MIRA INFORM REPORT

 

 

Report Date :           

05.01.2012

 

IDENTIFICATION DETAILS

 

Name :

GIZA CABLES EL SEWEDY

 

 

Registered Office :

1 El Fayoum Street, El Korba, Heliopolis, Cairo 11341

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1985

 

 

Com. Reg. No.:

63660, Giza

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture and export of aluminum and copper electrical cables, wires and conductors

 

 

No. of Employees :

600

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 3,000,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : GIZA CABLES EL SEWEDY

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1985

Commercial Registration Number            : 63660, Giza

Issued Capital                                        : £E 157,675,900

Paid up Capital                                      : £E 157,675,900

Total Workforce                                     : 600

Activities                                               : Manufacture and export of aluminum and copper electrical cables,

wires and conductors.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 3,000,000

 

 

COMPANY NAME

 

GIZA CABLES EL SEWEDY

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 1 El Fayoum Street

Area                 : El Korba, Heliopolis

Town                 : Cairo 11341

Country             : Egypt

Telephone         : (20-2) 24145019 / 24192912 / 24192840

Facsimile          : (20-2) 24192913

Mobile               : (20-12) 2454959 / 2455232

Email                : matta@gizaelsewedy.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

 

·       Cairo - Alexandria Desert Road, Km. 28                                              Owned factory premises

     Abu Rawash Industrial Zone

     Cairo

     Tel: (20-2) 35390021 / 35390023 / 35391885

     Fax: (20-2) 35390021 / 35390023

 

·       6 Ibn Malek Street                                                                             Rented office premises

Giza

     Cairo

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Hesham Helal Sadek El Sewedy                                                        Chairman

 

·       Samy El Meleigy                                                                               Vice Chairman

 

·       Sayed Mohsen                                                                                  Director

 

·       Ahmed Eissa                                                                                    Director

 

·       El Sayed El Sayed El Gowhary                                                          Director

 

·       Mohamed Ali Soliman                                                                        Director

 

·       Abd El Naser Hussein                                                                       General Manager

 

·       Medhat El Maghrabi                                                                          Finance Manager

 

·       Aymen Abd El Alim                                                                           Production Manager

 

·       Khaled Roushdy                                                                                Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1985

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 63660, Giza

 

Industrial Reg. No.       : 131870

 

Tax Card No.               : 100-072-135

 

Authorised Capital       : £E 200,000,000

 

Issued Capital              : £E 157,675,900

 

Paid up Capital            : £E 157,675,900

 

Name of Shareholder (s)

 

·       Hesham Helal Sadek El Sewedy

 

·       Saudi Egyptian for Investment & Finance

     Egypt

 

·       Investmar Investment

Egypt

 

·       Egytech Cables & Communication Networks

Egypt

 

·       International Metallurgy (Metaleca)

Egypt

 

·       Electrotec Engineering & Distribution

Egypt

 

·       Wataneya Cables & Electric Industries

Egypt

 

·       Nimos Engineering & Agricultural Development

Egypt

 

·       Private investors

 

 

AFFILIATED COMPANIES

 

·       Energya Power Cables El Sewedy

1 El Fayoum Street

El Korba, Heliopolis

Cairo

Tel: (20-2) 24195064 / 24195065 / 24195067

Fax: (20-2) 24195066

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and export of aluminum and copper electrical cables, wires and conductors.

 

Import Countries: Sweden, Germany and Austria.

 

Export Countries: Jordan, Yemen, Sudan, Saudi Arabia, Mauritania and Ethiopia.

 

Brand Names: GIZA CABLES

 

Operating Trend: Steady

 

Subject has a workforce of approximately 600 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                £E 550,300,000                         £E 640,000,000

 

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

 

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

 

 

BANKERS

 

·       Egyptian Gulf Bank

El Orman Plaza Building

8-10 Ahmed Nessim Street

PO Box: 56

Cairo

Tel: (20-2) 33606580 / 33606467

Fax: (20-2) 33420265 / 33606512

 

·       Barclays Bank Egypt

12, Midan El Sheikh Youssef Street

Garden City

PO Box: 110, Maglis El Shaab

Cairo

Tel: (20-2) 33542195 / 33549415 / 33549422

Fax: (20-2) 33552746

 

·       Suez Canal Bank

14 Wadi El Nile Street

Nahda Square

Maadi

PO Box: 249

Cairo

Tel: (20-2) 33582681

Fax: (20-2) 33582274

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.14

UK Pound

1

Rs.83.08

Euro

1

Rs.69.25

 

 

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.