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Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
PENTEC ARABIA CO FOR STATIONERY MANUFACTURING (PENTEC) |
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|
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Registered Office : |
5 Kamel Sedky Street, El Fagala, PO Box: 317, Cairo, |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1993 |
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Legal Form : |
General Partnership |
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line of business
: |
Manufacturers of stationery and pens |
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No. of Employees : |
60 |
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 : |
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) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EGYPT - ECONOMIC OVERVIEW
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed to public discontent. After unrest erupted in January 2011, the Egyptian Government drastically increased social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction are among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow at least through 2012. The government is utilizing foreign exchange reserves to support the Egyptian pound and Egypt may seek a loan from the International Monetary Fund.
|
Source
: CIA |
Company Name : PENTEC
ARABIA CO FOR STATIONERY MANUFACTURING
(PENTEC)
Country of Origin :
Egypt
Legal Form :
General Partnership
Registration Date :
1993
Partners Capital : £E 10,000,000
Total Workforce :
60
Activities :
Manufacturers of stationery and pens
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
PENTEC ARABIA CO FOR STATIONERY MANUFACTURING (PENTEC)
Registered &
Physical Address
Street : 5 Kamel Sedky Street
Area : El Fagala
PO Box : 317
Town : Cairo
Country : Egypt
Telephone : (20-2) 25890167
Facsimile : (20-2)
25890167
Mobile : (20-10)
5460500
Premises
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
2nd Industrial Zone, Sector 221/4, Giza Factory
premises
6th of October City
Tel: (20-2) 38331062
Fax: (20-2) 38320705
Name Position
Moustafa Ismail Hamdy Managing
Partner
Ismail Hamdy Partner
Mohamed El Sherbiny Sales
Manager
Mahmoud Mohamed Thabet Accounts
Manager
Date of Establishment : 1993
Legal Form : General
Partnership
Partners Capital : £E 10,000,000
Name of Partner
(s)
Moustafa Ismail Hamdy
Ismail Hamdy
Activities: Engaged in the
manufacture of stationery and pens.
Import Countries: Europe
and the Far East.
Brand Names: ROTO VX, ROTO GLASE, ROTO MATRIX,
ROTO GELION, ROTO EXTRA, ROTO POUCH, ROTO BOARD, ROTO MARKER and ROTO
HIGHLIGHTER
Operating Trend: Steady
Subject has a workforce of 60 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
10,860,000 £E
12,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Export Development Bank of Egypt
Plot 3/1
4th Industrial Region
Giza
6th of October City
Tel: (20-2) 38330577 / 38330599
Fax: (20-2) 38330570 / 38330551
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.55.65 |
|
UK Pound |
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.