MIRA INFORM REPORT

Report Date :

06.04.2011

IDENTIFICATION DETAILS

Name :	SWISSPACK FOR PRINTING AND PACKAGING SAE (REDIMPEX)

Registered Office :	49 Shehab Street, 4^th Floor, Mohandessin, P O Box 2169, Giza, Cairo

Country :	Egypt

Financials (as on) :	31.12.2010

Year of Establishment :	1985

Com. Reg. No.:	100870, Cairo

Legal Form :	Egyptian Joint Stock Company

Line of Business :	Production of paper and related products, as well as offering printing services

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 1,500,000
Status :	Good
Payment Behaviour :	No Complaints
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)

Egypt

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : SWISSPACK FOR PRINTING AND PACKAGING SAE (REDIMPEX)

Country of Origin : Egypt

Legal Form : Egyptian Joint Stock Company

Registration Date : 1985

Commercial Registration Number : 100870, Cairo

Tax Card Number : 200-182-374

Issued Capital : £E 19,464,000

Paid up Capital : £E 19,464,000

Total Workforce : 350

Activities : Production of paper and related products, as well as offering printing

services.

Financial Condition : Good

Payments : Steady

Recommended Credit Limit : US$ 1,500,00

COMPANY NAME

SWISSPACK FOR PRINTING AND PACKAGING SAE (REDIMPEX)

company ADDRESS

Registered & Physical Address

Street : 49 Shehab Street, 4^th Floor

Area : Mohandessin

PO Box : 2169, Giza

Town : Cairo

Country : Egypt

Telephone : (20-2) 33466855 / 33469522 / 33059126 / 33486855

Facsimile : (20-2) 33469523

Premises

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Cairo.

Branch Office (s)

Location Description

· 2 Arab El Tal Factory premises

Tamoun

Hawamdeya

6^th of October City

Tel: (20-2) 38115103

Fax: (20-2) 38113398

· Petrochemaweyat Street Warehouse premises

Margham

Amreya

Alexandria

Tel: (20-3) 2020322

· 11 El Dobbat Building Office premises

Moustafa Kamel Street

Ramleh

Alexandria

Tel: (20-3) 5461132

Fax: (20-3) 5464427

KEY PRINCIPALS

Name Position

· Ashraf Ahmed Reda Abd El Khalek Zaki El Sokkary Chairman

· Abeer Ahmed El Sokkary Vice Chairman

· Ola Ahmed El Sokkary Director

· Jehan Zada Director

· Lotfy El Sayed General Manager

· Safwat Sobhi Sales Manager

· Saad El Din Mohamed Finance Manager

· Mahmoud Abd El Aziz Factory Manager

· Sameh Khater Planning Manager

· Moustafa El Sayed IT Manager

· Sanaa Gomaa Purchasing Manager

LEGAL FORM & OWNERS

Date of Establishment : 1985

Legal Form : Egyptian Joint Stock Company

Commercial Reg. No. : 100870, Cairo

Tax Card No. : 200-182-374

Issued Capital : £E 19,464,000

Paid up Capital : £E 19,464,000

Name of Shareholder (s) Percentage

· Ashraf Ahmed Reda Abd El Khalek Zaki El Sokkary 60%

· Abeer Ahmed El Sokkary 30%

· Ola Ahmed El Sokkary 10%

AFFILIATED COMPANIES

· Redimpex International Agencies & Local Services

49 Shehab Street

Mohandessin, Giza

Cairo

Tel: (20-2) 33466855 / 33449480

Fax: (20-2) 33469523

OPERATIONS

Activities: Engaged in the production of telephone directories, various types of paper, paper rolls, books, notebooks and plastic covers, stationery and office articles as well as aluminium foil and related metal products.

Subject also offers printing services, including flatbed printing, letterpress and off-set photolithography.

Import Countries: Belgium, Germany, China, India and Saudi Arabia

Export Countries: Algeria, Tunisia, Libya, Jordan, Sudan and Saudi Arabia

Brand Names: SWISSPACK REDIMPEX

Operating Trend: Steady

Subject has a workforce of approximately 350 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 96,010,685 £E 103,399780

Local sources consider subject’s financial condition to be Good.

The above financial figures are based on estimations by our local sources.

BANKERS

· National Bank of Egypt

24 Sherif Street

Cairo

Tel: (20-2) 33924175

Fax: (20-2) 33924143

· Misr International Bank (MIBANK)

14 Alfy Street

PO Box: 631

Cairo

Tel: (20-2) 25931002

Fax: (20-2) 25912306

· American Express Bank

Mohandessin

Cairo

Tel: (20-2) 33608228

Fax: (20-2) 33608227

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

Date of transaction February 2003

Credit amount 270,000

Amount overdue 0

Payment terms 60 days

Payment Method Letters of Credit

Paying record No Complaints

Currency US Dollars

GENERAL COMMENTS

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.45
UK Pound	1	Rs.71.59
Euro	1	Rs.63.01

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

SUMMARY

COMPANY NAME

company ADDRESS

Registered & Physical Address

Premises

KEY PRINCIPALS

LEGAL FORM & OWNERS

Name of Shareholder (s) Percentage

AFFILIATED COMPANIES

OPERATIONS

FINANCIAL DATA

BANKERS

PAYMENT HISTORY

Date of transaction February 2003

GENERAL COMMENTS

Unit