MIRA INFORM REPORT

 

 

Report Date :           

31.05.2011

 

IDENTIFICATION DETAILS

 

Name :

CHLORIDE EGYPT SAE

 

 

Registered Office :

Cairo – Alexandria Road, Km 28, Abu Rawash Industrial Area, Pyramids, Giza, P O Box 1006, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1982

 

 

Com. Reg. No.:

70744, Giza

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture and export of motor vehicle batteries and lead alloys

 

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$ 400,000          

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

SUMMARY

 

Company Name                                     : CHLORIDE EGYPT SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1982

Commercial Registration Number            : 70744, Giza

Tax Card Number                                   : 100-065-481

Authorised Capital                                  : £E 75,000,000

Issued Capital                                        : £E 45,000,000

Paid up Capital                                      : £E 45,000,000

Total Workforce                                     : 590

Activities                                               : Manufacture and export of motor vehicle batteries and lead alloys.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 400,000

 

 

COMPANY NAME

 

CHLORIDE EGYPT SAE

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Cairo – Alexandria Road, Km 28

Area                 : Abu Rawash Industrial Area, Pyramids, Giza

PO Box             : 1006

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 35390066 / 35390068 / 35390190 / 35390073

Facsimile          : (20-2) 35390067 / 35390189

Email                : idgm@chloride-egypt.com

 

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

 

·       356 El Horreya Road                                                                         Office premises

Sidi Gaber

       Alexandria

       Tel: (20-3) 5446639

       Fax: (20-3) 5446639

 

·       40 El Bahr El Aazam Street                                                               Office premises

Giza

Cairo

Tel: (20-2) 37743372

 

·       Aswan Cairo High Way Road                                                             Office premises

Sohag

 

·       Abd El Salam Aref Street                                                                   Office premises

Mansoura

Dakahleya

 

·       20 Ibn El Haitham Street                                                                    Office premises

Nasr City

Cairo

Tel: (20-2) 22614606

 

·       20 Ahmed Helmy Street                                                                     Office premises

Cairo

 

·       Industrial Zone                                                                                  Office premises

Sharm El Sheikh

Tel: (20-12) 1686560

 

·       27 Gamela Abu Herad Street                                                              Office premises

Alexandria

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Dr Abd El Aziz Hegazy                                                                      Chairman

 

·       Faisal Meloud El Chaabi                                                                    Managing Director

 

·       Dr Mohamed Regba                                                                           Director

 

·       Dr Kilany Dahak                                                                                Director

 

·       Walid El Daoudi                                                                                Director

 

·       Mohamed Ibrahim El Dessouky                                                          Finance Manager

 

·       Mohamed Abd El Latif                                                                       Marketing Manager

 

·       Mervat Mounir                                                                                   Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1982

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 70744, Giza

 

Tax Card No.               : 100-065-481

 

Authorised Capital       : £E 75,000,000

 

Issued Capital              : £E 45,000,000

 

Paid up Capital            : £E 45,000,000

 

Name of Shareholder (s)                                               Percentage

 

·       Meloud El Chaabi Group                                               90.72%

     Morocco

 

·       Glades                                                                          9.24%

     Luxembourg

 

·       Faisal Meloud El Chaabi                                                 0.04%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and export of motor vehicle batteries and lead alloys under license from

     Chloride (UK) for batteries.

 

Production Capacity: 100 million batteries per annum

 

Import Countries : France, Italy, Turkey, Australia and the United Kingdom.

 

Export Countries : Romania, Greece, Poland, Cyprus, United Kingdom, Morocco, Algeria, Libya, Lebanon, Jordan,  Saudi Arabia, Ghana, United Arab Emirates, Nigeria, Burundi, Italy, and Ukraine.

 

Brand Names: CHLORIDE

 

Operating Trend: Steady

 

Subject has a workforce of approximately 590 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 160,710,719                         £E 166,227,951

 

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

 

·       Egyptian American Bank

4 & 6 Hassan Sabri

Zamalek

PO Box: 1825

Cairo

Tel: (20-2) 33416150

Fax: (20-2) 33420265

 

·       Banque du Caire Barclays Internationale SAE

12 Midan El Sheikh Youssef Street

Garden City

PO Box: 110, Maglis El Shaab

Cairo

Tel: (20-2) 33542195 / 33549415 / 33549422

Fax: (20-2) 33552746

 

·       Misr International Bank (MIBANK)

14 Alfy Street

     PO Box: 631

     Cairo

     Tel: (20-2) 25931002

     Fax: (20-2) 25912306

 

 

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.45.10

UK Pound

1

Rs.74.27

Euro

1

Rs.64.35

 

 

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.