MIRA
INFORM REPORT
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Report Date : |
11.05.2011 |
IDENTIFICATION DETAILS
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Name : |
HELWAN DIESEL ENGINES SAE |
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Registered Office : |
Ein Helwan, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1964 |
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Com. Reg. No.: |
121307 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of Diesel Engines, Electrical Generators, Welding Sets,
Compressed Air Units, |
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$ 1,500,000 |
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Status : |
Good |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 :
HELWAN DIESEL ENGINES SAE
Country of Origin :
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1964
Commercial Registration Number :
121307
Tax Card Number :
100-047-092
Issued Capital :
£E 86,093,000
Paid up Capital :
£E 86,093,000
Total Workforce :
2,700
Activities :
Manufacturers of diesel engines, electrical generators, welding sets,
compressed air units, pumps, bearings and air
cooled engines.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 1,500,000
COMPANY NAME
HELWAN DIESEL ENGINES SAE
ADDRESS
Registered & Physical Address
Location : Ein Helwan
Town :
Country :
Telephone : (20-2) 25553849
/ 25553850 / 25768209
Facsimile : (20-2)
25554237
Email : helwan_diesel@yahoo.com
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Cairo.
Branch Office (s)
Location Description
·
Tel: (20-2)
25788840 / 25755919 / 25755993
Fax: (20-2)
25760523
·
Shoubra El Kheima
Kaliubeya
Tel: (20-2)
42207954 / 45553845 / 45553846
Fax: (20-2)
42206879
KEY PRINCIPALS
Name Position
· Dr Mamdouh Morsi
Hamouda Chairman
· Mohamed Kamal Abd
El Hamid Vice
Chairman
· Abd El Nabi Abd El
Kader Khamis Director
· Gamal Salem Director
· Serag El Din
Mohamed Finance
Manager
· El Sayed Mahmoud
Fawaz Commercial
Manager
· Kimy Demyan
Guirguis Factory
Manager
· Ramzy Ibrahim Purchasing
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1964
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 121307
Tax Card No. : 100-047-092
Issued Capital : £E 86,093,000
Paid up Capital : £E 86,093,000
Name of Shareholder (s) Percentage
· Ministry of State
for Military Production 100%
OPERATIONS
Activities: Engaged in the manufacture of diesel engines, electrical generators,
welding sets, compressed air units,
pumps, bearings and air cooled engines.
Subject is ISO 9001, 9002 and 14001
accredited.
Import Countries: Europe,
International Suppliers:
· Dentz
Export Countries:
Operating Trend: Steady
Subject has a workforce of approximately 2,700 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
120,000,000 £E
186,108,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
National Bank of
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.73 |
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|
1 |
Rs.73.21 |
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Euro |
1 |
Rs.63.90 |
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 |
-- |
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.