MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
TCI SANMAR CHEMICALS LLC |
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Formerly Known as : |
TRUST CHEMICAL INDUSTRIES |
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Registered Office : |
111 El Thawra Street, 5th Floor, Apartment No. 601, Heliopolis,
Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
2001 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture and Export of Basic
Chemical Products |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TCI SANMAR CHEMICALS LLC
Previously Known As : TRUST CHEMICAL INDUSTRIES
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2001
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 600
Line of Business : Manufacture and export of basic chemical products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
TCI SANMAR CHEMICALS LLC
PREVIOUSLY KNOWN AS
TRUST CHEMICAL INDUSTRIES
ADDRESS
Registered & Physical Address
Street : 111 El Thawra Street, 5th Floor, Apartment No.
601
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 24142686 / 26904801
Facsimile : (20-2) 24100066 / 24142686
Premises
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
· Industrial
Zone No. 92, South of El-Raswa, Plot 9c Owned
factory premises
Port Said
Tel: (20-66) 3778002 / 3778004 / 3778005
Fax:
(20-66) 3778003
KEY PRINCIPALS
· Mohamed
El Kazaz Finance
Manager
· Hany
Sedky Accounts
Manager
· Mohamed
El Sayed Sales
Manager
· George
Attallah Purchasing
Manager
· Wessam
Mahmoud Export
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2001
History : Subject was
originally established in 2001 under the name of “Trust
Chemical Industries”. However, in March 2007 subject was
acquired
by the Sanmar Group and later in the year
changed the name to the
current style of “TCI Sanmar
Chemicals LLC”
Legal Form : Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership)
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Name of Partner (s)
· Sanmar Group
Chennai
India
LINE OF BUSINESS
Operations : Engaged in the
manufacture and export of basic chemical products, including
sodium hydroxide, poly aluminium chloride, hydrochloric
acid and caustic soda.
Import Countries : China and the Far East.
Export Countries : Turkey, Saudi Arabia,
Germany, and the United Kingdom
Subject has a workforce of approximately 600 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
·
National Bank of Egypt
52 El Gomhouria
Street
Port Said
Tel : (20-66)
224816 / 226637
Fax : (20-66)
327008
·
Commercial International Bank (CIB)
El Gomhouria Street
Port Said Free Zone
Port Said
Tel : (20-66) 336801
Fax : (20-66) 325956
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
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 within subject’s financial means.
Maximum suggested credit figure: US$ 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%)