MIRA INFORM REPORT
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Report Date : |
10.12.2011 |
IDENTIFICATION DETAILS
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Name : |
AL SINDIAN PAPER MILL CO SAE |
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Registered Office : |
4th Industrial
Zone, Plot No. 49/50/51, Street No. 53, Giza, 6th of October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
April 2004 |
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Com. Reg. No.: |
5375 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Producers of paper and paper products |
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No. of Employees
: |
100 persons |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 3,000,000 |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Egypt |
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 : AL SINDIAN PAPER MILL CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : April 2004
Commercial Registration Number : 5375
Tax Card Number : 200-836-498
Issued Capital : £E 100,000,000
Paid up Capital : £E 100,000,000
Total Workforce : 100
Activities : Producers of paper and paper products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 3,000,000
COMPANY NAME
AL SINDIAN PAPER MILL CO SAE
company ADDRESS
Registered & Physical
Address
Location : 4th Industrial Zone,
Plot No. 49/50/51, Street No. 53
Area : Giza
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38330960 / 38331922 / 38285811
Facsimile : (20-2) 38330747
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Elia
Nuqul Chairman
·
Fawzy
Ibrahim Nuqul Managing
Director
·
Lina
Elia Nuqul Director
·
Ghassan
Elia Nuqul Director
·
Marwan
Elia Nuqul Director
·
Magdy
George General
Manager
·
Ossama
Saleh Finance
Manager
·
Ashraf
Dardyr Accounts
Manager
·
Ahmed
Essam Sales
Manager
·
Hesham Noufal Purchasing
Manager
·
Mohamed
Abd El Wahid Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : April 2004
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 5375
Tax Card No. : 200-836-498
Issued Capital : £E 100,000,000
Paid up Capital : £E 100,000,000
Name of Shareholder
(s) Percentage
·
Elia
Nuqul & family 72.5%
·
Fine
for Sanitary Paper Industry 22.5%
Amman
Jordan
·
Ghassan
Elia Nuqul 5.0%
AFFILIATED COMPANIES
·
Al
Bardi Paper Mill Co SAE
OPERATIONS
Activities: Engaged in the production of paper and
paper products.
Production
Capacity: 54,000 tonnes per
annum
Import
Countries: Europe and the
Far East.
Export
Countries: Saudi Arabia,
Cyprus, Sudan, Iran, United Arab Emirates and the United Kingdom.
Operating Trend: Steady
Subject has a
workforce of 100 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 334,414,141 £E 353,277,964
Local sources
consider subject’s financial condition to be Good.
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
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
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UK Pound |
1 |
Rs.81.55 |
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Euro |
1 |
Rs.69.60 |
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 |
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NB |
New Business |
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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.