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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ORGANIC BIOTECHNOLOGY CO |
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|
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Registered Office : |
Km 76, Plot 32, |
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Country : |
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|
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Year of Establishment : |
2006 |
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Com. Reg. No.: |
11969, Nubareya |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of organic fertilizers and pesticides |
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No. of Employees : |
750 employees |
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 |
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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 – 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 |
|
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 : ORGANIC BIOTECHNOLOGY CO
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2006
Commercial Registration Number : 11969, Nubareya
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 750
Activities : Manufacturers of organic fertilizers and pesticides
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ORGANIC
BIOTECHNOLOGY CO
Registered &
Physical Address
Building : Km 76, Plot 32
Street : 79 Cairo Alex Desert Road
Area : 1st Industrial
Zone, New Nubaira City
Town : Beheira
Country : Egypt
Telephone : (20-45) 2634475 / 2634476
Facsimile : (20-45) 2634476
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in the
Industrial Area of Beheira.
Branch Office (s)
Location Description
·
Kafr El
Zayat Factory Factory
premises
Kafr El Zayat Square
El Sharekat Street
Kafr El Zayat
Gharbeya
Tel: (20-40) 2542444 / 2542761
Fax: (20-40) 2557403 / 2548253
Name Position
·
Albert
George El Dabaa Chairman
·
El
Sayed Abd El Moneem El Sharkwey Managing
Director
·
Essam
El Dabaa Vice
Chairman
·
Ayman
Fayed Financial
Director
·
Hassan
Ahmed Hassan Financial
Manager
·
Mohamed
Katit Production
Manager
Date of Establishment : 2006
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 11969,
Nubareya
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Name of Shareholder
(s) Percentage
·
Kafr El
Zayat Pesticides and Chemicals 75%
·
Albert
Insecticides and Chemicals 24%
·
Kafr El
Zayat Employees Fund 1%
Activities: Engaged in the manufacture of organic
fertilizers and pesticides.
Import
Countries: Germany, France,
Italy, South Korea and India.
Subject has a
workforce of approximately 750 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
·
Arab
Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 33029069 / 33029070
Fax: (20-2) 33029068
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject’s financial condition is satisfactory whilst payments are made
in a timely manner. The company’s operating history is reportedly clear.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.97 |
|
UK Pound |
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.70.16 |
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.