MIRA INFORM
REPORT
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Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
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Name : |
UNILEVER MASHREQ PERSONAL CARE SAE |
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Registered Office : |
4th Industrial Zone, Plot 16 & 17, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1993 |
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Com. Reg. No.: |
3920 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of personal care products and cosmetics |
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$ 2,000,000 |
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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
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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 : UNILEVER MASHREQ PERSONAL CARE SAE
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1993
Commercial Registration Number : 3920
Tax Card Number : 706-012-364
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 300
Activities : Manufacture of personal care products and cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 2,000,000
Person Interviewed : Ismail Saif, Finance Manager
COMPANY
NAME
UNILEVER MASHREQ PERSONAL CARE SAE
company
ADDRESS
Registered & Physical Address
Location : 4th Industrial Zone, Plot 16 &
17
Area :
Town : Sixth of
Country : Egypt
Telephone : (20-2) 38330585
Facsimile : (20-2) 38345088
Email : mostafa.farouk@unilever.com / ghada.osman@unilever.com
Premises
Subject operates
from a large suite of offices and a factory that are leased and located in the
Industrial Area of the Sixth of October City.
Factory
address
Location Industrial Zone,
City 14th
May Bridge,
Area Smoutha Sidi
Gaber, Alexandria,
Country Egypt
Telephone: 203-4278158
Fax: 203-4253787
KEY
PRINCIPALS
Name Position
·
Hosna Mohamed Rachid Chairman
·
Khaled Fayed Managing
Director
·
Ashraf El Gazayerly Director
·
Nashwa
Mehanna Director
·
Abd El Meguid Mohamed General
Manager
·
Ismail
Saif Finance
Manager
·
Ahmed
Gadoos Operations
Manager
·
Sameh
Sabri Factory
Manager
·
Ashraf
El Gwuihry Commercial
Manager
·
Mohamed Hashem Administration
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 1993
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 3920
Tax Card No. : 706-012-364
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Name of Shareholder (s) Percentage
·
Unilever
Plc 60%
·
Rational International Enterprises Ltd 40%
OPERATIONS
Activities: Engaged in the manufacture of personal care
products and cosmetics, including shampoo, toothpaste,
shower gel, skincare creams and lotions, as well as surfactants and
sequestering agents.
Subject’s activities are conducted under license of Unilever Plc of the
Import
Countries:
Brand Names: SUN SILK,
COMFORT, LUX, UNILEVER, SIGNAL, CLOSE UP and REXONNA.
Operating Trend: Steady
Subject has a
workforce of approximately 300 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 84,250,000 £E 88,700,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
PO Box: 2430
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Citibank
Tel: (20-2) 33551877 / 33551874
Fax: (20-2) 33558056
PAYMENT
HISTORY
No complaints regarding
subject’s payments have been reported.
Date of transaction March
2005
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
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|
1 |
Rs.72.26 |
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Euro |
1 |
Rs.63.90 |
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 |
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 |
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.