MIRA INFORM REPORT
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Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
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Name : |
UNITED PAINTS AND CHEMICALS SAE (UPC) |
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Registered Office : |
5th
Industrial, Plot 95B, 96, 6th of October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1979 |
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Com. Reg. No.: |
1367 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of building materials |
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No. of Employees
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100 |
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 |
Company Name : UNITED PAINTS AND CHEMICALS SAE (UPC)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1979
Commercial Registration Number : 1367
Issued Capital : £E 100,000,000
Paid up Capital : £E 100,000,000
Total Workforce : 100
Activities : Manufacture of building materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
UNITED PAINTS AND CHEMICALS SAE (UPC)
Registered &
Physical Address
Location : 5th Industrial, Plot
95B, 96
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38164102 / 38320902
Facsimile : (20-2) 38164101
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of 6th of October City.
Branch Office (s)
Location Description
·
5 Fawzi
Moaz Street Showroom
premises
Alexandria
Tel: (20-3) 4257639
Fax: (20-3) 4257639
Mob: (20-12) 6451463
·
17
Bahgat Ali Street Showroom
premises
Zamalek
Cairo
Tel: (20-2) 27363964 /
27368283 / 27358314 / 27363695
Fax: (20-2) 27363694
Mob: (20-12) 2113898
Name Position
·
Onsi
Naguib Sawiris Chairman
·
Akram
Ibrahim Abu Raida Managing
Director
·
Hany
Fathy Export
Manager
·
Mohamed
Ibrahim Factory
Manager
·
Mohamed
Wagdi Sales
Manager
·
Rami
Mosaad Finance
Manager
Date of Establishment : 1979
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 1367
Issued Capital : £E 100,000,000
Paid up Capital : £E 100,000,000
Name of Shareholder
(s) Percentage
·
Orascom
Construction Industries 50%
Egypt
·
Members
of the Moussa Family 38%
·
Members
of the Khalil Hafez Family 12%
Activities: Engaged in the manufacture of building
materials including, ready mix concrete, putties, tiles and
adhesives, plaster coloured decorative
renders and finishing products.
Subject is ISO 9001:14001 and OHSAS 18001
accredited
Import
Countries: United Kingdom
and Germany.
Export
Countries: Saudi Arabia,
Lebanon, Cyprus, Italy, Libya, Algeria, Syria, Greece, Jordan, Mauritius and
South Africa.
Brand Names: DRY MIX and DRY BUTTY
Operating Trend: Steady
Subject has a
workforce of approximately 100 employees.
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 25,000,000 £E 35,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
African Bank
5 El Saraya El Kobira Square
PO Box: 60, Magles El Shaab
Cairo
Tel: (20-2) 33545094
Fax: (20-2) 33558493
No complaints
regarding subject’s payments have been reported.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.94 |
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UK Pound |
1 |
Rs.77.95 |
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Euro |
1 |
Rs.65.94 |
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.