MIRA INFORM REPORT

 

 

Report Date :

01.03.2012

 

IDENTIFICATION DETAILS

 

Name :

ENERGYA SPECIALTY CABLES SAE

 

 

Registered Office :

1 El Fayoum Street El Korba, Heliopolis Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1993

 

 

Com. Reg. No.:

71227

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture of telephone cables and wires.

 

 

No. of Employees :

800

 

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$ 2,500,000

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 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                                     : ENERGYA SPECIALTY CABLES SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1993

Commercial Registration Number            : 71227

Tax Card Number                                   : 100-357-104

Issued Capital                                        : US$ 30,000,000

Paid up Capital                                      : US$ 30,000,000

Total Workforce                                     : 800

Activities                                               : Manufacture of telephone cables and wires.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 2,500,000

COMPANY NAME

 

ENERGYA SPECIALTY CABLES SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 1 El Fayoum Street

Area                 : El Korba, Heliopolis

 

Town                 : Cairo

Country             : Egypt

 

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

Facsimile          : (20-2) 24195066

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       3rd Industrial Zone 1A                                                             Factory premises

10th of Ramadan City

Sharkeya

Tel: (20-15) 410073 / 411350 / 411366

Fax: (20-15) 410400 / 410410

 

·       Abd El Salam Zaki Street                                                                   Office premises

Heliopolis

Cairo

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Hesham Helal El Sewedy                                                                   Chairman

 

·       Samy El Meleigy                                                                               Vice Chairman

 

·       Sadek Ahmed Sadek El Sewedy                                                        Director

 

·       Hossam Khader                                                                                Financial Manager

 

·       Wael Younis                                                                                     Accounts Manager

 

·       Salah El Said                                                                                    Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1993

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 71227

 

Tax Card No.               : 100-357-104

 

Issued Capital              : US$ 30,000,000

 

Paid up Capital            : US$ 30,000,000

 

Name of Shareholder (s)                                 Percentage

 

·       Helal El Sewedy Holding                                            100%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of telephone cables and wires (copper and fibre optical cables).

 

                 Subject also offers turnkey projects for local telecom networks.

 

                 Subject is ISO 9002 accredited

 

Import Countries: Japan, France Italy and Germany.

 

Export Countries: Saudi Arabia, Jordan, United Arab Emirates, Brazil, Ethiopia, Spain, Qatar, Poland, Bangladesh,

                               Pakistan and Yemen.

 

Brand Names: ENERGYA HELAL ELSEWEDY

 

Operating Trend: Steady

 

Subject has a workforce of approximately 800 employees.

 

 

FINANCIAL DATA

 

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 154,930,906                         £E 211,426,535

 

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

 

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

 

·       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

 

·       Suez Canal Bank

14 Wadi El Nile Street

Nahda Square

Maadi

PO Box: 249

Cairo

Tel: (20-2) 33582681

Fax: (20-2) 33582274

 

·       Export Development Bank of Egypt

108 Mohi El Din Abu El Ezz Street

     Mohandessin

     Cairo 11111

     Tel: (20-2) 33619005 / 33385877

     Fax: (20-2) 33385940 / 33385938

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the company is deemed a fair trade risk.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.94

UK Pound

1

Rs.77.95

Euro

1

Rs.65.94

 

 

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.