MIRA INFORM REPORT
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Report Date : |
25.02.2012 |
IDENTIFICATION DETAILS
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Name : |
AL EZZ DEKHEILA STEEL COMPANY SAE –
ALEXANDRIA (EZDK ALEX) |
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Registered Office : |
Nefertari
Building, No. 12, Agami Road, Betash, El Dekhiela, P O Box 21537, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
July 1982 |
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Com. Reg. No.: |
104918, Alexandria |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Production and export of steel |
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No. of Employees
: |
3390 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 4,000,000 |
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Status : |
Good |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Egypt |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
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 |
Company Name :
AL EZZ DEKHEILA STEEL COMPANY SAE – ALEXANDRIA
(EZDK
ALEX)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : July 1982
Commercial Registration Number : 104918, Alexandria
Tax Card Number : 100-133-789
Issued Capital : £E 1,336,441,300
Paid up Capital : £E 1,336,441,300
Total Workforce : 3,390
Activities : Production and export of steel.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 4,000,000
AL EZZ DEKHEILA STEEL
COMPANY SAE – ALEXANDRIA (EZDK ALEX)
Registered &
Physical Address
Building : Nefertari Building, No. 12
Street : Agami Road
Area : Betash, El Dekhiela
PO Box : 21537
Town : Alexandria
Country : Egypt
Telephone : (20-3) 3082300
/ 3082220 / 3082663
Facsimile : (20-3) 3082667
/ 3088623
Email : ansdk@alexnet.com.eg
Premises
Subject operates
from a large suite of offices and a steel mill that are owned and located in the
Industrial Area of Alexandria.
Branch Office
(s)
Location Description
·
21 Orabi Street Rented
office premises
Mohandessin,
Giza
Cairo
Tel: (20-2)
33453371
Fax: (20-2)
33459602
·
10
Shehab Street Rented office premises
Mohandessin,
Giza
Cairo
Tel: (20-2)
37622144
Fax: (20-2)
37620022
·
8 Amr
Street Rented office premises
Mohandessin, Giza
Cairo
Tel:
(20-2) 33030493
·
1st
Industrial Zone Rented
factory premises
10th of Ramadan City
Sharkeya
Tel: (20-15) 410460
Fax: (20-15) 410731
Name Position
·
Farouk Zaki Ibrahim Chairman
·
Alaa Abu El Kheir Managing
Director
·
Ahmed Abd El Aziz Ezz Director
·
Paul Phillip Schekeiban Director
·
Gamal
Omar Director
·
Mamdouh
El Roubi Director
·
Mohamed
Raed Director
·
Mahmoud
Abd El Nabi Director
·
Mohamed
Hassan Director
·
Akmal
Youssef Bassili Director
·
El
Sayed Imam Mahmoud Director
·
Fouad
Moustafa El Shaab Director
·
Mauwad
Hassan Director
·
Mahmoud
Latif Director
·
Amr
Ahmed Talaat Director
·
Moustafa Kamel Brekaei Finance
Manager
·
Samir Noaman Sales
Manager
·
Farouk Ibrahim Production
Manager
·
Nabil El Khattib Purchasing
Manager
·
Naser Barakat Human
Resources Manager
Date of Establishment : July 1982
(Production began in May 1986)
History : Subject was originally established in 1982
under the name of “Alexandria National Iron &
Steel Co SAE (ANSDK)”. It changed to its
current style on 24th May 2006.
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 104918, Alexandria
Tax Card No. : 100-133-789
Issued Capital : £E 1,336,441,300
Paid up Capital : £E 1,336,441,300
Name of Shareholder
(s) Percentage
·
Ezz Steel Rebars 54.59%
·
National Investment Bank 10.76%
·
Social
Insurance Fund of Public Sector 9.63%
·
Misr Insurance 7.93%
·
Ahly
Capital Holding 5.77%
·
Egyptian General Petroleum Corporation (EGPC) 4.79%
·
Industrial
& Mining Projects 2.05%
·
Local businessmen and private investors
4.48%
Activities: Engaged in the
production and export of steel.
Subject is ISO 9002 & ISO 14001 accredited.
Production
Capacity: 4,000,000 tonnes
per year.
Import
Countries: Europe, United
States of America and Asia.
Export
Countries: Saudi Arabia, Yemen, the United States, Canada, Spain,
Sudan and China.
Brand Names: EZDK and EZZ
STEEL.
Operating Trend: Steady
Subject has a workforce
of approximately 3,390 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 9,853,179,827 £E 11,639,005,731
Local sources
consider subject’s financial condition to be Good.
·
Banque
Misr
El Hanoville Street
Agami
Alexandria
Tel: (20-3) 24302697
·
National
Bank of Egypt
21, Tosson Street
Alexandria
Tel: (20-3) 24824802 / 24825715
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 24824643 / 24834255
Fax: (20-3) 24832240
·
Egyptian
American Bank
14 Salah Salem Street
PO Box: 1737
Alexandria
Tel: (20-3) 24835008
·
Banque
du Caire SAE
19
Adly Street
Cairo
Tel: (20-2)
33926915
Fax: (20-2)
33951713
No complaints
regarding subject’s payments have been reported.
Al Ezz Dekheila Steel Company
SAE - Alexandria (Ezdk Alex) has been in business for over 29 years and is the largest steel producer and
exporter in Egypt with 5 mills and a 41% market share.
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 and the above credit figure is
deemed admissible.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
UK Pound |
1 |
Rs.77.19 |
|
Euro |
1 |
Rs.65.57 |
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.