MIRA INFORM REPORT

 

 

Report Date :

29.07.2011

 

IDENTIFICATION DETAILS

 

Name :

KAFR EL ZAYAT PESTICIDES AND CHEMICALS CO SAE (KZPC)

 

 

Registered Office :

61 El Hussein Street Dokki, Giza Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1955

 

 

Com. Reg. No.:

49640, Gharbeya

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Production and marketing of chemicals.

 

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$ 1,500,000

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 – 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

 

SUMMARY

 

Company Name                         : KAFR EL ZAYAT PESTICIDES AND CHEMICALS CO SAE (KZPC)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1955

Commercial Registration Number            : 49640, Gharbeya

Authorised Capital                                  : £E 200,000,000

Issued Capital                                        : £E   80,900,800

Paid up Capital                                      : £E   80,900,800

Total Workforce                         : 790

Activities                                               : Production and marketing of chemicals.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 1,500,000

 

 

 

COMPANY NAME

 

 KAFR EL ZAYAT PESTICIDES AND CHEMICALS CO SAE (KZPC)

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 61 El Hussein Street

Area                 : Dokki, Giza

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 37614362

Facsimile          : (20-2) 37614362

Email                : info@kz-chemicals.com / sales@kz-chemicals.com

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       El Sharekat Street                                                                             Factory premises

Kafr El Zayat

Gharbeya

       Tel: (20-40) 2542444 / 2542761 / 2548253

       Fax: (20-40) 3305631 / 2557403

 

·       21 Ahmed Kamha Street                                                                    Office premises

Alexandria

Tel: (20-3) 5934020

 

·       1st Industrial Zone                                                                              Factory premises

Alexandria Desert Road, Km 79

Beheira

Tel: (20-45) 2634475

Fax: (20-45) 2634475

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Albert George El Dabaa                                                                     Chairman

 

·       Essam Albert El Dabaa                                                                     Managing Director

 

·       Allam El Sayed Allam                                                                        Director

 

·       Seif Ahmed Seif                                                                                Director

 

·       Moawad Hassan Hussein                                                                   Director

 

·       Mohamed Sayed Mahmoud Wahba                                                    Director

 

·       Nehad Ezz El Din El Sayed Ramadan                                     Director

 

·       El Sayed Abd El Moneim Al Sharkawy                                                Director

 

·       Nadine Albert George El Dabaa                                                          Director

 

·       Hamada Abd El Latif Hassan Ebada                                                   Sales Manager

 

·       Mohamed Ahmed Abd El Samad Gohar                                              Public Relations Manager

 

·       Ibrahim El Naggar                                                                              Quality Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1955

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 49640, Gharbeya

 

Authorised Capital       : £E 200,000,000

 

Issued Capital              : £E   80,900,800

 

Paid up Capital            : £E   80,900,800

 

Name of Shareholder (s)

 

·       Albert George El Dabaa

 

·       Essam Albert El Dabaa

 

·       Nadine Albert George El Dabaa

 

·       Karim Essam Albert El Dabaa

 

·       Albert Insecticides & Chemicals

 

·       Misr Banque Investment Account No. 2

 

·       Ahlya Insurance

 

·       Investment Funds

 

·       International Egyptian Fund

 

·       Employee Shareholders Association

 

·       Public Sector Business

 

·       Local businessmen and private investors

 

 

OPERATIONS

 

Activities: Engaged in the production and marketing of chemicals for agricultural and hygiene purposes. The product range includes: agricultural pesticides, insecticides, fungicides, herbicides, rodenticides, fertilisers,  household and hygienic cleaning detergents.

 

         Subject is ISO 9001 & ISO 14001 accredited.

 

Production Capacity: 60,000 tonnes per annum

 

Import Countries: United Kingdom, France, Italy, United States of America, India, Hong Kong, and Japan.

 

International Suppliers:

 

·       Sumitomo                 Japan

·       Zenica                      United Kingdom

·       Agrivo                       France

·       Rohm & Hass           Italy

·       Rotam                      Hong Kong

·       Fikom                      India

·       Drexel                      United States of America

 

Export Countries: Saudi Arabia, United Arab Emirates, Jordan, Iraq, Yemen, Sudan, Libya, Zimbabwe, Uganda,

                  Ethiopia, Cyprus, Greece and Macedonia.

 

Brand Names: KZ

 

Operating Trend: Steady

 

Subject has a workforce of approximately 790 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 178,500,000                         £E 182,000,000

 

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

 

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

 

 

BANKERS

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

·       National Bank of Egypt

Abdel Hai Khalil Street

El Mahala El Kobra

Gharbeya

Tel: (20-40) 22230565 / 22245127

Fax: (20-40) 22234065

 

·       Bank of Alexandria

     Main Branch

     Cairo

     Tel: (20-2) 24824056 / 24836073

     Fax: (20-2) 24837468

 

·       Commercial International Bank (CIB)

Nile Tower Building

21-23 Giza Street

PO Box: 2430

Cairo

Tel: (20-2) 25703043

Fax: (20-2) 25703172 / 25072691

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Kafr El Zayat Pesticides And Chemicals Co SAE (KZPC) is a leading concern in the production of chemicals in Egypt. It specialises in the agro and hygiene chemicals, such as pesticides, insecticides, fungicides, herbicides, rodenticides, and fertilisers.

 

The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.12

UK Pound

1

Rs.72.05

Euro

1

Rs.63.33

 

 

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.