MIRA
INFORM REPORT
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Report Date : |
30.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNILEVER MASHREQ GROUP |
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Registered Office : |
Hegazy Village
Industrial Zone, Smouha, Alexandria |
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Country : |
Egypt |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
140490, Alexandria |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and Marketing of Detergents, Cleaning
Chemicals, Toilet Soaps, Shampoos and
Personal Hygiene 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$ 1,500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : UNILEVER MASHREQ GROUP
Also Known As : UNILEVER EGYPT SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1992
Commercial Registration Number : 140490, Alexandria
Issued Capital : £E 242,600,000
Paid up Capital : £E 242,600,000
Total Workforce : 500
Activities : Manufacture and marketing of detergents, cleaning chemicals, toilet soaps, shampoos and personal hygiene products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,500,000
Person Interviewed : Nailesh Talti, Finance Manager
COMPANY NAME
UNILEVER MASHREQ
GROUP
ALSO KNOWN AS: UNILEVER EGYPT SAE
ADDRESS
Registered & Physical Address
Location : Hegazy Village Industrial Zone,
Smouha
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4275770 / 4273227 / 4227812 /
4273241 / 4278158
Facsimile : (20-3) 4194125
/ 4227813 / 4278199 / 4278168
Email : sherinsabery@unilever.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Office
(s)
Location Description
·
15 Sphinx
Square Office
premises
Mohandessin, Giza
Cairo
Tel: (20-2) 3454580 / 3454808 / 3452341
Fax: (20-2) 3454582 / 3454580
·
Giza Factory
premises
Sixth of October City
Tel: (20-2) 8330585 / 8331065
Fax: (20-2) 8330343
·
1st
Industrial Zone, Block 9 Factory
premises
Borg El Arab
Alexandria
Tel: (20-3) 4591381 / 4591382 / 4591383
Fax: (20-3) 4593054
KEY PRINCIPALS
Name Position
·
Mrs
Hosna Mohamed Rachid Chairperson
·
Khaled Fayed General
Manager
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Nailesh
Talti Finance
Manager
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Ahmed
Hassain Production
Manager
·
Essam
Al Awah Technical
Manager
·
Emad
Mostafa Sales
Manager
·
Gazayeli
Ashraf Marketing
Manager
·
Ms
Neshwa Mehnn Human
Resources Manager
LEGAL FORM & OWNERS
Date of Establishment : 1992
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 140490,
Alexandria
Authorised
Capital : £E 292,400,000
Issued Capital : £E 242,600,000
Paid up Capital : £E 242,600,000
Name of Shareholder (s) Percentage
·
Unilever Plc 60%
United Kingdom
·
Rational
Group 40%
Egypt
OPERATIONS
Activities: Manufacture and marketing of detergents,
cleaning chemicals, toilet soaps, shampoos and personal
hygiene products.
Import
Countries: United Kingdom,
South Africa and the United States of America
Export
Countries: Subject exports
throughout the Middle East
Brand Names: OMO
Subject has a
workforce of approximately 500 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
·
Banque Misr
El Hanoville Street
Agami
Alexandria
Tel : (20-3) 4302697
·
Misr International
Bank (MIBANK)
33, Safia Zaghloul Street
Raml Station
Alexandria
Tel : (20-3) 4828174 / 4828213
Fax
: (20-3) 4838216
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel : (20-3) 4824643 / 4834255
Fax : (20-3) 4832240
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction November
2005
Credit amount 271,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Unilever Egypt SAE
was established in 1992 and specialises in the manufacture and marketing of
detergents, cleaning chemicals, toilet soaps, shampoos and personal hygiene products.
The company is run in a professional manner and is a leading concern in the
Egyptian domestic detergent market.
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
deemed admissible.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.94 |
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UK Pound |
1 |
Rs.85.57 |
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Euro |
1 |
Rs.67.79 |
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%)