MIRA
INFORM REPORT
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Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
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Name : |
EL RASHIDI EL MIZAN SWEETS FACTORY |
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Registered Office : |
2nd Industrial Zone, Block No. 38-39, Street No. 18/2, 6th of October City |
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Country : |
Egypt |
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Year of Establishment : |
1995 |
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Com. Reg. No.: |
24925 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of sweets, jam, tomato paste and Tahina |
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No. of Employees : |
500 |
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$ 500,000 |
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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 : EL RASHIDI EL MIZAN CONFECTIONARY SWEETS SAE (EL MIZAN)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1995
Commercial Registration Number : 24925
Authorised Capital : £E 50,000,000
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 500
Activities : Manufacturers of sweets, jam, tomato paste and Tahina.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
Person Interviewed : Haytham Noureddin, Assistant Sales Manager
COMPANY NAME
EL RASHIDI EL MIZAN CONFECTIONARY SWEETS SAE
(EL MIZAN)
company ADDRESS
Registered &
Physical Address
Building : 2nd Industrial Zone, Block No.
38-39
Street : Street No. 18/2
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38332081 / 38332082 / 38334007
Facsimile : (20-2) 38330557 /
38334008
Email : export@elrashidi.com
/ azaki@elrashidi.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of 6th of October City.
KEY PRINCIPALS
Name Position
·
Mohamed Mokhtar El Rashidi Chairman
·
Ahmed Mokhtar El Rashidi Managing
Director
·
Ahmed Hassanian Hikal Director
·
Ahmed Zaki Export
Manager
·
Mohamed Hussain Finance
Manager
·
Ahmed Galal Production
Manager
·
Ehab Elwani Purchasing
Manager
·
Karim Sweidan Sales
Manager
·
Haytham Noureddin Assistant
Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 24925
Authorised Capital : £E
50,000,000
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Name of
Shareholder (s)
·
Mohamed Mokhtar El Rashidi
·
Ahmed Mokhtar El Rashidi
·
El
Ghala Company
AFFILIATED COMPANIES
·
El
Rashidi El Mizan Sweets Factory
176-178 Port Said Street
El Sayeda Zeinab Mounira
Cairo
Tel: (20-2) 23903472 / 23903474 / 23903477 /
23929481
Fax: (20-2) 23903470 / 23931615
OPERATIONS
Activities: Engaged in the manufacture of sweets, jam,
tomato paste and Tahina.
Import
Countries: Europe and the
Far East.
Brand Names: EL MIZAN
Subject has a
workforce of approximately 500 employees.
FINANCIAL DATA
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
National Societe Generale Bank
5 Champollion Street
Cairo
Tel: (20-2) 27707777 / 27707000
Fax: (20-2) 27707799
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.50 |
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|
1 |
Rs.77.74 |
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Euro |
1 |
Rs.65.19 |
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.