MIRA INFORM REPORT

 

 

Report Date :           

02.12.2011

 

IDENTIFICATION DETAILS

 

Name :

GREATER CAIRO FOUNDRIES CO SAE

 

 

Registered Office :

Industrial Zone, Plot No. 28, Abbasseya, P O Box 1247, Cairo

 

 

Country :

Egypt

 

 

Year of Establishment :

1984

 

 

Com. Reg. No.:

274356, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of casting products, ductile iron fittings, flanged pipes, valves, couplings and adapters

 

 

No. of Employees :

200 Persons

 

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$ 700,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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                                     : GREATER CAIRO FOUNDRIES CO SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1984

Commercial Registration Number                        : 274356, Cairo

Industrial Registration Number                 : 4030

Issued Capital                                        : £E 11,000,000

Paid up Capital                                      : £E 11,000,000

Total Workforce                                     : 200

Activities                                               : Manufacturers of casting products, ductile iron fittings, flanged pipes,

                                                              valves, couplings and adapters.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 700,000

 

COMPANY NAME

 

GREATER CAIRO FOUNDRIES CO SAE

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Industrial Zone, Plot No. 28, Abbasseya

PO Box             : 1247

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 26857517

Facsimile          : (20-2) 26857517

Mobile               : (20-10) 5395231

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Building 4W, Square 1226                                                                  Office premises

Sheraton Residence

Heliopolis

Cairo

Tel: (20-2) 22692562

Fax: (20-2) 22672700

 

·       Anshas Desert Road                                                                         Factory premises

Belbeis

Sharkeya

Tel: (20-55) 2642031

Fax: (20-55) 2642030

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Bahy El Din El Sayed El Ashram                                                        Chairman

 

·       Sherif El Sayed El Ashram                                                                 Director

 

·       Ahmed El Sayed El Ashram                                                               Director

 

·       Magdy Mohamed Gamal El Din                                                          Factory Manager

 

·       Tamer Hussein Shalaby                                                                     Export Manager

 

·       Modar Gharib                                                                                    Purchasing Manager

 

·       Ragaa Iskandar                                                                                 Administration Manager

 

·       Mohamed Ibrahim                                                                              Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1984

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 274356, Cairo

 

Industrial Reg. No.       : 4030

 

Issued Capital              : £E 11,000,000

 

Paid up Capital            : £E 11,000,000

 

Name of Shareholder (s)

 

·       Bahy El Din El Sayed El Ashram

 

·       Sherif El Sayed El Ashram

 

·       Ahmed El Sayed El Ashram

 

·       Local businessmen and private investors

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of casting products, ductile iron fittings, flanged pipes, valves, couplings and adapters.

 

Production Capacity: 10,000 tons per year.

 

Import Countries: Europe, South Africa, India, China and the United States of America.

 

Export Countries: Algeria, Yemen, Syria, Lebanon and Saudi Arabia.

 

Subject has a workforce of approximately 200 employees.

 

 

FINANCIAL DATA

 

Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Al Baraka Bank Egypt SAE

60 Mohie Elddin Abu El Ezz Street

Dokki

Cairo

Tel: (20-2) 37481222

Fax: (20-2) 37611436

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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.51.65

UK Pound

1

Rs.81.06

Euro

1

Rs.69.51

 

 

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

----

NB

New Business

----

 

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.