MIRA INFORM REPORT

 

Report Date :

26.03.2012

 

IDENTIFICATION DETAILS

 

Name :

AHRAM SECURITY GROUP SAE

 

 

Registered Office :

3 Amin El Khouly Street, Ismailia Square Heliopolis PO Box 1562 Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1945

 

 

Com. Reg. No.:

5337

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of locks, cylinders, alarm equipment, armoured doors and surveillance systems.

 

 

No. of Employees :

1,150

 

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$ 750,000

Status :

Satisfactory

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                                     : AHRAM SECURITY GROUP SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1945

Commercial Registration Number            : 5337

Issued Capital                                        : £E 61,277,000

Paid up Capital                                      : £E 61,277,000

Total Workforce                                     : 1,150

Activities                                               : Manufacturers of locks, cylinders, alarm equipment, armoured doors and surveillance systems.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 750,000

 

 

COMPANY NAME

 

AHRAM SECURITY GROUP SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 3 Amin El Khouly Street, Ismailia Square

Area                 : Heliopolis

 

PO Box             : 1562

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 22412121 / 26336263

Facsimile          : (20-2) 26336263 / 22403131

 

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

 

·       A1 3rd Industrial Zone                                                                        Factory premises

10th of Ramadan

Sharkeya

Tel: (20-15) 410410

Fax: (20-15) 410308

 

·       40 Moustafa El Nahhas                                                                      Office premises

Nasr City

Cairo

Tel: (20-2) 22704769 / 26708340

 

·       17 Abd El Aziz Fahmy Street                                                             Office premises

Heliopolis

Cairo

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Samir Ezzat Ismail Aref                                                                     Chairman

 

·       Samy Ezzat Ismail Aref                                                                     Vice Chairman

 

·       Sanaa Ezzat Ismail Aref                                                                    Director

 

·       Mohamed El Hayawan                                                                       Financial Manager

 

·       Ahmed Abd El Latif                                                                           Accounts Manager

 

·       Khaled Bekhit                                                                                   Sales Manager

 

·       Nabil Shalby                                                                                     Factory Manager                                   

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1945

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 5337

 

Issued Capital              : £E 61,277,000

 

Paid up Capital            : £E 61,277,000

 

Name of Shareholder (s)                                        Percentage

 

·       Samir Ezzat Ismail Aref                                             50%                                                     

 

·       Samy Ezzat Ismail Aref                                             25%                 

 

·       Sanaa Ezzat Ismail Aref                                            25%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of locks, cylinders, alarm equipment, armoured doors and  surveillance

                 systems.

 

                 Subject is ISO 9001:14001:18001 accredited.

 

Import Countries: Germany, Turkey, Italy and India.

 

Export Countries: Yemen, Algeria, Italy, Israel, Spain, Benin, Djibouti, Kenya, Libya, Madagascar, Mauritius,

                               Morocco, South Africa, Sudan, Tunisia, Bahrain, Iraq, Iran, Jordan, Kuwait, Lebanon, Oman,

                   Qatar, Saudi Arabia, Syria, United Arab Emirates, Cyprus, Greece, Malta and Turkey.

 

Brand Names: EL-AHRAM, DOM and AFM

 

Operating Trend: Steady

 

Subject has a workforce of approximately 1,150 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 125,000,000                         £E 145,000,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Arab Bank Plc

28 Talaat Harb Street

PO Box: 2006

Cairo

Tel: (20-2) 22746218

 

·       Banque du Caire SAE

22 Adly Street

PO Box: 1495

Cairo

Tel: (20-2) 33904554

Fax: (20-2) 33908992

 

·       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

 

·       Export Development Bank of Egypt

     1st District Centre

Group D

Sharkeya

10th of Ramadan City

Tel: (20-15) 367203

Fax: (20-15) 362638 / 362639

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.90

UK Pound

1

Rs.80.77

Euro

1

Rs.67.40

 

 

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.