MIRA INFORM REPORT

 

 

Report Date :

15.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ARAB ORGANIZATION FOR INDUSTRIALIZATION (AOI)

 

 

Registered Office :

2D El Abbasseya Square Abbasseya PO Box 770 Cairo 11511

 

 

Country :

Egypt

 

 

Year of Establishment :

1975

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Holding Authority

 

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$ 5,000,000

 

 

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

 

SUMMARY

 

Company Name                                     : ARAB ORGANIZATION FOR INDUSTRIALIZATION (AOI)

Country of Origin                                    : Egypt

Legal Form                                            : Public Limited Company

Registration Date                                   : 1975

Issued Capital                                        : £E 150,000,000

Paid up Capital                                      : £E 150,000,000

Total Workforce                                     : 750

Activities                                               : Holding authority

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 5,000,000

 

COMPANY NAME

 

ARAB ORGANIZATION FOR INDUSTRIALIZATION (AOI)

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 2D El Abbasseya Square

Area                 : Abbasseya

 

PO Box             : 770

 

Town                 : Cairo 11511

Country             : Egypt

 

Telephone         : (20-2) 24823377 / 26824169 / 25932822 / 24837568

Facsimile          : (20-2) 24826010 / 24831799

Mobile               : (20-10) 6020870 / (20-12) 1616241

 

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

 

·       2 El Tayaran Street                                                                           Office premises

Nasr City

Cairo

Tel: (20-2) 24012250

Fax: (20-2) 24012245

 

·       11 Sezostries Street                                                                          Office premises

Alexandria

Tel: (20-3) 4801458

Fax: (20-3) 4806285

 

·       Abdel Aziz Street                                                                              Office premises

Helwan Elhamamat

Cairo

Tel: (20-2) 25553647

Fax: (20-2) 25561236

 

·       4.5 Km Cairo Suez Road                                                                   Warehouse premises

Cairo                       

Tel: (20-2) 22673635

Fax: (20-2) 22673496

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Hamdy Wahiba                                                                                 Chairman

 

·       Ashraf El Araby                                                                                 Director

 

·       Dr Nabil Salama                                                                                Director

 

·       Ibrahim Younis                                                                                  General Manager

 

·       Emad El Leithy                                                                                 Finance Manager

 

·       Sherif Abd El Moneim Shahin                                                 Marketing Manager

 

·       Gaber Abd El Rehim                                                                          Human Resources Manager

 

·       Mohamed Abd El Azim                                                                      Public Relations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1975

 

Legal Form                  : Public Limited Company

 

Issued Capital              : £E 150,000,000

 

Paid up Capital            : £E 150,000,000

 

Name of Shareholder (s)                                Percentage

 

·       Arab League                                                             100%

 

The Arab League is owned by the Egyptian Government.

 

 

OPERATIONS

Activities: Subject is a state controlled holding authority, managing and supervising its subsidiaries in civil and                          military industries. Affiliated companies work in the engineering industries, environmental equipment,                             plastic and composite materials and wooden furniture.

 

     AOI fully owns 10 factories and shares in 2 joint-ventures:

     AOI Aircraft Factory

     AOI Electronics Factory

     Sakr Factory for Development Industries (AOI)

     Kader Factory for Development Industries (AOI)

     Arab British Engine Co (ABECO) (AOI)

     Arab British Dynamics Co ABD (AOI)

     Arab American Vehicle (AAV)

 

                 Subject is ISO 9001:2000 and ISO 14001:2008 accredited.

 

Import Countries: France, Canada, United Kingdom and the United States of America.

 

Subject has a workforce of approximately 750 employees.

 

 

FINANCIAL DATA

 

Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Misr International Bank (MIBANK)

Maadi Branch

Cairo

Tel: (20-2) 33500814 / 33500992

Fax: (20-2) 33500992

 

·       National Bank of Egypt

24 Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

 

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.44.87

UK Pound

1

Rs.72.83

Euro

1

Rs.64.37

 

 

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.