MIRA INFORM REPORT

 

 

Report Date :           

05.07.2011

 

IDENTIFICATION DETAILS

 

Name :

EGYPTIAN INTERNATIONAL FACTORY FOR SPLIT PULSE SAE

 

 

Registered Office :

3rd Industrial Zone, Plot No. 61, 6th of October City

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

28.01.2001

 

 

Com. Reg. No.:

3564, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Importing, Sieving, Sorting, Grinding and Packing of agricultural products

 

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 :

CAN$ 1,750,000

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

SUMMARY

 

Company Name                                     : EGYPTIAN INTERNATIONAL FACTORY FOR SPLIT PULSE SAE

Also Known As                                      : EGYPTIAN INTERNATIONAL FACTORY FOR SPLIT GRINDING &

                                                              AGRICULTURAL CROPS

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 28th January 2001

Commercial Registration Number            : 3564, Cairo

Tax Card Number                                   : 205-105-432

Issued Capital                                        : £E 5,000,000

Paid up Capital                                      : £E 5,000,000

Total Workforce                                     : 105

Activities                                               : Importing, sieving, sorting, grinding and packing of agricultural products

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : CAN$ 1,750,000

Person Interviewed                                 : Nabil Mohamed Helwa, Administration & Finance Manager

 

COMPANY NAME

 

EGYPTIAN INTERNATIONAL FACTORY FOR SPLIT PULSE SAE

 

 

ALSO KNOWN AS

 

EGYPTIAN INTERNATIONAL FACTORY FOR SPLIT GRINDING & AGRICULTURAL CROPS

 

 

company ADDRESS

 

Registered & Physical Address

Location            : 3rd Industrial Zone, Plot No. 61

Town                 : 6th of October City

Country             : Egypt

Telephone         : (20-2) 38339400 / 38339500 / 38339600 / 38339700

Facsimile          : (20-2) 38339800

Mobile               : (20-10) 2405015

Email                : hmh@el-rehab.com

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of 6th Of October City.

 

 

KEY PRINCIPALS

 

     Name                                                                                                          Position

 

·       Hani Mahrous Hefni                                                                                       Managing Director

 

·       Nabil Mohamed Helwa                                                                                   Administration & Finance Manager

 

·       Gada Mahmoud                                                                                            Administrative Officer

 

·       Mohamed Atif                                                                                               Commercial Manager

 

·       Reda Shakour                                                                                               Production Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 28th January 2001

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 3564, Cairo

 

Tax Card No.               : 205-105-432

 

Issued Capital              : £E 5,000,000

 

Paid up Capital            : £E 5,000,000

 

Name of Shareholder (s)

 

·       Hani Mahrous Hefni

 

·       Members of Hani Mahrous Hefni’s family

 

 

AFFILIATED COMPANIES

 

·       El Rehab For Trading

Plot No. 30/31, 3rd Industrial Zone

6th of October City

 

·       El Rehab Packaging Storage

Plot 7G, 2nd Industrial Area

6th of October City

 

 

OPERATIONS

 

Activities: Engaged in the importing, sieving, sorting, grinding and packing of agricultural products, including beans, lentils, kidney beans, black-eyed peas, chick peas and lupines.

 

Import Countries: Europe and GCC countries

 

Brand Names: EL REHAB

 

Operating Trend: Steady

 

Subject has a workforce of approximately 105 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 368,000,000                         £E 375,000,000

 

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

 

The above financial figures were confirmed by Nabil Mohamed Helwa, Administration & Finance Manager

 

 

BANKERS

 

·       Misr International Bank (MIBANK)

14 Alfy Street

       PO Box: 631

       Cairo

       Tel: (20-2) 25931002

       Fax: (20-2) 25912306

 

·       BNP Paribas

3 Tawfik Diab Street

     Cairo

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              November 2007

Credit amount                                        500,450

Amount overdue                         0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Canadian Dollars

 

 

 

GENERAL COMMENTS

 

Established in 2001, subject is involved in the importing, sieving, sorting, grinding and packing of agricultural products, including beans, lentils, kidney beans, black-eyed peas, chick peas and lupines.

 

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.44.46

UK Pound

1

Rs.71.53

Euro

1

Rs.64.63

 

 

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

----

NB

New Business

----

 

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.