MIRA INFORM REPORT

 

 

Report Date :

28.01.2011

 

IDENTIFICATION DETAILS

 

Name :

DELTA CO FOR PRINTING & PACKAGING SAE

 

 

Registered Office :

Borg El Arab El Gedida, Land No. 8, Block No. 35, 2nd Industrial Zone, Alexandria

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

30.10.2002

 

 

Com. Reg. No.:

1451, Alexandria

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture and printing of packaging materials

 

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$ 500,000

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 – 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                                     : DELTA CO FOR PRINTING & PACKAGING SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 30th October 2002

Commercial Registration Number            : 1451, Alexandria

Issued Capital                                        : £E 28,000,000

Paid up Capital                                      : £E 28,000,000

Total Workforce                                     : 200

Activities                                               : Manufacture and printing of packaging materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 500,000

Person Interviewed                                 : Sameh Abdul Wahid, Finance Manager

 

COMPANY NAME

 

DELTA CO FOR PRINTING & PACKAGING SAE

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Borg El Arab El Gedida, Land No. 8, Block No. 35

Area                 : 2nd Industrial Zone

Town                 : Alexandria

Country             : Egypt

Telephone         : (20-3) 4597277 / 4597276

Facsimile          : (20-3) 4597274

Mobile               : (20-12) 9132223

Email                : info@deltapackage.com

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       7 El Iqbal Street                                                                                Office premises

Loran

Alexandria

Tel: (20-3) 5832016 / 5837739

Fax: (20-3) 5827407

 

·       Tahrir Square                                                                                    Office premises

Dokki

Cairo

Tel: (20-2) 33351905

Fax: (20-2) 33351906

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Saleh Abdulaziz Ismail                                                                      Managing Director

 

·       Dr Mohamed Rashad Mohamed Keitani                                               Director

 

·       Mohamed Idriss Ahmed El Shanousi                                                   Director

 

·       Sameh Abdul Wahid                                                                          Finance Manager

 

·       Sayed Baker                                                                                     Production Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 30th October 2002, full production began in 2004

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 1451, Alexandria

 

Issued Capital              : £E 28,000,000

 

Paid up Capital            : £E 28,000,000

 

Name of Shareholder (s)

 

·       Saleh Abdulaziz Ismail

 

·       Dr Mohamed Rashad Mohamed Keitani

 

·       Mohamed Idriss Ahmed El Shanousi              

 

·       Local businessmen and private investors

 

 

AFFILIATED COMPANIES

 

·       El Ahram Co for Printing and Packaging SAE

1/2, Industrial Zone, Plot No.6A, Block 11

Borg El Arab

Alexandria

Tel: (20-3) 4591441

Fax: (20-3) 4592059

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and printing of flexible packaging materials for use in the foodstuff and

     pharmaceutical industries.

 

Import Countries: India, Italy and France

 

Operating Trend: Steady

 

Subject has a workforce of approximately 200 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 48,750,000                           £E 54,000,000

 

Net Profit                                   £E 10,648,000                           £E 13,900,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Sameh Abdul Wahid, Finance Manager

 

 

BANKERS

 

·       National Societe Generale Bank

240 El Corniche Street

Ramleh

     Alexandria

     Tel: (20-3) 5452352 / 5450332

     Fax: (20-3) 5455715

 

 

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.45.57

UK Pound

1

Rs.72.50

Euro

1

Rs.62.46

 

 

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%)

 

 

 

 

 

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