MIRA INFORM REPORT

 

 

Report Date :

22.08.2012

 

IDENTIFICATION DETAILS

 

Name :

BEST CHEESE COMPANY FOR DAIRY PRODUCTS SAE

 

 

Registered Office :

Industrial Zone A2, Sharkeya, Tenth of Ramadan City

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1995

 

 

Com. Reg. No.:

16839, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

                  

Line of Business :

Production and export of processed cheese

 

 

No. of Employees :

280 employees

 

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

 

 

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                                    : BEST CHEESE COMPANY FOR DAIRY PRODUCTS SAE

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 1995

Commercial Registration Number           : 16839, Cairo

Issued Capital                                       : £E 32,037,250

Paid up Capital                                     : £E 32,037,250

Total Workforce                                     : 280

Activities                                               : Production and export of processed cheese

Financial Condition                                : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

COMPANY NAME

 

BEST CHEESE COMPANY FOR DAIRY PRODUCTS SAE

 

 

company ADDRESS

 

Registered & Physical Address

Location           : Industrial Zone A2

Area                 : Sharkeya

Town                : Tenth of Ramadan City

Country             : Egypt

Telephone         : (20-15) 412271 / 412270 / 412273 / 412274

Facsimile          : (20-15) 412272

 

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of the Tenth of Ramadan City.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       1 El Obour Buldings                                                                         Rented office premises

     Salah Salem Road

     Nasr City

     Cairo

     Tel: (20-2) 22623888 / 22623999

     Fax: (20-2) 22632888

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mohamed Nabil Halawa                                                                     Chairman

 

·       Afifi Ismail Afifi                                                                                Director

 

·       Nabil Halawa                                                                                    General Manager

 

·       Maged Ahmed Sadek                                                                       Finance Manager

 

·       Ahmed Lotfy                                                                                                Sales Manager

 

·       Said Zeid                                                                                         Factory Manager

 

·       Covet Laurent                                                                                   Production Manager

 

·       Adel Abd El Moneim Deraz                                                               Administration Manager

 

·       Noha El Ahl                                                                                      Purchasing Manager

 

·       Nancy Ibrahim                                                                                  Office Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1995

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 16839, Cairo

 

Issued Capital              : £E 32,037,250

 

Paid up Capital            : £E 32,037,250

 

Name of Shareholder (s)                                                      Percentage

 

·       Lactalis International SNC                                                      51%

94600 Choisy Le Roi

France

Tel: (33-1) 49785600

       Fax: (33-1) 48527260

 

·       Mohamed Nabil Halawa                                                         49%

 

 

AFFILIATED COMPANIES

 

·       Al Nour Company For Dairy Industries SAE

     1 El Obour Buildings

     Salah Salem Street

     Nasr City

     Cairo

     Tel: (20-2) 22623888 / 22623999 / 24030373

     Fax: (20-2) 22623888

 

 

OPERATIONS

 

Activities: Engaged in the production and export of processed cheese in portions under license of Group Lactalis

     (France).

 

                  Subject was accredited with the ISO and HACCP certificates in 2006

 

Production Capacity : 22,000 tons per year

 

Import Countries: Europe and Asia

 

Export Countries : Saudi Arabia, Iraq, Libya, Yemen, Palestine, United Arab Emirates,

Oman, Syria, Lebanon, Madagascar, Kuwait, Jordan, Qatar, Mauritius, Sudan, Pakistan, and Bahrain.

 

Brand Names: TEAMA & PRESIDENT

 

Operating Trend: Steady

 

Subject has a workforce of approximately 280 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 391,854,643                         £E 407,187,339

 

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

 

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

 

 

BANKERS

 

·       Arab African Bank

5 El Saraya El Kobira Square

     PO Box: 60, Magles El Shaab

     Cairo

     Tel: (20-2) 33545094

     Fax: (20-2) 33558493

 

·       National Bank of Abu Dhabi

Nile Tower, 18th Floor

21 Giza Street

Cairo

Tel: (20-2) 33609724

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                               December 2006

Amount overdue                                    0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                       No Complaints

Currency                                               Pounds Sterling

 

 

GENERAL COMMENTS

 

Best Cheese Company For Dairy Products SAE has been in business since 1995 and is engaged in the production and export of processed cheese in portions.

 

During the course of this investigation nothing detrimental was uncovered regarding the manner in which payment obligations are fulfilled. The operating history is clear and the financial situation is satisfactory. As such we are of the opinion that the subject is a fair trade risk and the above credit figure is within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.54

UK Pound

1

Rs.87.39

Euro

1

Rs.68.72

 

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.