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Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
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Name : |
EXPRESS FACTORY FOR PLASTIC TRADING & INDUSTRY |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.07.1997 |
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Com. Reg. No.: |
406 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of packaging and enfolding equipment, bags and plastic sacks. |
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No. of Employees : |
150 |
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$ 500,000 |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company Name : EXPRESS FACTORY FOR PLASTIC TRADING & INDUSTRY
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1st July 1997
Commercial Registration Number : 406
Tax Card Number : 517-027-254
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 150
Activities : Manufacturers of packaging and enfolding equipment, bags and plastic
sacks.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Mashour Bilal, Financial Controller
EXPRESS FACTORY FOR PLASTIC TRADING & INDUSTRY
Street : 24 El Gamea
Street, El Zeitoun El Gharbeya Street
Area : El Matariya
Town : Cairo
Country : Egypt
Telephone : (20-2) 22836942
Facsimile : (20-2)
22836942
Mobile : (20-12) 9405888
/ 9415444 / (20-11) 10001575
Email : expressplast@yahoo.com
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
· Trolly Street Factory
premises
Zahraa, El Salam
City
Cairo
Tel: (20-2)
26996051
Fax: (20-2)
26991755
Name Position
· Ashraf Hassan
Tawfik Managing
Partner
· Ayman Hassan
Tawfik Partner
· Mashour Bilal Financial
Controller
· Nabil Abu El Salam Sales
Manager
Date of
Establishment : 1st
July 1997
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 406
Tax Card No. : 517-027-254
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
· Ashraf Hassan
Tawfik
· Ayman Hassan
Tawfik
Activities: Engaged in the manufacture of packaging and enfolding equipment, bags
and plastic sacks.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of approximately 150 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E
28,425,000 £E
29,700,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel: (20-2)
33912711 / 33912106
Fax: (20-2)
33919779
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.66 |
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|
1 |
Rs.81.79 |
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Euro |
1 |
Rs.67.18 |
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 |
|
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 |
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-- |
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.