MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIPAK NILE LTD |
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Registered Office : |
Industrial Zone
5, Street No. 2, Giza, PO Box 46, 6th October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
860 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture
of Corrugated Packaging |
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$ 1,200,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : UNIPAK NILE LTD
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1996
Commercial Registration Number : 860
Tax Card Number : 209-830-816
Issued Capital : £E 28,280,000
Paid up Capital : £E 28,280,000
Total Workforce : 380
Activities : Manufacture of corrugated packaging
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,200,000
COMPANY NAME
UNIPAK NILE LTD
ADDRESS
Registered & Physical Address
Location : Industrial Zone 5, Street No. 2,
Giza
PO Box : 46
Town : 6th October City
Country : Egypt
Telephone : (20-2) 38164041 / 38164042 / 38164043
Facsimile : (20-2) 38164049 / 38164046
Premises
Subject operates from
a suite of offices and a factory covering an area of 15,000 square metres that
are owned and located in the Industrial Area of the 6th October City.
KEY PRINCIPALS
Name Position
·
Antoine
Frem President
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Emile
Boustany General
Manager
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Samir
Aoun Marketing
Manager
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Ahmed
El Badry Sales
Manager
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Marwan
Diab Operations
Manager
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Sami
Sfeir Accounts
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 860
Tax Card No. : 209-830-816
Issued Capital : £E 28,280,000
Paid up Capital : £E 28,280,000
Name of Shareholder (s) Percentage
·
Mohamed
Mahmoud Youssef El Shafey 95%
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Ola
Fouad Youssef El Shafey 5%
OPERATIONS
Activities: Engaged in the manufacture of
corrugated packaging for the agricultural, industrial, fast food and
promotional sectors.
Unipak Nile has achieved ISO 9001:2000 International Quality Standard
Management System
Production
Capacity: 100
million square metres per annum
Operating Trend: Steady
Subject has a
workforce of approximately 380 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales £E 209,601,435 £E
235,500,000
Local sources
consider subject’s financial condition to be Good.
BANKERS
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HSBC Bank
Egypt
Banks Area
6th of October City
Tel: (20-2) 38346600
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk and the above credit figure is within subject’s
financial means.
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%)