MIRA INFORM
REPORT
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Report Date : |
04.07.2011 |
IDENTIFICATION DETAILS
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Name : |
SHARAFCHEM CO FOR TRADING AND INDUSTRY SAE |
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Registered Office : |
B4 Industrial Zone,
Plot No. 85, Sharkeya, 10th of Ramadan City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
2251 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of chemicals for textiles, synthetic dyes and inks. |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Bottom of Form
SUMMARY
Company Name : SHARAFCHEM CO FOR TRADING AND INDUSTRY SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1994
Commercial Registration Number : 2251
Tax Card Nuumber : 207-489-114
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 100
Activities : Manufacturers of chemicals for textiles, synthetic dyes and inks.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SHARAFCHEM CO FOR
TRADING AND INDUSTRY SAE
company ADDRESS
Registered & Physical Address
Location : B4 Industrial Zone, Plot No. 85
Area : Sharkeya
Town : 10th of Ramadan
City
Country : Egypt
Telephone : (20-15) 368902 / 386440
Facsimile : (20-15) 368902
Mobile : (20-10) 3499551
Email : aalsharaf@sharafchem.com.eg
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of 10th of Ramadan City.
KEY PRINCIPALS
Name Position
·
Hany El
Sayed Sharaf Managing
Director
·
Ashraf
Sayed Sharaf Director
·
Waleed
Sayed Sharaf Director
·
Ahmed
El Sayed Sharaf Director
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 2251
Tax Card No. : 207-489-114
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Shareholder (s)
·
Hany El
Sayed Sharaf
·
Ashraf
Sayed Sharaf
·
Waleed
Sayed Sharaf
·
Ahmed
El Sayed Sharaf
OPERATIONS
Activities: Engaged in the manufacture of chemicals for
textiles, synthetic dyes and inks.
Import
Countries: Turkey, United
Kingdom, France, Germany, United States of America, Switzerland and Denmark.
Export
Countries: Morocco, Spain
and Syria
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 10,941,246 £E 11,661,525
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Misr
International Bank (MIBANK)
Main Branch
10th of Ramadan City
Tel: (20-15) 378435
Fax: (20-15) 378327
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
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UK Pound |
1 |
Rs.71.75 |
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Euro |
1 |
Rs.64.80 |
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.