MIRA INFORM REPORT

 

 

Report Date :

07.03.2011

 

IDENTIFICATION DETAILS

 

Name :

SUPER PLAST CO

 

 

Formerly Known As :

FAROUK OSMAN & CO

 

 

Registered Office :

Cairo - Alexandria Agricultural Road, Km 12 Mit Halfa, Kaliubeya Cairo

 

 

Country :

Egypt

 

 

Year of Establishment :

1977

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacture of plastic packages for food products and duplex cardboard

 

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$ 300,000

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

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                         : SUPER PLAST CO

Also Known As                                      : FAROUK OSMAN & CO

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 1977

Commercial Registration Number            : 24580

Issued Capital                                        : £E 2,500,000

Paid up Capital                                      : £E 2,500,000

Total Workforce                                     : 250

Activities                                               : Manufacture of plastic packages for food products and duplex cardboard

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 300,000

 

COMPANY NAME

 

SUPER PLAST CO

 

ALSO KNOWN AS: FAROUK OSMAN & CO

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Cairo - Alexandria Agricultural Road, Km 12

Area                 : Mit Halfa, Kaliubeya

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 42155155 / 42155521 / 42157927 / 42156255

Facsimile          : (20-2) 42157565 / 42157567 / 42156575

Mobile               : (20-12) 9032901 / 7424445

 

Premises

 

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       37 Ismail Ramzy Street                                                                     Rented sales office

Heliopolis

     Cairo

     Tel: (20-2) 26903760

     Fax: (20-2) 26903763

 

·       501-503 Port Said Street                                                                    Rented sales office

Bab El Shaaria

       Cairo

       Tel: (20-2) 25916716 / 25922660 / 25922666

       Fax: (20-2) 25939779

 

·       76 El Merghany Street                                                                       Rented sales office

Heliopolis

Cairo

Tel: (20-2) 26903760

Fax: (20-2) 26903763

    

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Farouk Ali Osman                                                                             Managing Partner

 

·       Amr Ali Osman                                                                                 Partner

 

·       Mohamed Youssef                                                                            Finance Manager

 

·       Sherif Farouk Ali Osman                                                                    Administration Manager

 

·       Abd El Fattah Ali Arafa                                                                      Public Relations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1977

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 24580

 

Issued Capital              : £E 2,500,000

 

Paid up Capital            : £E 2,500,000

 

Name of Shareholder (s)

 

·       Farouk Ali Osman

 

·       Amr Ali Osman

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of plastic packages for food products and duplex cardboard.

 

Import Countries: India and Europe

 

Brand Names: SUPER PLAST

 

Subject has a workforce of approximately 250 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

 

·       Egyptian American Bank

4 & 6 Hassan Sabri

Zamalek

PO Box: 1825

Cairo

Tel: (20-2) 33416150

Fax: (20-2) 33420265

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk and the above credit figure is within subject’s financial means.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.99

UK Pound

1

Rs.73.24

Euro

1

Rs.62.80

 

 

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.