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Report Date : |
06.03.2012 |
IDENTIFICATION DETAILS
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Name : |
TCI SANMAR CHEMICALS SAE |
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Registered Office : |
111 El Thawra Street, 5th Floor, Apartment No. 301
Heliopolis Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2001 |
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Com. Reg. No.: |
40309, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of basic chemical products. |
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No. of Employees : |
600 |
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 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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company Name : TCI SANMAR CHEMICALS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2001
Commercial Registration Number : 40309, Cairo
Tax Card Number : 205-151-256
Issued Capital : £E 94,000,000
Paid up Capital : £E 94,000,000
Total Workforce : 600
Activities : Manufacturers of basic chemical products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 600,000
Person Interviewed : Mohamed El Kazaz, Finance Manager
TCI SANMAR CHEMICALS SAE
Street : 111 El
Thawra Street, 5th Floor, Apartment No. 301
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 24142686
Facsimile : (20-2)
24142686
Mobile : (20-106) 5526550
Email :
did1t@tci-sanmargroup.com
/ wems1t@tci-sanmargroup.com
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
· Industrial Zone
No. 92, South of El-Raswa, Plot 9c Owned
factory premises
Port Said
Tel: (20-66)
3778002 / 3778004 / 3778005
Fax: (20-66)
3778003
Name Position
· R Kalidaz General
Manager
· Mohamed El Kazaz Finance
Manager
· Wessam Mahmoud
Saleh Sales
Manager
· Dipak Daz Marketing
Manager
Date of
Establishment : 2001
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 40309, Cairo
Tax Card No. : 205-151-256
Issued Capital : £E 94,000,000
Paid up Capital : £E 94,000,000
· Sanmar
Group 100%
Cairo
Egypt
Activities: Engaged in the manufacture and export of basic chemical products,
including sodium hydroxide, poly
aluminium
chloride, hydrochloric acid and caustic soda.
TCI Sanmar will pump in US$1.3 billion to
produce 275,000 tonnes of caustic soda per year and 400 tonnes
of poly vinyl chloride (PVC) at its facility.
Import Countries: China and the Far East.
Export Countries: Turkey, Saudi Arabia, Germany and the United
Kingdom.
Operating Trend: Steady
Subject has a workforce of approximately 600 employees.
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
202,000,000 £E
210,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed El Kazaz, Finance Manager
·
National Bank of Egypt
52 El Gomhouria
Street
Port Said
Tel: (20-66)
224816 / 226637
Fax: (20-66)
327008
·
Commercial International Bank (CIB)
El Gomhouria Street
Port Said Free Zone
Port Said
Tel: (20-66) 336801
Fax: (20-66) 325956
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 and
the above credit figure is within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.79 |
|
|
1 |
Rs.78.79 |
|
Euro |
1 |
Rs.65.74 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.