Revised report
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Report Date : |
21.04.2012 |
IDENTIFICATION DETAILS
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Name : |
EL RASHIDI EL MIZAN SWEETS FACTORY |
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Formerly Known As : |
RASHIDI EL MIZAN CONFECTIONERY FACTORIES
DEVELOPMENT |
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Registered Office : |
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Country : |
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Year of Establishment : |
1881 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Production and processing of foodstuffs |
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No. of Employees : |
400 |
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$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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) |
|
Egypt |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 : EL RASHIDI EL MIZAN SWEETS FACTORY
Also Known As : RASHIDI EL MIZAN CONFECTIONERY FACTORIES DEVELOPMENT
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1881
Issued Capital : £E 30,000,000
Paid up Capital : £E 30,000,000
Total Workforce : 400
Activities : Production and processing of foodstuffs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 600,000
EL RASHIDI EL MIZAN SWEETS FACTORY
RASHIDI EL MIZAN CONFECTIONERY FACTORIES DEVELOPMENT
Registered &
Physical Address
Street : 176-178 Port
Said Street
Area : El Sayeda
Zeinab Mounira
Town : Cairo
Country : Egypt
Telephone : (20-2) 23903472
/ 23903474 / 23903477 / 23929481
Facsimile : (20-2)
23903470 / 23931615
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Suburban Business Area of Cairo.
Branch Office (s)
Location Description
· 2nd Industrial
Zone, Block 38,39 Owned
factory premises
6th of
October City
Tel:
(20-2) 8332081 / 83332082 / 8334007
Fax:
(20-2) 8330557 / 8334008 / 8342525
Name Position
· Nehad Ezzat
Mohamed Hussein El Rashidi Chairman
· Mohamed Mokhtar El
Rashidi Director
· Ahmed Mokhtar El
Rashidi Director
· Alia Ahmed Director
· Fawzy Azzam Director
· Hafez Mahmoud Director
· Ahmed Abd El
Moneim General
Manager
· Mohamed Nasr El
Din Sales
Manager
· Magdy Bahgat Production
Manager
· Hanafy Awad Administration
Manager
Date of
Establishment : 1881
Legal Form : Egyptian Joint
Stock Company
Issued Capital : £E 30,000,000
Paid up Capital : £E 30,000,000
Name of Shareholder
(s)
· Nehad Ezzat
Mohamed Hussein El Rashidi
· Mohamed Mokhtar El
Rashidi
· Ahmed Mokhtar El
Rashidi
· Members of the El
Rashidi family
Activities: Engaged in the production and processing of foodstuffs, specialising in
dried confectionery, biscuits,
chocolate, lollipops and wafer biscuits.
Import Countries: Europe and Asia
Brand Names : MONTY, TWENTY, SUPER DELIGHT and MESTRO WAFER
Subject has a workforce of approximately 400 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 Societe Generale Bank
5 Champollion
Street
Cairo
Tel: (20-2)
27707777 / 27707000
Fax: (20-2)
27707799
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.51.99 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.63.40 |
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 |
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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 |
|
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.