MIRA INFORM
REPORT
|
Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MASS FOOD SAE |
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Registered Office : |
3rd
Industrial Zone, Plot No. 43/44, P O Box 12451, 6th of October
City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1996 |
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Com. Reg. No.: |
25070 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of breakfast cereals and cereal snack bars |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Egypt |
a2 |
a2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company Name : MASS FOOD SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1996
Commercial Registration Number : 25070
Tax Card Number : 200-098-535
Issued Capital : £E 15,000,000
Paid up Capital : £E 15,000,000
Total Workforce : 270
Activities : Manufacturers of breakfast cereals and cereal snack bars.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY
NAME
MASS FOOD SAE
company
ADDRESS
Registered & Physical
Address
Location : 3rd Industrial Zone,
Plot No. 43/44
PO Box : 12451
Town : 6th of October City
Country : Egypt
Telephone : (20-2) 38333001 / 38333002 / 38333005
/ 38334052 / 38334035
Facsimile : (20-2) 38333004 / 38334054 /
38333383
Premises
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of 6th of October City.
KEY
PRINCIPALS
Name Position
·
Alaa
Mohamed Mohsen El Bahy Chairman
·
Mohamed
Youssry Mohamed Shehata General
Manager
·
Mohamed
Abdou Financial
Manager
·
Youssef
Serry Sales
Manager
·
Ahmed
El Shafei Marketing
Manager
·
Tamer
Alaa El Bahy Business
Development Manager
·
Taher
Said Hafez Purchasing
Manager
·
Khaled
Nabil El Qadi Factory
Manager
·
Sayed
Galal Human
Resources Manager
·
Ahmed
El Gouhary IT
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 1996
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 25070
Tax Card No. : 200-098-535
Issued Capital : £E 15,000,000
Paid up Capital : £E 15,000,000
Name of Shareholder (s) Percentage
·
Alaa
Mohamed Mohsen El Bahy 55%
·
Ahmed
Abd El Kader El Monairy 40%
·
Tamer
Alaa Mohamed El Bahy 5%
OPERATIONS
Activities: Engaged in the manufacture of breakfast
cereals and cereal snack bars.
Export
Countries: Germany,
Netherlands, Saudi Arabia, Japan, Tunisia, Lebanon, Australia and the United
States of America.
Brand Names: TEMMYS
Operating Trend: Steady
Subject has a workforce
of approximately 270 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 39,716,000 £E 51,029,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Export
Development Bank of Egypt
108 Mohi El Din Abu El Ezz Street
Mohandessin
Cairo
11111
Tel:
(20-2) 33619005 / 33385877
Fax:
(20-2) 33385940 / 33385938
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.92 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.