MIRA INFORM REPORT

 

 

Report Date :

28.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

EL AHRAM CO FOR PRINTING AND PACKAGING SAE

 

 

Registered Office :

1/2, Industrial Zone, Plot No.6A, Block 11, Borg El Arab, Alexandria

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1991

 

 

Com. Reg. No.:

129336, Alexandria

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture and printing of all kinds of packaging and wrapping 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$ 100,000

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                                     : EL AHRAM CO FOR PRINTING AND PACKAGING SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1991

Commercial Registration Number            : 129336, Alexandria

Tax Card Number                                   : 100-443-687

Industrial Registration Number                 : 24347

Issued Capital                                        : £E 26,000,000

Paid up Capital                                      : £E 26,000,000

Total Workforce                                     : 135

Activities                                               : Manufacture and printing of all kinds of packaging and wrapping

materials

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 100,000

 

COMPANY NAME

 

EL AHRAM CO FOR PRINTING AND PACKAGING SAE

 

 

company ADDRESS

 

Registered & Physical Address

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

Area                 : Borg El Arab

Town                 : Alexandria

Country             : Egypt

Telephone         : (20-3) 4591441 / 4592047 / 4592213

Facsimile          : (20-3) 4592059

Mobile               : (20-10) 1493448

Email                : elahram@ahramco.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 Methak Street                                                                                Rented sales office

Victoria

     Alexandria

     Tel: (20-3) 5832016 / 5837739

     Fax: (20-3) 5827407

 

·       9 Tahrir Street                                                                                   Rented sales office

Dokki, Giza

Cairo

Tel: (20-2) 3351905 / 3351906

Fax: (20-2) 3351905

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Saleh Abd El Aziz Ismail                                                                   Chairman

 

·       Dr Mohamed Rashad Mohamed El Ghitany                                         Managing Director

 

·       Mohamed Idris Ahmed El Senoussy                                                   Director

 

·       Ahmed Mohamed Idris                                                                       Director

 

·       Mohamed Saleh                                                                                Director

 

·       Mohamed Salah Abd El Aziz                                                              Director

 

·       Abbas El Ghaiani                                                                              Director

 

·       Sameh Abd El Wahed                                                                       Finance Manager

 

·       Ahmed Adel                                                                                      Accounts Manager

 

·       Onsi Fawzy                                                                                      Sales Manager

 

·       Halim Francis                                                                                   Production Manager

 

·       Hani Edward                                                                                     Maintenance Manager

 

·       Abdallah Abd El Latif Abu Samra                                                        Factory Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1991

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 129336, Alexandria

 

Tax Card No.               : 100-443-687

 

Industrial Reg. No.       : 24347

 

Issued Capital              : £E 26,000,000

 

Paid up Capital            : £E 26,000,000

 

Name of Shareholder (s)                                               Percentage

 

·       Saleh Abd El Aziz Ismail                                                18.99%

 

·       Dr Mohamed Rashad Mohamed El Ghitany                      12.75%

 

·       Mohamed Idris Ahmed El Senoussy                                11.08%

 

·       Mohamed Saleh Abd El Aziz                                             3.51%

 

·       Jihan Saleh Abd El Aziz                                                   2.92%

 

·       Ahmed Mohamed Idris Ahmed El Senousy                         1.95%

 

·       Free float                                                                       48.80%

 

 

AFFILIATED COMPANIES

 

·       Delta Co for Printing and Packaging SAE

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

2nd Industrial Zone

Alexandria

Tel: (20-3) 4597277 / 4597276

Fax: (20-3) 4597274

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and printing of all kinds of packaging and wrapping materials, including multi layer paper, aluminium foils, plastic films multi layer and cardboard for foodstuffs and other industries.

 

Subject is ISO 9001, 14001 and 18001 accredited.

 

Import Countries: France, Belgium, China, Saudi Arabia, Qatar and United Arab Emirates

 

Export Countries: Libya and Saudi Arabia

 

Operating Trend: Steady

 

Subject has a workforce of approximately 135 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 33,204,000                           £E 33,467,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Societe Generale Bank

15 Mina Street

Kafr Abdou

Alexandria

Tel: (20-3) 5224611

 

 

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%)

 

 

 

 

 

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.