MIRA INFORM REPORT

 

 

Report Date :

23.08.2012

 

IDENTIFICATION DETAILS

 

Name :

AL NOUR COMPANY FOR DAIRY INDUSTRIES SAE

 

 

Registered Office :

1 El Obour Buildings, Salah Salem Street, Nasr City, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

2004

 

 

Com. Reg. No.:

4582

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of processed cheese

 

 

No. of Employees :

200 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                                    : AL NOUR COMPANY FOR DAIRY INDUSTRIES SAE

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 2004

Commercial Registration Number           : 4582

Tax Card Number                                  : 572-618-476

Issued Capital                                       : £E 13,237,700

Paid up Capital                                     : £E 13,237,700

Total Workforce                                     : 200

Activities                                               : Manufacturers of processed cheese

Financial Condition                                : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

 

COMPANY NAME

 

AL NOUR COMPANY FOR DAIRY INDUSTRIES SAE

 

 

company ADDRESS

 

Registered & Physical Address

Building                        : 1 El Obour Buildings

Street               : Salah Salem Street

Area                 : Nasr City

Town                : Cairo

Country             : Egypt

Telephone         : (20-2) 22623888 / 22623999 / 24030373 / 24025753 / 22619116 / 24054827

Facsimile          : (20-2) 22623888 / 22623202

Email                : mohamedhalawa@acffi.com

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       El-Obour City                                                                                   Factory premises

Industry Zone

Block 12008, Plot No. 16, 17, 18

     Cairo Ismailia Road

     Cairo

     Tel:  (20-2) 46650005 / 46650006 / 46650007

     Fax: (20-2) 46650008

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

·       Mohamed Nabil Halawa                                                                     Chairman

·       Michail Aliva                                                                                     Director

·       Nere Mare                                                                                        Director

·       Mohamed Nabil Mohamed Sayed Halawa                                          Director

·       Nabil Mohamed Sayed Halawa                                                          Director

·       Maged Sadek                                                                                   Finance Manager

·       Ahmad Lofty                                                                                    Sales Manager

·       Ghada Medhat                                                                                  Marketing Manager

·       Karim Samir                                                                                     Export Manager

·       Laurent Covet                                                                                   Factory Manager

·       Noha El Ahl                                                                                      Purchasing Manager

·       Mona Mohamed                                                                               Office Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2004

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 4582

 

Tax Card No.                : 572-618-476

 

Authorised Capital       : £E 75,000,000

 

Issued Capital              : £E 13,237,700

 

Paid up Capital            : £E 13,237,700

 

Name of Shareholder (s)                                                      Percentage

 

·       Lactalis International SNC                                                      51%

94600 Choisy Le Roi

France

Tel: (33-1) 49785600

       Fax: (33-1) 48527260

 

·       Egyptian Businessmen and private investors                         49%

 

 

AFFILIATED COMPANIES

 

·       Best Cheese Company For Dairy Products SAE

     Industrial Zone A2

     Sharkeya

     Tenth of Ramadan City

     Tel: (20-15) 412271 / 412270

     Fax: (20-15) 412272

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of dairy products, specialising in processed cheese.

 

Production Capacity: 24,000 tonnes per annum

 

Import Countries: France and India

 

Export Countries : Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Iraq, Libya, Yemen, Israel, Oman, Syria,

       Lebanon, Madagascar, Kuwait, Jordan, Mauritius, Sudan and Pakistan.

 

Brand Names: PRESIDENT

 

Operating Trend: Steady

 

Subject has a workforce of approximately 200 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 318,257,225                         £E 444,691,801

 

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

 

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

 

 

BANKERS

 

·       National Societe Generale Bank

5 Champollion Street           

Cairo

Tel: (20-2) 27707777

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                               December 2007

Amount overdue                                    0

Payment terms                                      120 days

Payment Method                                   Letters of Credit

Paying record                                       No Complaints

Currency                                               Euros

 

 

GENERAL COMMENTS

 

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.51

UK Pound

1

Rs.87.60

Euro

1

Rs.69.17

 

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.