MIRA
INFORM REPORT
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Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MODERN MISR FACTORY FOR PAPER & BOARD PREPARATION |
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Registered Office : |
Unit 10 Alexandria - Cairo Desert Road, Km 24 Zawit Abd El Kader
Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
81, Alexandria |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturing and converting of paper boards. |
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$ 500,000 |
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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 |
SUMMARY
Company Name : MODERN MISR FACTORY FOR PAPER & BOARD PREPARATION
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2003
Commercial Registration Number : 81, Alexandria
Tax Card Number : 706-017-692
Invested Capital : £E 300,000,000
Total Workforce : 160
Activities : Manufacturing and converting of paper boards.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
MODERN MISR FACTORY FOR
PAPER & BOARD PREPARATION
ADDRESS
Registered & Physical Address
Building : Unit 10
Street : Alexandria -
Cairo Desert Road, Km 24
Area : Zawit Abd El
Kader
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5914742
/ 5970921 / 5968788
Facsimile : (20-3) 5968788
/ 5970921
Mobile : (20-10)
3075000 / 3075444
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Alexandria.
Branch Office (s)
Location Description
· El Watania
Building Office
premises
116 El Horreya
Road
Alexandria
Tel: (20-3)
4841555
Fax: (20-3)
4875523
KEY PRINCIPALS
Name Position
· Ahmed El Sayed El
Masry Proprietor
& General Manager
· El Sayed El Masry Assistant
General Manager
· Ahmed Meshaly Finance
Manager
· Sara Nasr Habib Import
Manager
· Mohamed Ahmed El
Sayed El Masry Marketing
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2003
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 81, Alexandria
Tax Card No. : 706-017-692
Invested Capital : £E 300,000,000
Mr Ahmed El Sayed El Masry is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the manufacturing and converting of paper boards for use as
paper for book printing and
typewriters.
Production Capacity: 60 tonnes per day
Import Countries: Germany, Italy, Russia, Indonesia and Australia.
Brand Names: AMIRA
Operating Trend: Steady
Subject has a workforce of approximately 160 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E
275,000,000 £E
300,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Egyptian American Bank
14 Salah Salem Street
PO Box: 1737
Alexandria
Tel: (20-3) 4835008
·
Egyptian Commercial Bank
29 El Nabi Daniel
Street
Alexandria
Tel: (20-3)
3935734
Fax: (20-3)
3935733
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.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
RATING EXPLANATIONS
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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 |
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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 |
-- |
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.