MIRA INFORM REPORT

 

 

Report Date :           

14.05.2011

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL PRINTING & PACKAGING MATERIALS CO LTD (IPP)

 

 

Registered Office :

Sher Al Alam Lil Tib Wa Mawad Al Tabiya, Industrial Zone A2, Zone No. 3, Plot 3/3, Sharkeya, P O Box 1060, Tenth of Ramadan City

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1991

 

 

Com. Reg. No.:

939

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Printing of flexible packaging materials for biscuits, chocolates and carton boxes

 

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$ 850,000

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                         : INTERNATIONAL PRINTING & PACKAGING MATERIALS CO LTD

(IPP)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1991

Commercial Registration Number            : 939

Issued Capital                                        : £E 79,575,300

Paid up Capital                                      : £E 79,575,300

Total Workforce                         : 275

Activities                                               : Printing of flexible packaging materials for biscuits, chocolates and

carton boxes

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 850,000

Person Interviewed                                 : Ahmed Al Sharif, Administration Manager

 

COMPANY NAME

 

INTERNATIONAL PRINTING & PACKAGING MATERIALS CO LTD (IPP)

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Sher Al Alam Lil Tib Wa Mawad Al Tabiya

Area                 : Industrial Zone A2, Zone No. 3, Plot 3/3, Sharkeya

PO Box             : 1060

Town                 : Tenth of Ramadan City

Country : Egypt

Telephone         : (20-15) 413118 / 413155 / 367384 / 413164 / 413165 / 413166 / 413164

Facsimile          : (20-15) 413008 / 367338

Mobile               : (20-12) 3185297

Email                : ipp@pedata.net.eg

 

Premises

Subject operates from a large suite of offices and a factory with warehousing facilities that are owned and located in the Industrial Area of the Tenth of Ramadan City.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Saoud Ali Abd El Qader Hafez                                                            Chairman

 

·       Mohamed Ali Abd El Qader Hafez                                                       Managing Director

 

·       Mahmoud El Shenawy                                                                      General Manager

 

·       Ahmed Al Sharif                                                                                Administration Manager

 

·       Mahmoud Darasil                                                                              Sales Manager

 

·       Mamdouh Hano                                                                                 Finance Manager

 

·       Medhat Abdullah                                                                               Purchasing Manager

 

·       Yaser Kamel                                                                                     Technical Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1991, full production began in 1993

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 939

 

Issued Capital              : £E 79,575,300

 

Paid up Capital            : £E 79,575,300

 

Name of Shareholder (s)

 

·       Saoud Ali Abd El Qader Hafez

 

·       Mohamed Ali Abd El Qader Hafez

 

·       Local businessmen and private investors

 

 

OPERATIONS

 

Activities: Engaged in the printing of flexible packaging materials for biscuits, chocolates and carton boxes.

 

     Subject is also involved in offset, rotogravure and lithographic printing.

 

                 Subject is ISO 9001, 1801 and 2200 accredited.

 

Import Countries: Italy, Germany, Oman, India, Norway, Finland and China

 

Operating Trend: Steady

 

Subject has a workforce of approximately 275 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 106,000,000                         £E 120,000,000

 

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

 

The above figures were provided by Mr Ahmed Al Sharif, Administration Manager

 

 

BANKERS

 

·       National Bank of Egypt

Tenth of Ramadan City

Tel: (20-15) 360833 / 360744 / 344144

 

·       National Development Bank

     Tenth of Ramadan City

     Tel: (20-15) 362793 / 362794

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              November 2003                        July 2004

Credit amount                                        260,000                         100,000

Amount overdue                         0                                              0

Payment terms                                      90 days                                     60 days

Payment Method                                   Letters of Credit                         Letters of Credit

Paying record                                        No Complaints                           No Complaints

Currency                                               US Dollars                                 US Dollars

 

 

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.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

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.