MIRA INFORM REPORT
|
Report Date : |
15.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
EGYPTIAN PROPYLENE & POLYPROPYLENE CO
(EPPC) |
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|
|
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Registered Office : |
El Gobeil Zone,
Ashtoun, El Arab, Port Said |
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|
|
|
Country : |
Egypt |
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Year of Establishment : |
2005 |
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Com. Reg. No.: |
106, Ismaila |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distribution of propylene & polypropylene |
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No. of Employees
: |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
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|
|
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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
|
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 |
Company Name : EGYPTIAN PROPYLENE & POLYPROPYLENE CO (EPPC)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2005
Commercial Registration Number : 106, Ismaila
Tax Card Number : 232-615-160
Issued Capital : £E 255,000,000
Paid up Capital : £E 255,000,000
Total Workforce : 30
Activities : Distribution of propylene & polypropylene.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
EGYPTIAN PROPYLENE & POLYPROPYLENE CO
(EPPC)
Registered &
Physical Address
Location : El Gobeil Zone, Ashtoun, El Arab
Town : Port Said
Country : Egypt
Telephone : (20-2) 26702454 / 26702418 / 26702403
/ 26702476 / 22676513
Facsimile : (20-2) 22676515 / 22676516
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Port Said.
Branch Office (s)
Location Description
·
44
Nagaty Serag, 5th District Warehouse
premises
Nasr City
Cairo
·
El
Akhbar Street Office
premises
Sheraton
Heliopolis
Cairo
Name Position
·
Mohamed
Farid Khamis Chairman
·
Hany
Salaeh Managing
Director
·
Hassan
Mahmoud Madkour Financial
Manager
·
Fekry
Youssef Technical
Manager
·
Hussein
El Hakim Project
Manager
·
Yasser
Mohamed Ibrahim HR
Manager
·
May
Khamis Business
Development Manager
Date of Establishment : 2005
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 106, Ismaila
Tax
Card No. : 232-615-160
Issued Capital : £E 255,000,000
Paid up Capital : £E 255,000,000
Name of Shareholder
(s) Percentage
·
Desa
Holding 22%
United Kingdom
·
Orientals
Holding 22%
Egypt
·
Amwal
Al Arabia 15%
·
Egyptian
Petrochemicals Holding (Echem) 13%
·
Egyptian
Natural Gas (Gasco) 13%
·
Arabia
Investment 10%
·
Oriental
Petrochemicals 5%
Activities: Engaged in the import and distribution of
propylene and polypropylene used for petrochemical
manufacturing.
Production Capacity: 400,000 tons per year.
Import
Countries: Japan, United
Kingdom, India, China and Ecuador.
Export
Countries: Italy, Turkey
and Germany.
Subject has a
workforce of 30 employees.
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.
·
Banque
du Caire SAE
22 Adly Street
PO Box: 1495
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.90 |
|
UK Pound |
1 |
Rs.78.15 |
|
Euro |
1 |
Rs.65.09 |
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 |
|
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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.