|
Report Date : |
31.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
ELBADR FOR PAPER PRODUCTION COMPANY |
|
|
|
|
Registered Office : |
2, Mostafa Riyad
Street, El Mentika El Awala,
Nasr City, 1st Industrial Zone, Cairo |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Production of writing paper |
|
|
|
|
No. of Employees : |
110 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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 : ELBADR FOR PAPER PRODUCTION COMPANY
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2006
Issued Capital : £E 18,000,000
Paid up Capital : £E 18,000,000
Total Workforce : 110
Activities : Production of writing paper.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Moustafa Kamel Ebeid, Managing Director
ELBADR FOR PAPER
PRODUCTION COMPANY
Mailing Address
Street : 2, Mostafa Riyad Street
Area : El Mentika El
Awala, Nasr City, 1st
Industrial Zone
Town : Cairo
Country : Egypt
Telephone : (20-2) 24019290
Facsimile : (20-2) 24019290
Mobile : (20-122) 2113248 / 3122196
Email : moustafaebeid@yahoo.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Cairo.
Branch Office
(s)
Location Description
·
Plot
No. 7, El Maya Fadan Office
and factory premises
El Badr Industrial City
Cairo
Tel: (20-2) 23108181 / 23108182 / 23108183
Fax: (20-2) 23108180
Name Position
·
Moustafa
Kamel Ebeid Managing
Director
·
Khalid
Mohamed El Bana Director
·
Mohamed
Rizq Mohamed Rizq Director
·
Amr Mohamed Rizq Director
·
Shawqi Rashad Director
Date of Establishment : 2006
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 18,000,000
Paid up Capital : £E 18,000,000
Name of
Shareholder (s)
·
Moustafa
Kamel Ebeid
·
Khalid
Mohamed El Bana
·
Mohamed
Rizq Mohamed Rizq
·
Amr Mohamed Rizq
·
Shawqi Rashad
Activities: Engaged in the production of writing paper.
Production Capacity: 9,000 tonnes per annum
Import
Countries: Italy and India.
Operating Trend: Steady
Subject has a
workforce of 110 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 13,000,000 £E 13,565,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Moustafa Kamel Ebeid, Managing Director
·
National
Bank of Abu Dhabi
35 Mohy Eldin Abdelaziz
Mohandessin, Giza
Cairo
Tel: (20-2) 33609724
Acc No. 61463
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.17 |
|
UK Pound |
1 |
Rs.86.83 |
|
Euro |
1 |
Rs.69.85 |
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.