MIRA INFORM REPORT

 

 

Report Date :           

29.10.2011

 

IDENTIFICATION DETAILS

 

Name :

EGYPTIAN COMPANY FOR ADVANCED TECHNOLOGY SAE (ECAT)

 

 

Registered Office :

MDC Building, 4th Floor, 12 Syria Street, Mohandessin, Cairo 12411

 

 

Country :

Egypt 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

16.08.1998

 

 

Com. Reg. No.:

1277, Giza

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture of advertisement panels and printing inks, as well as offering printing services

 

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$ 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 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                                     : EGYPTIAN COMPANY FOR ADVANCED TECHNOLOGY SAE (ECAT)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Start Date                                             : 1996

Registration Date                                   : 16th August 1998

Commercial Registration Number            : 1277, Giza

Authorised Capital                                  : £E 5,000,000

Issued Capital                                        : £E 5,000,000

Paid up Capital                                      : £E 5,000,000

Total Workforce                                     : 25

Activities                                               : Manufacture of advertisement panels and printing inks, as well as

offering printing services.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Robert Emad Atef, Finance Manager

 

COMPANY NAME

 

EGYPTIAN COMPANY FOR ADVANCED TECHNOLOGY SAE (ECAT)

 

 

company ADDRESS

 

Registered & Physical Address

Building             : MDC Building, 4th Floor

Street               : 12 Syria Street

Area                 : Mohandessin

Town                 : Cairo 12411

Country             : Egypt

Telephone         : (20-2) 33356951 / 33382552 / 33382553

Facsimile          : (20-2) 33356953

Mobile               : (20-12) 2106166

Email                : info@egygrafx.com

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       4th Industrial Zone, Piece No. 122G                                                     Factory premises

Sadat City

Tel: (20-48) 2612181 / 2612180

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Ashraf Raouf Shalaby                                                                        Managing Director

 

·       Reem Sami Saad                                                                              Director

 

·       Youssef Shalabi                                                                                Director

 

·       Ihab Saad Zaghloul                                                                            General Manager

 

·       Robert Emad Atef                                                                              Finance Manager

 

·       Shady Samir                                                                                     Marketing Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1996, however subject was registered on 16th August 1998

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 1277, Giza

 

Authorised Capital       : £E 5,000,000

 

Issued Capital              : £E 5,000,000

 

Paid up Capital            : £E 5,000,000

 

Name of Shareholder (s)                                              Percentage

 

·       Ashraf Raouf Shalaby                                                     80%

 

·       Reem Sami Saad                                                           15%

 

·       National Investment Co (SONID)                                        5%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of advertisement panels and printing inks, as well as offering printing

     services.

 

Import Countries: United States of America and Europe

 

Operating Trend: Steady

 

Subject has a workforce of 25 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 15,000,000                           £E 17,250,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       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

 

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 and the above credit figure is within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.82

UK Pound

1

Rs.78.57

Euro

1

Rs.69.29

 

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.