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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
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Name : |
EGYPTIAN COMPANY FOR PAPER INDUSTRIES |
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Registered Office : |
Kilo 81, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.02.1996 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of paper, cardboard and related products |
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No. of Employees : |
150 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Egypt |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : EGYPTIAN COMPANY FOR PAPER INDUSTRIES
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 10th February 1996
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 150
Activities : Manufacturers of paper, cardboard and related products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
EGYPTIAN COMPANY FOR PAPER INDUSTRIES
Location : Kilo 81,
Cairo Alexandria Desert Road, Piece 81, 82, 83 and 84
Town : Nubariya
City
Country : Egypt
Telephone : (20-45) 2633005
Facsimile : (20-45)
2632992
Mobile : (20-100)
9919199 / (20-109) 3330333
Email : egypulp@yahoo.com
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Nubariya City.
Name Position
· Yasser Ahmed El
Sayed Abdel Aal Managing
Partner
· Ahmed El Sayed
Abdel Aal Partner
Date of
Establishment : 10th
February 1996
Legal Form : Limited Liability
Partnership
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
· Yasser Ahmed El
Sayed Abdel Aal
· Ahmed El Sayed Abdel
Aal
Activities: Engaged in the manufacture of paper, cardboard and related products.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of approximately 150 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
14,200,000 £E
15,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Industrial Development and Workers Bank
Borg El Arab
Branch
Cairo
Acc No. 300426
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 and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.58 |
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|
1 |
Rs.86.60 |
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Euro |
1 |
Rs.68.94 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.