MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MISR OCTOBER FOR FOOD INDUSTRY |
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Registered Office : |
3rd
Industrial Zone, Plot 56/57, Giza, 6th of October City |
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Country : |
Egypt |
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Date of Incorporation : |
1984 |
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Com. Reg. No.: |
282 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Production and Export of Dairy
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$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MISR OCTOBER FOR FOOD INDUSTRY
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1984
Commercial Registration Number : 282
Issued Capital : £E 61,500,000
Paid up Capital : £E 61,500,000
Total Workforce : 650
Activities : Production and export of dairy products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 750,000
COMPANY NAME
MISR OCTOBER FOR
FOOD INDUSTRY
ADDRESS
Registered & Physical Address
Location : 3rd
Industrial Zone, Plot 56/57, Giza
Town : 6th
of October City
Country : Egypt
Telephone : (20-2) 38336456
/ 38336457 / 38341452 / 38339602 / 38339741
Facsimile : (20-2) 38336171
Email : info@elmisrieen.com
Premises
Subject operates from
a large suite of offices and a factory that are owned and located in the
Industrial Area of the 6th of October City.
KEY PRINCIPALS
Name Position
·
Hatem
Nowira Managing
Director
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Abbass
Zaki Director
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Moustafa
Kamal General
Manager
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Hazem
Sherif Finance
Manager
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Mahmoud
Dessouky Accounts
Manager
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Mohamed
Nabil El Shinawy Sales
Manager
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Ahmed
Adel Khalil Marketing
Manager
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Ahmed
Hazem Hosni Production
Manager
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Gamal
Abd El Halim Factory
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1984
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 282
Issued Capital : £E 61,500,000
Paid up Capital : £E 61,500,000
Name of Shareholder (s)
·
Hatem
Nowira
·
Abbass
Zaki
OPERATIONS
Activities: Engaged in the
production and export of dairy products, including ghee, milk, yoghurt and
cheese
(especially fresh cheese, domiatti cheese, feta cream and
old salted cheese), as well as natural fruit juices.
Import
Countries: India and Europe
Export
Countries: Morocco, Libya, Kuwait, Jordan, Saudi Arabia, Yemen, United
Arab Emirates and Israel.
Brand Names: MISRIEEN, COOL,
& El-MISRIEEN
Subject has a
workforce of approximately 650 employees.
FINANCIAL DATA
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
·
Commercial
International Bank (CIB)
Plot No. 1/1, Giza
6th of October City
Tel: (20-2) 38330620
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
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%)