MIRA INFORM REPORT
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Report Date : |
31.03.2012 |
IDENTIFICATION DETAILS
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Name : |
SIDASA |
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Registered Office : |
395 Port Said Street,
Bab El Khalk, P O Box
1152, Cairo |
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Country : |
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Year of Establishment : |
1990 |
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Com. Reg. No.: |
66528, Giza |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of chemicals. |
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No. of Employees
: |
65 |
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
|
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 : SIDASA EGYPT SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1990
Commercial Registration Number : 66528, Giza
Issued Capital : £E 4,000,000
Paid up Capital : £E 4,000,000
Total Workforce : 65
Activities : Manufacturers of chemicals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
SIDASA EGYPT SAE
Registered &
Physical Address
Street : 395 Port Said Street
Area : Bab
El Khalk
PO Box : 1152
Town : Cairo
Country :
Telephone : (20-2) 25114284
Facsimile : (20-2) 25114284 / 27537073
Mobile : (20-122) 2172656
Email : jimmy.alykhalil@live.com / dasa152@starnet.coom.eg
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
1st
Industrial Zone, Plot No. 311 Factory
premises
Street No. 38
6th Of October City
Tel: (20-2) 38346324
Fax: (20-2) 38346324
·
3
Mohamed Moussa Street Showroom
premises
Alexandria
Tel: (20-3) 4877683
·
45 El Geish Street Showroom
premises
Attaba
Alexandria
Tel: (20-3) 25897192
·
305 El Helaly Street Showroom
premises
Assiut
Tel: (20-88) 2318838
Name Position
·
Gemy Abd El Razek Ragab
Ali Khalil Abd El Razek Chairman
·
Sherif Abdallah Vice
Chairman
·
Sayed Rashed Finance
Manager
·
Said Maghawry Sales
Manager
·
Hussein
Hamza Marketing
Manager
·
Sherine Fahim Moustafa Export
Manager
Date of Establishment : 1990
Legal Form :
Egyptian Joint Stock Company
Commercial Reg. No. : 66528, Giza
Issued Capital : £E 4,000,000
Paid up Capital : £E 4,000,000
·
Gemy Abd El Razek Ragab
Ali Khalil Abd El Razek
·
Sherif Abdallah
·
Local
businessmen and private investors
Activities: Engaged in the manufacture of chemicals,
such as fertilizers and insecticides.
Import
Countries: Europe and the
Far East
Agencies Held:
·
Grecian
Magnesite
·
Sephu
·
Kamet
·
Bross
·
Siebec
·
Blo Fix
·
Spray
·
Plaasikom
·
Tony
Beer
Export
Countries: Syria, Libya,
Saudi Arabia, Oman, Kuwait, Yemen, Algeria and the United Arab Emirates.
Subject has a
workforce of 65 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 Misr
151 Mohamed Farid
Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
·
Banque du Caire SAE
22 Adly Street
PO Box: 1495
Cairo
Tel: (20-2) 33904554
Fax: (20-2) 33908992
No complaints
regarding subject’s payments have been reported.
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.51.16 |
|
UK Pound |
1 |
Rs.81.72 |
|
Euro |
1 |
Rs.68.34 |
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.