MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
NILE WATERPROOFING MATERIALS SAE |
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Registered Office : |
50 Al Khalifa Al
Mamoun Street, Roxy, Heliopolis, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
2000 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and Export of
Roofing and Waterproofing Bituminous Membranes as well as Thermal Insulation Boards
for Construction and Civil Engineering Works. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NILE WATERPROOFING MATERIALS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2000
Authorised Capital : £E 30,000,000
Issued Capital : £E 12,850,000
Paid up Capital : £E 12,850,000
Total Workforce : 300
Activities :
Manufacture and export of roofing and waterproofing
bituminous
membranes as well as thermal insulation
boards for construction & civil
engineering works.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
COMPANY NAME
NILE WATERPROOFING
MATERIALS SAE
ADDRESS
Registered & Physical Address
Street : 50 Al Khalifa Al Mamoun Street
Area : Roxy, Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 24511194
/ 24511195 / 23816804
Facsimile : (20-2) 24511198
Premises
Subject operates
from a large suite of offices that are rented and located in the Suburban
Business Area of Cairo.
Branch Office (s)
Location Description
·
Margham,
Al Max Owned
factory
Borg El Arab
Alexandria
Tel: (20-12)
3999741
KEY PRINCIPALS
Name Position
·
Hesham
El Banhawi Managing
Director
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Mohamed
Al Zamel Director
·
Mohamed
Mohie El Din Director
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Golirdo
Lorenzon Director
·
Adel
Gaafer Finance
Manager
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Mohamed
El Henawy Marketing
Manager
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Ehab
Ibrahim Accounts
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2000
Legal Form :
Egyptian Joint Stock
Company
Authorised
Capital : £E 30,000,000
Issued Capital : £E 12,850,000
Paid up Capital : £E 12,850,000
Name of Shareholder (s)
·
Alexandria
Speciality Petroleum Products (ASPPC)
Egypt
·
Novaglass
Italy
·
Hesham
El Banhawi
·
Mohamed
Al Zamel
OPERATIONS
Activities: Engaged in the manufacture
and export of roofing and waterproofing bituminous membranes (modified with
Atactic Polypropylene & Styrene Butadene Styrene Extruded Polystyrene) , as
well as thermal insulation boards for construction & civil engineering
works.
Import Countries: Italy, United States of America and India.
Subject has a
workforce of approximately 300 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
·
Arab Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 3029069 / 3029070
Fax: (20-2) 3029068
·
National Bank
of Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction February
2007
Credit amount 13,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
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.
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%)