MIRA INFORM
REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
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Name : |
PORTA EGYPT FOR PACKAGING MATERIALS SAE |
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Registered Office : |
4th
Industrial Zone, Plot 78, Giza,
Sixth of October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
98097 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of polypropylene
film and cassettes and polyester |
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 : PORTA EGYPT FOR PACKAGING MATERIALS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1994
Commercial Registration Number : 98097
Tax Card Number : 100-475-787
Authorised Capital : £E 100,000,000
Issued Capital : £E 40,000,000
Paid up Capital : £E 40,000,000
Total Workforce : 180
Activities : Manufacturers of polypropylene film and cassettes and polyester.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
PORTA EGYPT FOR PACKAGING MATERIALS SAE
company ADDRESS
Registered & Physical Address
Location : 4th
Industrial Zone, Plot 78, Giza
Town : Sixth of October City
Country : Egypt
Telephone : (20-2) 38334997
/ 38334996 / 38330674 / 38324145 / 38331228
Facsimile : (20-2) 38331228
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of the Sixth of October City.
KEY PRINCIPALS
Name Position
·
Mohamed El Hady El Zaghal Chairman
·
Sellim
Mohamed El Hady Vice
Chairman
·
Aldo Jee Director
·
Abd El Fattah Abd El Aziz Finance
Manager
·
Walid Mekkawy Accounts
Manager
·
Mohamed
Abd El Hakim Treasury
Manager
·
Mena
Nessim Purchasing
Manager
·
Mohamed
Ibrahim Technical
Manager
·
Ayman
Abd El Alim Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 98097
Tax Card No. : 100-475-787
Authorised Capital : £E
100,000,000
Issued Capital : £E
40,000,000
Paid up Capital : £E 40,000,000
Name of Shareholder
(s) Percentage
·
Altea Packaging Group 99.98%
Tunisia
·
Cogitel 0.01%
Tunisia
·
Sied 0.01%
Tunisia
OPERATIONS
Activities: Engaged in the
manufacture of polypropylene film and cassettes and polyester.
Import
Countries: India, China,
France and the United Arab Emirates
Export
Countries: Morocco, Libya
and Sudan
Operating Trend: Steady
Subject has a
workforce of approximately 180 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 108,726,922 £E 127,163,874
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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.44.59 |
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|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.66.04 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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.