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Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SAHARA PRINTING COMPANY SAE |
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Registered Office : |
Free
Zone, Street No. 9, Nasr City, Cairo |
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Country : |
Egypt |
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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.: |
289091, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Printing and export of school books,
magazines, brochures, catalogues,
calendars, cards and corporate products |
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No. of Employees : |
230 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 |
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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 – 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 |
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 : SAHARA PRINTING COMPANY SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1995
Commercial Registration Number : 289091, Cairo
Tax Card Number : 204-936-926
Issued Capital : £E 11,540,000
Paid up Capital : £E 11,540,000
Total Workforce : 230
Activities :
Printing and export of school books, magazines,
brochures, catalogues,
calendars, cards and corporate products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SAHARA PRINTING
COMPANY SAE
Registered &
Physical Address
Location : Free
Zone, Street No. 9
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22749811 / 22744056 / 22740671 /
22743246
Facsimile : (20-2) 22741907
Email : info@saharaprinting.com / sami.saad@saharaprinting.com
Premises
Subject operates from
a suite of offices, a printing press and warehousing covering an area of 10,000
square metres that are owned and located in the Industrial Area of Cairo.
Name Position
·
Nadim Edward Elias Managing
Director
·
Dr Adel Boutros Director
·
Sami Albert Thabet Director
·
Dr Taha
Khaled Director
·
Ossama Halim Accounts
Manager
·
Mohamed Shahbour Public
Relations Manager
·
Safwat
Moawad Finance
Manager
·
Dahlia
Sobhy Marketing
Manager
·
Mary Wazir Office
Manager
Date of Establishment : 1995
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 289091, Cairo
Tax Card No. :
204-936-926
Issued Capital : £E 11,540,000
Paid up Capital : £E 11,540,000
Name of
Shareholder (s)
·
Nadim Edward Elias
·
Dr Adel Boutros
·
Sami Albert Thabet
·
Local
businessmen and private investors
Activities: Engaged in the
printing and export of school books, magazines, brochures, catalogues,
calendars, cards and corporate
products.
Import
Countries: Sweden, Germany,
France and the United Kingdom
Export
Countries: The company exports more than 50 percent of
its production,
with primary markets including the United Kingdom, Ethiopia, Sudan, and Saudi
Arabia.
Operating Trend: Steady
Subject has a
workforce of approximately 230 employees.
Financial
highlights provided by local sources are given below:
Currency: United
States Dollars (US$)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales US$ 10,811,000 US$ 12,167,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.89 |
|
UK Pound |
1 |
Rs.88.63 |
|
Euro |
1 |
Rs.70.03 |
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.