MIRA
INFORM REPORT
|
Report Date : |
06.01.2012 |
IDENTIFICATION DETAILS
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Name : |
ABB TRANSFORMERS SAE |
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Registered Office : |
ABB Building 7 Dr Mohamed Kamel Hussein Street New Nozha, Heliopolis
PO Box 11771 Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2005 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of low and medium voltage transformers. |
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No. of Employees : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 2,000,000 |
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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 30, 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 : ABB TRANSFORMERS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2005
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
Total Workforce : 250
Activities : Manufacture of low and medium voltage transformers.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 2,000,000
COMPANY NAME
ABB TRANSFORMERS SAE
ADDRESS
Registered & Physical Address
Building : ABB Building
Street : 7 Dr Mohamed
Kamel Hussein Street
Area : New Nozha,
Heliopolis
PO Box : 11771
Town : Cairo
Country : Egypt
Telephone : (20-2) 26222665
/ 22940199
Facsimile : (20-2) 26222664
/ 22940198
Premises
Subject operates from a large suite of offices that are owned and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· B3 Industrial
Zone, Plot 31, 32, 33 Factory
premises
10th Of
Ramadan
Sharkeya
Tel: (20-15)
376646 / 376647 / 376648 / 376649
Fax: (20-15)
376645
KEY PRINCIPALS
Name Position
· Bassim Samy
Youssef Chairman
· Mohamed Saad El
Din Hassan El Tawdi Managing
Director
· Mary Khairy Fahmy Director
· Kieran Kenealy Director
· Ahmed Ahmed El
Sewedy Director
· Ashraf Mohamed
Kamal Director
· Sadek Ahmed El
Sewedy Director
· Yasser Aboul Atta Product
Marketing Manager
· Said Ismail Quality
Manager
· Ossama Hammam Human
Resources Manager
· Rania Hamdy Office
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2005
Legal Form : Egyptian Joint
Stock Company
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
Name of Shareholder (s)
· Asea Brown Boveri
SAE
Switzerland
· ABB Arab
Contractors for Electrical Industries
· ABB Power Systems
& Automation Technologies SAE
· Investment for
Investment Company
· Sadek Ahmed El
Sewedy
· Ahmed Ahmed Sadek
El Sewedy
OPERATIONS
Activities: Engaged in the manufacture and distribution of low and medium voltage
transformers from 50KVA to 5000 KVA.
Export Countries: Syria, Yemen, Jordan and Africa.
Operating Trend: Steady
Subject has a workforce of approximately 250 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
193,500,000 £E
200,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2)
25703172 / 25072691
·
Citibank
PO Box: 188
Cairo
Tel: (20-2)
33551877 / 33551874
Fax: (20-2)
33558056
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.52.78 |
|
|
1 |
Rs.82.33 |
|
Euro |
1 |
Rs.68.19 |
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 |
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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.