MIRA INFORM
REPORT
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Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
1st Industrial
Zone, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
304035, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Production of dairy products |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name :
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1998
Commercial Registration Number : 304035,
Tax Card Number : 324-957-009
Authorised Capital : £E 50,000,000
Issued Capital : £E 16,000,000
Paid up Capital : £E 16,000,000
Total Workforce : 280
Activities : Production of dairy products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
company ADDRESS
Registered & Physical Address
Location : 1st Industrial Zone,
Area :
Town :
Country :
Telephone : (20-2) 46101017 / 46101015 / 46101019
/ 46101016
Facsimile : (20-2) 46101018
Email : info@obourland.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Mohamed Hamed Sherif Chairman
·
Ashraf Mohamed Hamed Sherif Vice
Chairman
·
Rasha
Mohamed Hamed Director
·
Ayman
Mohamed Hamed Director
·
Samia
El Kafrawy Director
·
Ghada
Mohamed Hamed Director
·
Abeer
Mohamed Hamed Director
·
Fathi
Said Director
·
Dr Hatem Awani Sales
Manager
·
Nasser
Zowail Finance
Manager
·
·
Adel
Abd El Aziz Administration
Manager
·
Ahmed
Hussein Quality
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 304035,
Tax Card No. :
324-957-009
Authorised
Capital : £E 50,000,000
Issued Capital : £E 16,000,000
Paid up Capital : £E 16,000,000
Name of Shareholder
(s) Percentage
·
Mohamed Hamed Sherif 50%
·
Ashraf Mohamed Hamed Sherif 15%
·
Ayman
Mohamed Hamed 15%
·
Rasha Mohamed
Hamed 5%
·
Samia
El Kafrawy 5%
·
Ghada
Mohamed Hamed 5%
·
Abeer
Mohamed Hamed 5%
OPERATIONS
Activities: Engaged in the production of dairy
products, specialising in processed, feta and white cheeses.
Import
Countries:
Brand Names:
Operating Trend: Steady
Subject has a
workforce of approximately 280 employees.
FINANCIAL DATA
Financial highlights
provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E 31,000,000 £E 36,515,160
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of
Tel: (20-2) 33924175
Fax: (20-2) 33924143
·
Export
Development Bank of
1st District Centre
Group D
Sharkeya
10th of
Tel: (20-15) 367203
Fax: (20-15) 362638 / 362639
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction July
2004
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
|
|
1 |
Rs.71.59 |
|
Euro |
1 |
Rs.63.01 |
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 |
|
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 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.