MIRA INFORM REPORT
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Report Date : |
04.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SOFT ROSE INTERNATIONAL FOR PAPER AND PLASTIC
CONVERTING SAE |
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Registered Office : |
3 Farkhanda Hasan
Street, El Ard El Iraneya, El Bassatin, Maadi, Cairo 11432 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1988 |
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Com. Reg. No.: |
251823, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of sanitary paper products |
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$ 250,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 : SOFT ROSE INTERNATIONAL FOR PAPER AND PLASTIC
CONVERTING SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1988
Commercial Registration Number : 251823, Cairo
Industrial Registration Number : 4704
Tax Card Number : 100-049-257
Issued Capital : £E 12,000,000
Paid up Capital : £E 12,000,000
Total Workforce : 250
Activities : Manufacturers of sanitary paper products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
SOFT ROSE
INTERNATIONAL FOR PAPER AND PLASTIC CONVERTING SAE
company ADDRESS
Registered &
Physical Address
Street : 3 Farkhanda Hasan Street
Area : El Ard El Iraneya, El
Bassatin, Maadi
Town : Cairo 11432
Country : Egypt
Telephone : (20-2) 27035001 / 27035006 / 27035003
Facsimile : (20-2) 27035009
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Maadi.
Branch Office (s)
Location Description
·
127
Misr/Helwan Road Factory
premises
Dar El-Salam
Maadi
Cairo 11431
Tel: (20-2) 25240700
Mob: (20-10) 1159604 / (20-12) 2100197
KEY PRINCIPALS
Name Position
·
Mohamed
Mahmoud Mohamed Soliman Managing
Director
·
Mohamed
Abd El Aal Finance
Manager
·
Magda
Beshry Sales
Manager
·
Hany
Badawy Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1988
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 251823, Cairo
Industrial Reg.
No. : 4704
Tax
Card No. : 100-049-257
Issued Capital : £E 12,000,000
Paid up Capital : £E 12,000,000
Name of Shareholder
(s) Percentage
·
Mohamed
Mahmoud Mohamed Soliman 58%
·
Heba
Mohamed Mahmoud 20%
·
Hoda
Bayoumy Ismail 20%
·
Hany
Badawy 1%
·
Farida
Bayoumy Ismail 1%
OPERATIONS
Activities: Engaged in the manufacture of sanitary
paper products including, tissue paper boxes, pocket tissues,
napkins, sanitary towels and
toilet paper.
Import
Countries: China
Brand Names: SOFT ROSE
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 31,164,344 £E 34,327,339
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of Abu Dhabi
Nile Tower, 18th Floor
21, Giza Street
Cairo
Tel: (20-2) 3609724
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.42 |
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UK Pound |
1 |
Rs.76.72 |
|
Euro |
1 |
Rs.65.85 |
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.