MIRA INFORM REPORT

 

 

Report Date :

23.04.2011

 

 

 

Tel. No.:

+2 02 338 22 425/+2 02 338 91 260

Fax No.:

+2 02 338 22 1278

 

IDENTIFICATION DETAILS

 

Name :

SOCIETE NATIONALE D’INDUSTRIES NUTRITIVES SAE (SONAT)

 

 

Registered Office :

Samy Saad Complex, 8 El Mansoureya Road, Pyramids, P O Box 686, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment : 

1995

 

 

Com. Reg. No.:

1019

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Processors and distributors of soft drinks

 

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

 

Maximum Credit Limit :

US$ 850,000

Status :

Satisfactory

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

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                    : SOCIETE NATIONALE D’INDUSTRIES NUTRITIVES SAE (SONAT)

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 1995

Commercial Registration Number           : 1019

Tax Card Number                                  : 100-249-760

Issued Capital                                       : £E 36,000,000

Paid up Capital                                     : £E 36,000,000

Total Workforce                                     : 1,415

Activities                                               : Processors and distributors of soft drinks

Financial Condition                                : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Recommended Credit Limit                    : US$ 850,000

 

 

 

COMPANY NAME

 

SOCIETE NATIONALE D’INDUSTRIES NUTRITIVES SAE (SONAT)

 

 

company ADDRESS

 

Registered & Physical Address

Building                        : Samy Saad Complex

Street               : 8 El Mansoureya Road

Area                 : Pyramids

PO Box                        : 686

Town                : Cairo

Country             : Egypt

Telephone         : (20-2) 33822425 / 33822427 / 33848484 / 33891226

Facsimile          : (20-2) 33891277 / 33821784 / 33868686 / 33891234

 

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

 

·       5th Industrial Zone                                                                             Factory premises

Regional Road

Sadat City

Menoufeya

Tel: (20-48) 3602547 / 3602548

Fax: (20-48) 3602551

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Bassel Sami Saad                                                                            Chairman

 

·       Sami Edwar Hanna                                                                           Vice Chairman

 

·       Saleh Abd El Aziz                                                                             Director

 

·       Ahmed Shoukry Mehana                                                                   General Manager

 

·       Sherif Fouad                                                                                                Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1995

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 1019

 

Tax Card No.                : 100-249-760

 

Issued Capital              : £E 36,000,000

 

Paid up Capital            : £E 36,000,000

 

Name of Shareholder (s)                                         Percentage

 

·       Afaf Farag Youssef                                                  75%

 

·       Bassel Sami Saad                                                      5%

 

·       Karim Sami Saad                                                        5%

 

·       Reem Sami Saad                                                        5%

 

·       Sami Sami Saad                                                         5%

 

·       Societe Nationale D’Industries                                     5%

 

 

OPERATIONS

 

Activities: Engaged in the processing and distribution of soft drinks under licence of Cadbury International.

 

                 Subject is ISO 9002 accredited.

 

Import Countries: Italy, France and the United Kingdom

 

Brand Names: SCHWEPPES and CANADA DRY

 

Operating Trend: Steady

 

Subject has a workforce of approximately 1,415 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/08:               Year Ending 31/12/09:

 

Total Sales                                £E 123,499,175                         £E 137,757,357

 

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

 

 

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.44.30

UK Pound

1

Rs.72.92

Euro

1

Rs.64.69

 

 

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.