MIRA INFORM REPORT

 

 

Report Date :

26.04.2012

 

IDENTIFICATION DETAILS

 

Name :

SENURITA FOOD PRODUCTION CO SAE

 

 

Registered Office :

Cairo Alexandria Agricultural Road, Gharbeya, Tanta

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

19.11.1996

 

 

Com. Reg. No.:

99594, Tanta

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of general foodstuffs

 

 

No. of Employees :

2,500

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                         : SENURITA FOOD PRODUCTION CO SAE

Also Known As                                      : SENURITA FOOD INDUSTRIES FACTORY

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 19th November 1996

Commercial Registration Number            : 99594, Tanta

Issued Capital                                        : £E 116,066,200

Paid up Capital                                      : £E 116,066,200

Total Workforce                         : 2,500

Activities                                               : Manufacturers of general foodstuffs.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

 

COMPANY NAME

 

SENURITA FOOD PRODUCTION CO SAE

 

 

ALSO KNOWN AS

 

SENURITA FOOD INDUSTRIES FACTORY

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Cairo Alexandria Agricultural Road

Area                 : Gharbeya

Town                 : Tanta

Country : Egypt

Telephone         : (20-40) 3290011 / 3290023 / 3299001 / 3293052

Facsimile          : (20-40) 9111450 / 3280012

 

Premises

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Tanta.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       38 Canal El Mahmoudeya                                                                  Office premises

Dekheila

Alexandria

Tel: (20-3) 5022174 / 5024475

Fax: (20-3) 5024475

 

·       Mahala Road                                                                                    Factory premises

Gharbeya

Tanta

Tel: (20-40) 9111721

Fax: (20-40) 9111719

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Hamdy Abd El Raouf                                                          Chairman

 

·       Yehia Mounir Rizk                                                                             Vice Chairman

 

·       Helmy Ahmed Ibrahim Fesekh                                                            Managing Director

 

·       El Sayed Ahmed El Sayed Mohamed El Hawary                                  Director

 

·       Abd El Wahab Hassan Khalil                                                             Director

 

·       Mahmoud Mohamed Talaat El Hawary                                                Director

 

·       Nabil Ahmed Ibrahim Fesekh                                                              Director

 

·       Mohamed Ahmed El Shatalawy                                                          Finance Manager

 

·       Alaa Saleh                                                                                        Export Manager

 

·       Ahmed Eeid                                                                                      Purchasing Manager

 

·       Adel El Baradaie                                                                               Marketing Manager

 

·       Ahmed Effat Eid                                                                                Project Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th November 1996

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 99594, Tanta

 

Issued Capital              : £E 116,066,200

 

Paid up Capital            : £E 116,066,200

 

Name of Shareholder (s)                                                       Percentage

 

·       Americana Foodstuff & Touristic Projects Group                      80.0%

Cairo

 

·       Helmy Ahmed Ibrahim Fesekh                                                10.0%

 

·       Heba Nabil Ahmed Fesekh                                                        9.7%

 

·       Nabil Ahmed Ibrahim Fesekh                                                     0.2%

 

·       Salwa Mahmoud Badawy                                                          0.1%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of general foodstuffs, including biscuits, confectionery, snacks and chewing gum. Subject also distributes bread, cereal, cocoa products and distilled beverages.

 

Export Countries: Saudi Arabia, Kuwait, Sudan, Jordan and the United Arab Emirates.

 

Brand Names: CHICKA, NENGA, ZEINA, HERCULES, LION and AHLAWY

 

Operating Trend: Steady

 

Subject has a workforce of approximately 2,500 employees.

 

 

FINANCIAL DATA

 

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 622,704,841                         £E 672,505,263

 

Net Profit                                   £E   38,014,991                         £E   49,025,220

 

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

 

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

 

 

BANKERS

 

·       Al Watany Bank of Egypt

601 Horreya Road

Alexandria

Tel: (20-3) 5745621

Fax: (20-3) 5703282

 

 

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

Indian Rupees

US Dollar

1

Rs.52.49

UK Pound

1

Rs.84.66

Euro

1

Rs.69.25

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

 

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.