MIRA INFORM REPORT

Report Date :

23.11.2011

IDENTIFICATION DETAILS

Name :	EGYPT PAPER INDUSTRIES CO

Registered Office :	Sheraton Housing Building 10 Mohamed Metwally El Shaarawy Street El Nozha, Heliopolis Cairo

Country :	Egypt

Year of Establishment :	1994

Legal Form :	Egyptian Joint Stock Company

Line of Business :	Manufacturers of paper

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$ 150,000

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Egypt

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

SUMMARY

Company Name : EGYPT PAPER INDUSTRIES CO

Country of Origin : Egypt

Legal Form : Egyptian Joint Stock Company

Registration Date : 1994

Authorised Capital : £E 35,000,000

Issued Capital : £E 5,000,000

Paid up Capital : £E 5,000,000

Total Workforce : 150

Activities : Manufacturers of paper

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 150,000

COMPANY NAME

EGYPT PAPER INDUSTRIES CO

ADDRESS

Registered & Physical Address

Building : Sheraton Housing Building

Street : 10 Mohamed Metwally El Shaarawy Street

Area : El Nozha, Heliopolis

Town : Cairo

Country : Egypt

Telephone : (20-2) 22688767

Facsimile : (20-2) 22688767

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Cairo.

KEY PRINCIPALS

Name Position

· John Gamil Mikhael Managing Director

· Dalia Kamal Mohamed Director

· Eva Thabet Nazir Director

LEGAL FORM & OWNERS

Date of Establishment : 1994

Legal Form : Egyptian Joint Stock Company

Authorised Capital : £E 35,000,000

Issued Capital : £E 5,000,000

Paid up Capital : £E 5,000,000

Name of Shareholder (s) Percentage

· John Gamil Mikhael 77%

· Dalia Kamal Mohamed 20%

· Eva Thabet Nazir 3%

OPERATIONS

Activities: Engaged in the manufacture of paper.

Import Countries: Europe and the Far East.

Subject has a workforce of 150 employees.

FINANCIAL DATA

Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside 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.52.70
UK Pound	1	Rs.82.44
Euro	1	Rs.71.08

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.