria
Country : Egypt
Telephone : (20-3) 3082300
/ 3082220 / 3082663
Facsimile : (20-3) 3082667
Email : ansdk@alexnet.com.eg
Premises
Subject operates
from a large suite of offices and a steel mill that are owned and located in the
Industrial Area of Alexandria.
Branch Office (s)
Location Description
·
10
Orabi Street Rented
office premises
Mohandessin,
Giza
Cairo
Tel: (20-2)
3459603
Fax: (20-2)
3459604
·
5 Salah Salem
Street Owned
sales offices
Alexandria
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Qabari Owned
warehousing facilities
Alexandria
Tel : (20-3) 4456841
KEY PRINCIPALS
·
Ahmed
Abd El Aziz Ezz Managing
Director
·
Paul
Phillip Schekeiban Director
·
Farouk
Zaki Director
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Alaa
Abu El Kheir General
Manager
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Moustafa
Kamel Brekaei Finance
Manager
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Samir
Noaman Sales
Manager
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Farouk
Ibrahim Production
Manager
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Nabil
El Khattib Purchasing
Manager
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Naser
Barakat Human
Resources Manager
LEGAL FORM & OWNERS
Date of Establishment : July 1982
(Production began in May 1986)
History : Subject was originally established in 1982
under the name of
“Alexandria National Iron & Steel Co SAE
(ANSDK)”. It changed to
its current style on 24th
May 2006.
Legal Form :
Societe Anonyme Egyptienne
– SAE (Egyptian Joint Stock
Company)
Commercial Reg. No. : 104918, Alexandria
Issued Capital : £E 1,366,776,700
Paid up Capital : £E 1,366,776,700
Name of Shareholder (s)
·
Ezz
Steel Rebars
·
Ezz
Holding Industry & Investment/Ezz Industrial Group
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National
Investment Bank
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Banque
Misr
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Egyptian
Int'l for Commercial Investment
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Misr
Insurance
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National
Bank of Egypt
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Egyptian
General Petroleum Corporation (EGPC)
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Steel
Investment Development
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Egyptian
Int'l for Industrial Investment
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Executive
Agency for Industrial
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Banque
du Caire
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Egyptian
Re-Insurance
·
Faisal
Islamic Bank of Egypt
·
Employee
Services Association
·
Employee
Insurance Fund
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
production and export of steel.
Subject is ISO 9002 & ISO 14001 accredited.
Import Countries
: Europe, United States of
America and Asia.
Export Countries
: Saudi
Arabia, Yemen, the United States, Canada, Spain, Sudan, and China.
Brand Names : EZDK
Subject has a
workforce of approximately 2,700 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Banque Misr
El Hanoville Street
Agami
Alexandria
Tel : (20-3) 4302697
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National Bank
of Egypt
21, Tosson Street
Alexandria
Tel : (20-3) 4824802 / 4825715
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel : (20-3) 4824643 / 4834255
Fax : (20-3) 4832240
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Egyptian
American Bank
14 Salah Salem Street
PO Box : 1737
Alexandria
Tel : (20-3) 4835008
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Banque du
Caire SAE
19
Adly Street
Cairo
Tel: (20-2)
3926915
Fax: (20-2)
3951713
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Al Ezz Dekheila Steel Company SAE - Alexandria (Ezdk Alex) has
been in business for over 25 years and is the largest steel producer and
exporter in Egypt with 5 mills and a 41% market share.
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 and the above credit figure is
deemed admissible.
Maximum suggested
credit figure: US$ 3,500,000
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%)