MIRA INFORM REPORT
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Report Date : |
13.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AKEF PACK TEC |
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Registered Office : |
Extension of 3rd Industrial
Zone, Plot No. 473, 475 & 481, 6th of October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.02.2005 |
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Com. Reg. No.: |
14380 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of paper shopping bags |
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No. of Employees
: |
130 |
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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Maximum Credit Limit : |
US$ 600,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : AKEF PACK TEC
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1st February 2005
Commercial Registration Number : 14380
Tax Card Number : 281-329-062
Issued Capital : £E 6,000,000
Paid up Capital : £E 6,000,000
Total Workforce : 130
Activities : Manufacturers of paper shopping bags.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 600,000
Person Interviewed : Hassan Mohamed Hassan Akef, Managing Partner
COMPANY NAME
AKEF PACK TEC
company ADDRESS
Registered &
Physical Address
Location : Extension of 3rd Industrial Zone,
Plot No. 473, 475 & 481
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38290321 / 39124505
Facsimile : (20-2) 38290320
Mobile : (20-100) 5000008 / 1766173
/ (20-122) 7939222
Email : info@akefpacktec.com
/ akefpacktec@akefpacktec.com
Premises
Subject operates
from a suite of offices and a factory covering 5,000 square metres that are
rented and located in the Industrial Area of 6th of October City.
KEY PRINCIPALS
Name Position
·
Hassan Mohamed Hassan Akef Managing
Partner
·
Mohamed Hassan Mohamed Hassan Akef Partner
·
Mohamed Amer Mahmoud Refaat Finance
Manager
·
Hassan Mohamed El Sokary Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
February 2005
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 14380
Tax Card No. :
281-329-062
Issued Capital : £E 6,000,000
Paid up Capital : £E 6,000,000
Name of
Shareholder (s)
·
Hassan Mohamed Hassan Akef
·
Mohamed Hassan Mohamed Hassan Akef
·
Members
of Hassan
Mohamed Hassan Akef’s family
AFFILIATED COMPANIES
·
Plast 80
Al Ameriya
Cairo
·
Akef Trading & Import
6th of
October City
OPERATIONS
Activities: Engaged in the manufacture of paper
shopping bags.
Subject is ISO 9001 accredited.
Import
Countries: Europe and GCC
countries.
Clients:
·
Splash Dubai
Export
Countries: Europe, GCC
countries and the United States of America.
Operating Trend: Steady
Subject has a
workforce of 130 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 44,800,000 £E 48,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Hassan Mohamed Hassan Akef, Managing Partner
BANKERS
·
Export
Development Bank of Egypt
Plot 3/1
4th Industrial Region
6th of October City
Tel: (20-2) 38330599
Fax: (20-2) 38330570
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.51.83 |
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UK Pound |
1 |
Rs.79.42 |
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Euro |
1 |
Rs.65.90 |
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 |
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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.