|
Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
FLEX P FILM |
|
|
|
|
Registered Office : |
Engineering
Square, North Extension of Industrial Zone, Plot 3, 6th of October
City |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
2009 |
|
|
|
|
Com. Reg. No.: |
36616, Cairo |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of flexible
plastic films for packaging and wrapping |
|
|
|
|
No. of Employees : |
262 |
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$ 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 30, 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 |
Company Name : FLEX P FILM
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 2009
Commercial
Registration Number : 36616,
Cairo
Tax Card Number : 315-666-064
Issued Capital : £E
268,000,000
Paid up Capital : £E
268,000,000
Total Workforce : 262
Activities :
Manufacture of flexible plastic films for packaging and wrapping
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 500,000
FLEX P FILM EGYPT
Location : Engineering Square, North
Extension of Industrial Zone, Plot 3
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38283000
Facsimile : (20-2) 38283050
Mobile : (20-100) 2137239
Email : kaleem.nadwi@gmail.com
Subject operates
from a large suite of offices and a warehouse and a factory that are rented and
located in the Industrial Area of 6th of October City.
Name Position
·
Ashok
Kumar Chapurvesi Chairman
·
Pradeep
Tyle Managing
Director
·
Sanjay
Tiku General
Manager
·
Nikhil
Kantan Accounts
Manager
·
Essam
Hegazy Administration
Manager
·
Ashraf
Amer Sales
Manager
·
Diaa
Kamel Eldin Public
Relations Manager
Date of Establishment : 2009
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 36616, Cairo
Tax
Card No. : 315-666-064
Issued Capital : £E 268,000,000
Paid up Capital : £E 268,000,000
·
Ashok
Kumar Chapurvesi
·
Pradeep
Tyle
·
Uflex
Group
India
·
Flex
Middle East FZE
United Arab Emirates
Activities: Engaged in the manufacture of flexible
plastic films for packaging and wrapping.
Import
Countries: Germany, Saudi
Arabia, France, United Arab Emirates, Italy, India and the European Union.
Export
Countries: United States of
America, Africa, European Union and Asia.
Subject has a workforce
of approximately 262 employees.
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
National
Bank of Abu Dhabi
Nile Tower, 18th Floor
21 Giza Street
Cairo
Tel: (20-2) 33609724
No complaints
regarding subject’s payments have been reported.
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.50.56 |
|
|
1 |
Rs.81.04 |
|
Euro |
1 |
Rs.67.48 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.