MIRA INFORM
REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Name : |
THE EGYPTIAN EUROPEAN COMPANY |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2005 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturer of
plastic pens and tubes |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : THE EGYPTIAN EUROPEAN COMPANY
Trading As : TUBE
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 2005
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 150
Activities : Manufacture of plastic pens and tubes
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Raouf Labib, Finance Manager
COMPANY NAME
THE EGYPTIAN
EUROPEAN COMPANY
TRADING AS
TUBE
company ADDRESS
Registered & Physical Address
Building :
Street :
Area :
Town :
Country :
Telephone : (20-2) 26906193
Facsimile : (20-2) 26906192
Email : ihab.ghali@linkpens.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
10th
Tel: (20-15) 363838 / 410258
KEY PRINCIPALS
Name Position
·
Hani Nagati Bolous Chairman
·
Raouf
Labib Finance
Manager
·
Reymond
George Purchasing
Manager
·
Ihab
Ghali Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder
(s)
·
Hani Nagati Bolous
·
Members
of Mr Hani
Nagati Bolous’ family
AFFILIATED COMPANIES
·
Al Nagati Factory (Link)
10th Of
OPERATIONS
Activities: Engaged in the manufacture of
plastic pens and tubes.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of approximately 150 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 13,850,000 £E 14,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of
Tel: (20-2) 3924175
Fax: (20-2) 3924143
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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1 |
Rs.73.54 |
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Euro |
1 |
Rs.62.39 |
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 |
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.