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MIRA
INFORM REPORT
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Report Date : |
10.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
MISR EDFU PULP WRITING & PRINTING PAPER CO (MEPPCO) |
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Registered Office : |
14 Gawad Hosny Street, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
20344, Aswan |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Production of White Paper Used for Printing
and Writing. |
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$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
MISR EDFU PULP WRITING
& PRINTING PAPER CO (MEPPCO)
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1995
Commercial Registration Number :
20344, Aswan
Issued Capital :
£E 488,500,000
Paid up Capital :
£E 488,500,000
Total Workforce :
700
Line of Business :
Production of white paper used for printing and
writing.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
MISR EDFU PULP WRITING & PRINTING
PAPER CO (MEPPCO)
ADDRESS
Registered & Physical Address
Location : 14 Gawad Hosny Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 23952940 / 23952942
Facsimile : (20-2) 23952941
Mobile : (20-12) 2127680
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
· Koum
El Amir Owned
factory premises
Edfu, Aswan
Tel:
(20-97) 4790905 / 4790906 / 4790907
Fax:
(20-97) 4790909
KEY PRINCIPALS
· Mohamed
Abd El Aal Kholaif Chairman
· Abd El
Badei Kormy El Bashately Managing
Director
· Ragab
El Masry Ahmed Finance
Manager
· Mahmoud
Mohamed El Rashidi Sales
Manager
· Abd El
Rahman Ahmed Factory
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1995
Legal Form : Societe Anonyme
Egyptienne – SAE (Egyptian Joint Stock
Company)
Commercial Reg.
No. : 20344, Aswan
Issued Capital : £E 488,500,000
Paid up Capital : £E 488,500,000
Name of Shareholder (s) Percentage
· Sugar
Integrated Industries 45%
· National
Investment Bank 15%
· Banque
Misr
10%
· Misr
Insurance 10%
· National
Insurance of Egypt 10%
· Al
Chark Insurance 10%
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 of white paper used for printing and writing.
Import Countries : China, Italy, United Kingdom and India.
Subject has a workforce of approximately 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
·
Bank of Alexandria
Nasr
City Branch
Cairo
Tel:
(20-2) 4012542
Fax:
(20-2) 2630464
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel : (20-2)
3912711 / 3912106
Fax : (20-2)
3919779
·
National Bank of Egypt
24, Sherif Street
Cairo
Tel :
(20-2) 3924175
Fax :
(20-2) 3924143
·
Misr International Bank (MIBANK)
61, Bahi
El Din Barakat Street
Giza
Cairo
Tel:
(20-2) 7497002 / 7497010
Fax:
(20-2) 3365395 / 6
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$ 1,000,000
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%)