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Report Date : |
22.12.2012 |
IDENTIFICATION DETAILS
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Name : |
BREGO FOR FOOD INDUSTRIES SAE |
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Registered Office : |
Industrial Zone, North Extension, Section 2, Block 12008 Cairo
Ismailia Road El Obour City Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2007 |
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Com. Reg. No.: |
7705 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Exporters of cheese, milk and other dairy products |
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No. of Employees : |
350 |
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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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Egypt |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
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 : BREGO FOR FOOD INDUSTRIES SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2007
Commercial Registration Number : 7705
Tax Card Number : 205-151-884
Issued Capital : £E 22,800,000
Paid up Capital : £E 22,800,000
Total Workforce : 350
Activities : Exporters of cheese, milk and other dairy products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
BREGO FOR FOOD INDUSTRIES SAE
Location : Industrial
Zone, North Extension, Section 2, Block 12008
Street : Cairo
Ismailia Road
Area : El Obour
City
Town : Cairo
Country : Egypt
Telephone : (20-2) 46651061
/ 46651062 / 46651063
Facsimile : (20-2)
46651064
Mobile : (20-122)
2118189
Email : info@bregoegypt.com
/ sales@bregoegypt.com
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Cairo.
Name Position
· Fathy Sobhy Kamel Chairman
· Safaa Sobhy Kamel Vice
Chairman
· Ashraf Mounir Finance
Manager
· Ashraf Ibrahim Export
Manager
Date of
Establishment : 2007
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 7705
Tax Card No. : 205-151-884
Issued Capital : £E 22,800,000
Paid up Capital : £E 22,800,000
· Safaa Sobhy Kamel 32%
· Farid Attia 20%
· Said Zin El Abden 15%
· Zakaria El Bostany 7%
· Fathy Sobhy Kamel 3%
· Local businessmen
and private investors 23%
Activities: Engaged in the export of cheese, milk and other dairy products.
Export Countries: Iraq, Saudi Arabia, Jordan, Libya, Kuwait, Yemen
and the United Arab Emirates.
Operating Trend: Steady
Subject has a workforce of approximately 350 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
60,440,000 £E
65,655,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
National Societe Generale Banque
5 Champollion
Street
Cairo
Tel: (20-2)
27707777
Fax: (20-2)
27702664
No complaints regarding subject’s payments have been reported.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.08 |
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|
1 |
Rs.89.53 |
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Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.