MIRA INFORM REPORT

 

 

Report Date :

23.02.2011

 

IDENTIFICATION DETAILS

 

Name :

AL AHRAM ESTABLISHMENT

 

 

Registered Office :

Al Ahram Building, Al Galaa Street, Cairo 11511

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.12.1875

 

 

Com. Reg. No.:

1875, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Printers and publishers of books, magazines, journals and trade directories

 

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$ 2,500,000

 

 

Status :

Good

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                                     : AL AHRAM ESTABLISHMENT

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 27th December 1875

Commercial Registration Number                        : 1875, Cairo

Issued Capital                                        : £E 150,000,200

Paid up Capital                                      : £E 150,000,200

Total Workforce                                     : 12,000

Activities                                               : Printers and publishers of books, magazines, journals and trade

directories.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 2,500,000

COMPANY NAME

 

AL AHRAM ESTABLISHMENT

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Ahram Building

Street               : Al Galaa Street

Town                 : Cairo 11511

Country             : Egypt

Telephone         : (20-2) 25786144 / 25786100 / 25786200 / 27704444 / 27703100

Facsimile          : (20-2) 25786023 / 25786833 / 25786126

Email                : atefabdallah@mail.com

 

Premises

Subject operates from a large suite of offices that are owned and located in the Central Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       10 El Zaim Gamal Abdel Nasser Road                                                Office premises

Alexandria

       Tel: (20-3) 4834000 / 4874000

       Fax: (20-3) 4834000

 

·       4th Industrial Zone                                                                              Factory premises

El Mehwar El Markzy

6th Of October City

Tel: (20-2) 38332201

Fax: (20-2) 38333756

 

·       29 El Nabi Daniel Street                                                                     Office premises

Alexandria

Tel: (20-3) 4956680

Fax: (20-3) 4970288

 

·       2nd Industrial Zone                                                                              Factory premises

Sohag

Tel: (20-93) 2311999

Fax: (20-93) 2311991

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abd El Moneim Said Ali                                                                     Chairman

 

·       Sami Metwally                                                                                  Director

 

·       Essam Refaat                                                                                   Director

 

·       Mohamed Pasha                                                                               Director

 

·       Ibrahim Hegazy                                                                                 Director

 

·       Dr Hussein El Masry                                                                         Director

 

·       Abd El Moneim El Said                                                                      Director

 

·       Hassan Hamdy                                                                                 Director

 

·       Mamdouh Darwish                                                                             Director

 

·       Said Abu Tarek                                                                                 Director

 

·       Taha Abd El Alim                                                                              General Manager

 

·       Mohamed Ismail Zaki                                                             Financial Manager

 

·       Moustafa El Khouly                                                                           IT Manager

 

·       Mahmoud El Khatib                                                                           Marketing Manager

 

·       Saeed Maher                                                                                    Human Resources Manager

 

·       Ossama El Saraya                                                                            Editor in Chief

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th December 1875

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 1875, Cairo

 

Issued Capital              : £E 150,000,200

 

Paid up Capital            : £E 150,000,200

 

Name of Shareholder (s)                                          Percentage

 

·       Government of Egypt                                     100%

 

 

AFFILIATED COMPANIES

 

·       Al Ahram Al Riyadi

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Al Ahram Evening Daily

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Al Ahram Weekly

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Al Ahram Translation & Publishing Centre

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Al Ahram Microfilm Centre

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Al Ahram Distribution Agency

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Al Ahram Al Ektessadi Magazine

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Al Ahram Agency Press Services

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Al Ahram Advertising Agency

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Ahram Hebdo

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Ahram International

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

·       Ahram Management & Computer Centre

Al Ahram Building

Al Galaa Street

Cairo

Tel: (20-2) 25786100

Fax: (20-2) 25786089

 

 

OPERATIONS

 

Activities: Engaged in the printing and publishing of books, magazines, journals and trade directories.

 

     Subject also acts as advertising agents.

 

Import Countries: United Kingdom, Canada, France, Russia and the United States of America.

 

Export Countries: Africa and GCC countries.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 12,000 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 1,385,000,000                       £E 1,407,000,000

 

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

 

 

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.45.20

UK Pound

1

Rs.73.07

Euro

1

Rs.61.41

 

 

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.