|
Report Date : |
22.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
EGYPTIAN GYPSUM CO SAE (GYPROC) |
|
|
|
|
Registered Office : |
94 Maghraby Plaza
Building, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
Com. Reg. No.: |
24432 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of gypsum products and insulation ceiling tiles |
|
|
|
|
No. of Employees : |
330 |
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 |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 GYPSUM CO SAE (GYPROC)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1999
Commercial Registration Number : 24432
Tax Card Number : 200-185-152
Issued Capital : £E 37,590,000
Paid up Capital : £E 37,590,000
Total Workforce : 330
Activities : Manufacture of gypsum products and insulation ceiling tiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
EGYPTIAN GYPSUM CO
SAE (GYPROC)
Registered &
Physical Address
Building : 94 Maghraby Plaza Building
Street : Tahrir Street
Area : Dokki, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 33363783 / 33377173 / 37609368
/ 37619592 / 37621460
Facsimile : (20-2) 33370705
Mobile : (20-122) 7344480 / 9004154
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
·
El
Gharbeneyat Zone Factory
premises
Borg El Arab
Alexandria
·
El
Ballah Warehouse
premises
Ismailia
Tel: (20-64) 3572003 / 3572475
Fax: (20-64) 3572473
Name Position
·
Nassef
Onsi Naguib Sawiris Chairman
·
Gugole
Paolo Managing
Director
·
Ahmed
Lateb Director
·
Mark
Higson Director
·
David
Kilby Director Ali
Moustafa Moussa Director
·
Dr
Khalil Hafez Director
·
Jean
Piere Clavel Director
·
Jean
Skotty Director
·
Yasser
Badr Financial
Manager
·
Tamer
Assaf Marketing
Manager
·
Mohamed
Azzoz Purchasing
Manager
·
Hassan
Gouda Legal
Affairs Manager
Date of Establishment : 1999
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 24432
Tax
Card No. : 200-185-152
Issued Capital : £E 37,590,000
Paid up Capital : £E 37,590,000
Name of Shareholder
(s)
·
United
Paints & Chemicals / Drymix
Egypt
·
BPP
Egypt Ind Inv Placo
·
OCI
(Orascom Construction Industries)
Egypt
·
Saint
Gobain Desjonqueres & Sundries
Egypt
Activities: Engaged in the manufacture of gypsum
products and insulation ceiling tiles.
Import
Countries: Spain, United
States of America, Belgium, Italy and Germany.
Export
Countries: Jordan, Israel,
Senegal, Sudan, Kuwait, Sweden, Greece and Bulgaria.
Operating Trend: Steady
Subject has a
workforce of approximately 330 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 140,144,913 £E 141,626,969
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
National
Bank of Egypt
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
No complaints regarding
subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.68 |
|
UK Pound |
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.