MIRA INFORM REPORT

 

 

Report Date :           

20.10.2011

 

IDENTIFICATION DETAILS

 

Name :

ENERGIZER EGYPT SAE

 

 

Registered Office :

21 Cairo Helwan Agricultural Road, Maadi, P O Box 567, Cairo 11728

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1977

 

 

Com. Reg. No.:

21188, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture and marketing of dry cell batteries

 

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$ 1,500,000

 

 

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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                         :          

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1977

Commercial Registration Number            : 21188, Cairo

Issued Capital                                        : £E 6,550,600

Paid up Capital                                      : £E 6,550,600

Total Workforce                                     : 320

Activities                                               : Manufacture and marketing of dry cell batteries.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,500,000

 

COMPANY NAME

 

ENERGIZER EGYPT SAE

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 21 Cairo Helwan Agricultural Road

Area                 : Maadi

PO Box             : 567

Town                 : Cairo 11728

Country             : Egypt

Telephone         : (20-2) 23587947 / 23596326 / 23586057 / 23581390

Facsimile          : (20-2) 23585194 / 23786725

 

Premises

Subject operates from a large suite of offices and a warehouse that are rented and located in the Suburban Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Cairo - Alexandria Desert Road, Km. 34                                              Owned factory premises

Amreya

     Alexandria

     Tel: (20-3) 4481911 / 4480091 / 4481918

     Fax: (20-3) 4483304

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Magdy Ibrahim Adly                                                                           Chairman

 

·       Makram Osman                                                                                Director

 

·       Lacina Coulipaly                                                                                Director

 

·       Nadia Niazy Moustafa                                                                        Director

 

·       Rada Kreshnan                                                                                 Director

 

·       Mohamed El Mofty                                                                            Director

 

·       Ahmed Kamel                                                                                   Finance Manager

 

·       Faten Ibrahim Selim                                                                          Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1977

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 21188, Cairo

 

Issued Capital              : £E 6,550,600

 

Paid up Capital            : £E 6,550,600

 

Name of Shareholder (s)                                              Percentage

 

·       Energizer Holdings Inc                                                  63.42%

       533 Maryville University Drive
St. Louis, MO 63141
United States of America
Tel: (1-314) 9852000 
Fax: (1-314) 9852200

 

·       Sofico Economic Development                                      15.00%

37 Talaat Harb Street
Cairo
Tel: (20-2) 3925398 / 3925007
Fax: (20-2) 3933175 

·       National Societe Generale Bank                                      6.68%

5 Champollion Street

     Cairo

     Tel: (20-2) 27707000

     Fax: (20-2) 25784535

 

·       Commercial International Investment Co SAE (CIIC)          0.15%

9 Mohamed Fahmy Street
Garden City

Cairo

Tel: (20-2) 7923875/6/6
Fax: (20-2) 7923870 

 

·       Egyptian businessmen and private Investors                   14.75%

 

OPERATIONS

 

Activities: Engaged in the manufacture and marketing of dry cell batteries.

 

Import Countries: United States of America

 

Brand Names : EVERREADY and ENERGIZER

 

Operating Trend: Steady

 

Subject has a workforce of approximately 320 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 178,197,938                         £E 193,825,697

 

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

 

·       HSBC Bank Egypt SAE

     Abu El Feda Building

     3 Abu El Feda Street

     Zamalek

     Cairo

     Tel: (20-2) 37359286 / 37354849

     Fax: (20-2) 37361457

 

 

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.49.18

UK Pound

1

Rs.77.49

Euro

1

Rs.67.96

 

 

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.