MIRA INFORM REPORT

 

 

Report Date :           

29.07.2011

 

IDENTIFICATION DETAILS

 

Name :

MISR EDFU PULP WRITING & PRINTING PAPER CO SAE (MEPPCO)

 

 

Registered Office :

14 Gawad Hosny Street, 1st Floor, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1995

 

 

Com. Reg. No.:

20344, Aswan

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Production of white paper used for printing and writing

 

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$ 1,000,000

 

 

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

 

 Bottom of Form

SUMMARY

 

Company Name                         : MISR EDFU PULP WRITING & PRINTING PAPER CO SAE

(MEPPCO)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1995

Commercial Registration Number            : 20344, Aswan

Tax Card Number                                   : 204-931-835

Issued Capital                                        : £E 530,000,000

Paid up Capital                                      : £E 530,000,000

Total Workforce                                     : 715

Activities                                               : Production of white paper used for printing and writing.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 1,000,000

 

 

 

 

COMPANY NAME

 

MISR EDFU PULP WRITING & PRINTING PAPER CO SAE (MEPPCO)

 

 

company ADDRESS

 

Registered & Physical Address

Location            : 14 Gawad Hosny Street, 1st Floor

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 23952940 / 23952942

Facsimile          : (20-2) 23952941

Mobile               : (20-12) 2127680

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Koum El Amir                                                                                   Owned factory premises

     Edfu, Aswan

     Tel: (20-97) 4790905 / 4790906 / 4790907

     Fax: (20-97) 4790909

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Abd El Aal Kholaif                                                              Chairman

 

·       Abd El Rahman Ahmed Abd El Rahman                                              Managing Director

 

·       Adel Mohamed Khodary                                                                     Finance Manager

 

·       Mahmoud Mohamed El Rashidi                                                          Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1995

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 20344, Aswan

 

Tax Card No.               : 204-931-835

 

Issued Capital              : £E 530,000,000

 

Paid up Capital            : £E 530,000,000

 

Name of Shareholder (s)                                          Percentage

 

·       Sugar Integrated Industries                                         45%

 

·       Misr Insurance                                                          20%

 

·       National Investment Bank                                           15%

 

·       National Insurance of Egypt                                        10%

 

·       Banque Misr                                                             10%

 

 

OPERATIONS

 

Activities: Engaged in the production of white paper used for printing and writing.

 

Import Countries: China, Italy, Turkey, United Kingdom and India.

 

Export Countries: Morocco, Libya, Kenya, Tunisia and Turkey.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 715 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 222,300,000                         £E 270,000,000

 

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

 

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

 

 

BANKERS

 

·       Bank of Alexandria

     Nasr City Branch

     Cairo

     Tel: (20-2) 24012542

     Fax: (20-2) 22630464

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

·       National Bank of Egypt

24, Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

·       Misr International Bank (MIBANK)

     61, Bahi El Din Barakat Street

     Giza

     Cairo

     Tel: (20-2) 27497002 / 27497010

     Fax: (20-2) 33365395

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

GENERAL COMMENTS

 

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.44.13

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.