MIRA INFORM REPORT

 

 

Report Date :

02.09.2011

 

IDENTIFICATION DETAILS

 

Name :

CROWN COMPANY FOR MANUFACTURING AND TRADING FOODSTUFF

 

 

Formerly Known As :

ABD EL AZIZ HASSAN NASSER COMPANY

 

 

Registered Office :

Misr Assiut Agricultural Road Manial Sheiha, Giza Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1991

 

 

Com. Reg. No.:

92052, Giza

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Packaging, wrapping and distribution of foodstuffs such as tea and biscuits.

 

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$ 250,000

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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                                     : CROWN COMPANY FOR MANUFACTURING AND TRADING

                                                              FOODSTUFF

Trading As                                             : CROWN COMPANY

Also Known As                                      : ABD EL AZIZ HASSAN NASSER COMPANY

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1991

Commercial Registration Number                        : 92052, Giza

Issued Capital                                        : £E 35,000,000

Paid up Capital                                      : £E 35,000,000

Total Workforce                                     : 900

Activities                                               : Packaging, wrapping and distribution of foodstuffs such as tea and biscuits.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 250,000

 

COMPANY NAME

 

CROWN COMPANY FOR MANUFACTURING AND TRADING FOODSTUFF

 

TRADING AS: CROWN COMPANY

 

ALSO KNOWN AS: ABD EL AZIZ HASSAN NASSER COMPANY

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Misr Assiut Agricultural Road

Area                 : Manial Sheiha, Giza

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 35703622 / 38092232

Facsimile          : (20-2) 35703633 / 38092536

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Maarouf Tower                                                                                  Rented sales office

33 Ramsis Street

Daher

     Cairo

     Tel: (20-2) 25763088 / 25766209

     Fax: (20-2) 25746095

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Riyad Maamoun Nasser                                                                     Managing Director

 

·       Adel Abd El Fattah Nasser                                                                 Director

 

·       Mohamed Abd El Aziz Nasser                                                            Director

 

·       Hassan Mohamed Nasser                                                                  Director

 

·       Maher Shaker Maamoun Nasser                                                         Director

 

·       Abd El Nasser Abd El Aziz Nasser                                                     Director

 

·       Ossama Abd El Fattah Nasser                                                           Director

 

·       Ayman Riyad Nasser                                                             Director

 

·       Wael Riyad Nasser                                                                           Director

 

·       Salah Abu Tabl                                                                                 Director

 

·       Adel Abu Zeid                                                                                   Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1991

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 92052, Giza

 

Issued Capital              : £E 35,000,000

 

Paid up Capital            : £E 35,000,000

 

Name of Shareholder (s)

 

·       Riyad Maamoun Nasser

 

·       Adel Abd El Fattah Nasser

 

·       Mohamed Abd El Aziz Nasser

 

·       Hassan Mohamed Nasser

 

·       Maher Shaker Maamoun Nasser

 

·       Abd El Nasser Abd El Aziz Nasser

 

·       Ossama Abd El Fattah Nasser

 

·       Ayman Riyad Nasser

 

·       Wael Riyad Nasser

 

OPERATIONS

 

Activities: Engaged in the packaging, wrapping and distribution of foodstuffs such as tea and biscuits.

 

Import Countries: Sri Lanka, India and Europe.

 

Brand Names: CROWN, LORD and EL TAG

 

Operating Trend: Steady

 

Subject has a workforce of approximately 900 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 120,747,622                         £E 130,017,069

 

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

 

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

 

 

BANKERS

 

·       Arab International Bank

35 Abd El Khalek Sarwat Street

Cairo

Tel: (20-2) 33916391

Fax: (20-2) 33916233

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              February 2006

Credit amount                                        100,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

GENERAL COMMENTS

 

Crown Company For Manufacturing And Trading Foodstuff has a good reputation in the local market and is engaged in the packaging, wrapping and distribution of foodstuffs such as tea and biscuits.

 

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 deemed admissible.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.01

UK Pound

1

Rs.75.42

Euro

1

Rs.66.69

 

 

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.