MIRA INFORM REPORT

Report Date :

23.03.2011

IDENTIFICATION DETAILS

Name :	ABB FOR FEEDING INDUSTRIES CO SAE

Registered Office :	Industrial Zone B1, P O Box 415, 10^th of Ramadan City

Country :	Egypt

Financials (as on) :	31.12.2010

Year of Establishment :	1994

Com. Reg. No.:	70245

Legal Form :	Egyptian Joint Stock Company

Line of Business :	Manufacturers of plastic and metal moulds

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 800,000
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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : ABB FOR FEEDING INDUSTRIES CO SAE

Country of Origin : Egypt

Legal Form : Egyptian Joint Stock Company

Registration Date : 1994

Commercial Registration Number : 70245

Issued Capital : £E 5,000,000

Paid up Capital : £E 5,000,000

Total Workforce : 114

Activities : Manufacturers of plastic and metal moulds.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 800,000

Person Interviewed : Ramadan Mohamed Ali, Finance Manager

COMPANY NAME

ABB FOR FEEDING INDUSTRIES CO SAE

company ADDRESS

Registered & Physical Address

Location : Industrial Zone B1

PO Box : 415

Town : 10^th of Ramadan City

Country : Egypt

Telephone : (20-15) 368793 / 368794 / 368795 / 368790

Facsimile : (20-15) 376106

Mobile : (20-12) 7447847 / 3148153 / (20-10) 0018138

Premises

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of 10^th of Ramadan City.

KEY PRINCIPALS

Name Position

· Mohamed El Saway General Manager

· Mohamed Hussain Operations Manager

· Ramadan Mohamed Ali Finance Manager

LEGAL FORM & OWNERS

Date of Establishment : 1994

Legal Form : Egyptian Joint Stock Company

Commercial Reg. No. : 70245

Issued Capital : £E 5,000,000

Paid up Capital : £E 5,000,000

Name of Shareholder (s) Percentage

· ABB Holding 100%

7 Dr Mohamed Kamel Hussain Street

El Nozha El Gedida

Cairo

Tel: (20-2) 26251320

OPERATIONS

Activities: Engaged in the manufacture of plastic and metal moulds for the electrical industry.

Subject is ISO 9001 and 9014 accredited.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 114 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 68,380,000 £E 70,089,000

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

The above figures were provided by Mr Ramadan Mohamed Ali, Finance Manager

BANKERS

· Commercial International Bank (CIB)

City Centre, Plot No. 8

10^th of Ramadan City

Tel: (20-15) 367294

Fax: (20-15) 367915

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.44.97
UK Pound	1	Rs.73.35
Euro	1	Rs.63.98

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

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.