MIRA INFORM REPORT
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Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
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Name : |
ZAHRA CHEMICALS SAE |
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Registered Office : |
El Shatre El Khames,
Zahraa El Maadi Industrial Area, Plot No. 113, 5th Section, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
13.04.2005 |
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Com. Reg. No.: |
13275, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of inks for printing and writing |
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 – March 31st, 2011
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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 : ZAHRA CHEMICALS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 13th April 2005
Commercial Registration Number : 13275, Cairo
Tax Card Number : 215-589-874
Issued Capital : £E 30,000,000
Paid up Capital : £E 30,000,000
Total Workforce : 54
Activities : Manufacture of inks for printing and writing
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
COMPANY NAME
ZAHRA CHEMICALS SAE
company ADDRESS
Registered &
Physical Address
Location : El Shatre El Khames, Zahraa El
Maadi Industrial Area, Plot No. 113, 5th Section
Town : Cairo
Country : Egypt
Telephone : (20-2) 25218036 / 25218017
Facsimile : (20-2) 25218037
Mobile : (20-12) 1371001 / (20-10)
6323432 / 3916694
Email : khaled@zachrachem.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Dr Ahmed Mohamed Abu El Wafa Chairman
·
Khaled Ahmed Mohamed Abu El Wafa Director
·
Asma Ahmed Mohamed Abu El Wafa Director
·
Amer Mahmoud Commercial
Manager
·
Tariq
Saudi Technical
Manager
·
Reda Ismail Finance
Manager
·
Mahmoud
Abd El-Wahab Accounting
Manager
·
Hesham
Saadawy Sales
Manager
·
Ahmed
Shaheen Quality
Manager
LEGAL FORM & OWNERS
Date of Establishment : 13th
April 2005
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 13275, Cairo
Tax Card No. :
215-589-874
Issued Capital : £E 30,000,000
Paid up Capital : £E 30,000,000
Name of Shareholder
(s) Percentage
·
Dr Ahmed Mohamed Abu El Wafa 95.0%
·
Asma
Ahmed Mohamed Abou El Wafa 2.5%
·
Tahani
Attia 2.5%
AFFILIATED COMPANIES
·
El
Madina Chemicals
Salah Salem Street
Cairo
Tel: (20-2) 35313955
Fax: (20-2) 35313954
OPERATIONS
Activities: Engaged in the manufacture of inks for
printing and writing.
Import
Countries: China, India,
Brazil and Germany
Export
Countries: Algeria, Turkey,
Libya, Morocco and Tunisia
Operating Trend: Steady
Subject has a
workforce of 54 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 16,434,612 £E 22,936,480
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Egyptian
Saudi Finance Bank
60 Mohy El Din Abu El Ezz Street
Giza
Cairo
Tel: (20-2) 27481222
Fax: (20-2) 27611436
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.47.84 |
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UK Pound |
1 |
Rs.75.40 |
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Euro |
1 |
Rs.65.68 |
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.