MIRA INFORM REPORT
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Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
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Name : |
WELL BOND ALUMINIUM COMPOSITE PANEL CO |
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Registered Office : |
Suez Public Free Zone,
Ataqa No. 6, Block No. 157, Suez |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.03.2008 |
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Com. Reg. No.: |
2158 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of aluminium composite panels and facia |
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$ 400,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : WELL BOND ALUMINIUM COMPOSITE PANEL CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 18th March 2008
Commercial Registration Number : 2158
Issued Capital : US$ 2,500,000
Paid up Capital : US$ 2,500,000
Total Workforce : 30
Activities : Manufacturers of aluminium composite panels and facia.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
Person Interviewed : Mohamed Shareed Saleh, Managing Partner
COMPANY NAME
WELL BOND ALUMINIUM COMPOSITE PANEL CO
company ADDRESS
Registered &
Physical Address
Location : Suez Public Free Zone, Ataqa No.
6, Block No. 157
Town : Suez
Country : Egypt
Telephone : (20-62) 3230575 / 3230574
Facsimile : (20-62) 3230574
Mobile : (20-100) 9004959 / (20-106)
9027070
Email : sherif56@hotmail.com / assem@egbond.com
/ assem0088@hotmail.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Suez.
Branch Office
Location Description
·
22
Ahmad Tayser Street Office
premises
El Marwa Building
Misr El Gedidah
Cairo
Tel: (20-2) 26900177
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Shareed Saleh Egyptian Managing Partner
·
Sheikh Khalid
Bin Abdulrahman Bin Rashid Saudi Partner
·
Asim
Mohamed Habib Esmat - Factory
Manager
·
Hussain
Salam - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 18th
March 2008
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2158
Issued Capital : US$ 2,500,000
Paid up Capital : US$ 2,500,000
Name of Partner
(s)
·
Mohamed
Shareed Saleh
·
Sheikh
Khalid Bin Abdulrahman Bin Rashid
·
Gulf
Panel
Doha
Qatar
AFFILIATED COMPANIES
·
Panels Technology
Factory Co (Techno Panel)
PO Box: 10342
Riyadh 11433
Tel: (966-1) 2447755
Fax: (966-1) 2429040
OPERATIONS
Activities: Engaged in the manufacture of aluminium
composite panels and facia.
Subject is ISO 9001:2008 accredited.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a
workforce of 30 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 20,000,000 £E 22,750,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Shareed Saleh, Managing Partner
BANKERS
·
Misr
International Bank (MIBANK)
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
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.89 |
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UK Pound |
1 |
Rs.77.31 |
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Euro |
1 |
Rs.67.79 |
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.