MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
GIZA INDUSTRIES CABLES CO |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
93325 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of Telephone
Equipment, Wires and Electric Cables |
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$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GIZA INDUSTRIES CABLES CO
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1991
Commercial Registration Number : 93325
Issued Capital : £E 80,000,000
Paid up Capital : £E 80,000,000
Total Workforce : 400
Activities : Manufacture of telephone equipment, wires and electric cables
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 600,000
COMPANY NAME
GIZA INDUSTRIES CABLES CO
ADDRESS
Registered & Physical Address
Street : 6 Ebn Malik Street
Area : Giza
PO Box : 3516
Town : Cairo
Country : Egypt
Telephone : (20-2) 37610354
/ 37610353
Facsimile : (20-2) 37610475
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
Name Position
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El Sayed Ahmed Ismail
Mohsen Chairman
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Ahmed Sayed Eissa Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 93325
Issued Capital : £E 80,000,000
Paid up Capital : £E 80,000,000
Name of Shareholder (s) Percentage
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El Sayed Ahmed Ismail
Mohsen 16.65%
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Misr Insurance 9.37%
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El Shark Insurance 9.37%
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Egyptian
businessmen & privates investors 64.61%
OPERATIONS
Activities: Engaged in the manufacture
of telephone equipment, wires and electric cables.
Import
Countries: India, Italy and
Germany
Subject has a
workforce of approximately 400 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
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Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel: (20-2) 35703043
Fax: (20-2) 35703172 / 35072691
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.83 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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%)