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Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
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Name : |
GREEN LAND GROUP FOR FOOD INDUSTRIES SAE |
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Registered Office : |
B3 1st
Industrial Zone, Plot 106, Sharkeya, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1995 |
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Com. Reg. No.: |
2285, Sharkeya |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Processing and exporting of dairy products and fruit juices |
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No. of Employees : |
1,750 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Egypt - ECONOMIC OVERVIEW
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed to public discontent. After unrest erupted in January 2011, the Egyptian Government drastically increased social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction are among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow at least through 2012. The government is utilizing foreign exchange reserves to support the Egyptian pound and Egypt may seek a loan from the International Monetary Fund.
|
Source : CIA |
Company Name : GREEN LAND GROUP FOR FOOD INDUSTRIES SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1995
Commercial Registration Number : 2285, Sharkeya
Tax Card Number : 205-089-852
Issued Capital : £E 135,000,000
Paid up Capital : £E 135,000,000
Total Workforce : 1,750
Activities : Processing and exporting of dairy products and fruit juices.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GREEN LAND GROUP
FOR FOOD INDUSTRIES SAE
Registered &
Physical Address
Location : B3 1st Industrial Zone,
Plot 106
Area : Sharkeya
PO Box : 217
Town : 10th Ramadan City
Country : Egypt
Telephone : (20-15) 366110 / 365173 / 362559
Facsimile : (20-15) 365173 / 362559
Email : malakyoussef@yahoo.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of 10th Ramadan City.
Branch Office (s)
Location Description
·
El Nozha El Gedida
Heliopolis
Cairo
Tel: (20-2) 26220884
Fax: (20-2) 26246619
·
3 Ahmed
Mekheimer Street Office
premises
El Nozha El Gedida
Heliopolis
Cairo
Tel: (20-2) 22959170
Fax: (20-2) 22969341
·
Industrial
Zone, Plot 26 Warehouse
premises
Bani Ghaleb
El Safa
Assiut
Tel: (20-88) 4970168 / 4970167
·
17
Mohamed Rushdy Street Office
premises
Nazlet El Batran
Al Marriottia
Pyramids
Giza
Tel: (20-2) 33839220
·
El
Weheda Street Office
premises
El Damaar
Hurghada
Tel: (20-65) 3540045
·
43 El
Salheya Street Office
premises
Ismailia
Tel: (20-64) 3310205
·
El
Nozha Street Office
premises
Luxor
Qena
Tel: (20-95) 2379572
·
74 El
Nahda Street Office
premises
Ezbet El Nakhl
Cairo
·
B/15016
Street Office
premises
7th District 2, Block 9
El Obour City
Cairo
·
Plot
No. 5, Square 13027 Warehouse
premises
Ist Industrial Zone
El Obour
Cairo
Tel: (20-2) 46100794 / 46100795 / 46100796
Fax: (20-2) 46100794 / 46100795 / 46100796
·
Dr Atef
Abdel Maksoud Building Office
premises
Shalaby Zone
Minia
Tel: (20-86) 2371448
Name Position
·
Mohamed
Hamdy Abd El Raouf Chairman
·
Sayed
El Hawari Managing
Director
·
Hamdy
Abd El Raouf General
Manager
·
Ahmed
Fawzy Deputy
General Manager
·
Ahmed
Shalaby Finance
Manager
·
Khaled
Abd El Rahman Sales
Manager
·
Ahmed
El Bana Marketing
Manager
·
Mohamed
Abd El Wahab Export
Manager
·
Hatem
Hafez Purchasing Manager
·
Zakaria
Sabry Administration
Manager
·
Emad
Karam Accounts
Manager
Date of Establishment : 1995
History : Subject began operations in 1995 under the name
“Middle East Co for Foods & Dairy
Industries” and in 2004 it merged with the
Kharafi Group and changed its name to the
current style.
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 2285,
Sharkeya
Tax
Card No. : 205-089-852
Issued Capital : £E 135,000,000
Paid up Capital : £E 135,000,000
Name of Shareholder
(s) Percentage
·
Americana
Group for Food and Touristic Projects 80.0%
Kuwait
·
Abd El
Fatah Sobh Abd El Fatah
8.00%
·
Fathi
Sobhy Kamel
5.01%
·
Gihan
Kamal Soliman
5.01%
·
Ayman
Samy Youssef Omara
0.66%
·
Mahmoud
Samy Youssef Omara
0.66%
·
Mohamed
Samy Youssef Omara
0.66%
Activities: Engaged in the processing and exporting of
dairy products and fruit juices.
Subject is ISO 9001, 9002 and 14001 accredited.
Import Countries: Netherlands, Argentina, Germany and France.
Export
Countries: Sweden, Kenya,
France, Greece, Libya, Saudi Arabia, Jordan, Iraq, Israel, Lebanon, Kuwait,
Austria, Qatar, United
Kingdom, Netherlands, Syria and the United States of America.
Brand Names: GREEN LAND
Operating Trend: Steady
Subject has a
workforce of approximately 1,750 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 557,000,000 £E 690,000,000
Local sources
consider subject’s financial condition to be Good.
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
Sharkeya Branch
Tenth of Ramadan City
Tel: (20-15) 360833 / 360744 / 344144
·
Al
Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 23379363
Fax: (20-2) 23772959
No complaints
regarding subject’s payments have been reported.
Established in 1995,
subject is involved in the processing and exporting of dairy products and fruit
juices.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.79 |
|
UK Pound |
1 |
Rs.86.77 |
|
Euro |
1 |
Rs.69.71 |
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.