MIRA INFORM REPORT

 

 

Report Date :

15.04.2013

 

IDENTIFICATION DETAILS

 

Name :

LUNA CO FOR INDUSTRIAL INVESTMENTS SAE

 

 

Registered Office :

72 El Sharikat Street, Daher, Ghamra, P O Box   43, Cairo 11251

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2012

 

 

Year of Establishments:

1966

 

 

Com. Reg. No.:

140, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Production and supply of raw materials for chemicals, pharmaceuticals, and packing applications

 

 

No. of Employees :

140

 

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)

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

 

SUMMARY

 

Company Name                                     : LUNA CO FOR INDUSTRIAL INVESTMENTS SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1966

Commercial Registration Number            : 140, Cairo

Tax Card Number                                   : 212-169-505

Issued Capital                                        : £E 16,825,000

Paid up Capital                                      : £E 16,825,000

Total Workforce                                     : 140

Activities                                               : Production and supply of raw materials for chemicals, pharmaceuticals,

and packing applications.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

 

COMPANY NAME

 

LUNA CO FOR INDUSTRIAL INVESTMENTS SAE

 

 

Company ADDRESS

 

Registered & Physical Address

Street               : 72 El Sharikat Street

Area                 : Daher, Ghamra

PO Box             : 43

Town                 : Cairo 11251

Country             : Egypt

Telephone         : (20-2) 22361501 / 22344117 / 22361502 / 22361503

Facsimile          : (20-2) 22361504 / 22322858

Mobile               : (20-122) 2109950 / (20-18) 2861862

Email                : luna@intouch.com / info@lunapac.com

 

Premises

Subject operates from a large suite of offices, a warehouse and a factory that are owned and located in the Suburban Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       4th Industrial Zone, Part 76                                                                  Owned factory premises

Sixth of October City

Tel: (20-2) 38334441 / 38334446

Fax: (20-2) 38334448 / 22397215

 

·       Alexandria                                                                                        Rented sales office

 

·       Mansoura                                                                                         Rented sales office

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Dr George Amin Youssef                                                                   Chairman

·       Dr Magid George Amin Youssef                                                          Director

·       Dr Ramez George Amin Youssef                                                        Director

·       Rania George Amin Youssef                                                              Director

·       Samira Antoine Kheidr                                                                       Director

·       Ahmed Mourad                                                                                 Finance Manager

·       Nabil Nassif                                                                                      Accountant

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1966

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 140, Cairo

 

Tax Card No.               : 212-169-505

 

Issued Capital              : £E 16,825,000

 

Paid up Capital            : £E 16,825,000

 

Name of Shareholder (s)                                           Percentage

 

·       Dr George Amin Youssef                                           76.02%

 

·       Dr Magid George Amin Youssef                      ]

                                                                        ]

·       Dr Ramez George Amin Youssef                    ]

]           23.98%

·       Rania George Amin Youssef                          ]

]

·       Samira Antoine Kheidr                                   ]          

 

 

AFFILIATED COMPANIES

 

·       Luna Cosmetics Co SAE

     72 El Sharikat Street

     Daher, Ghamra

     PO Box: 2

     Cairo 11251

     Tel: (20-2) 2344117

     Fax: (20-2) 2322858

 

·       Luna Co for Trading and Distribution

     34 Port Said Street

     Ghamra

     Cairo

     Tel: (20-2) 4250775

     Fax: (20-2) 4250772

 

·       Luna Flavour & Fragrance

 

·       Luna for Ice Cream Stick Industry

 

 

OPERATIONS

 

Activities: Engaged in the production and supply of raw materials for chemicals, pharmaceuticals, and packing

     applications.

 

Subject supplies the pharmaceutical, food, cosmetic, soap, and detergent industries as well as technical industries such as ink, paint, textile, petrochemical, press, and natural gases for raw materials, packing

     and some machines.

 

Import Countries: Germany, Belgium, Italy, Spain, India, China, Hong Kong, Canada, Australia, United Kingdom and the United Arab Emirates.

 

International Suppliers:

 

·       Givaudan Roure                     France

·       Firmenish                             Switzerland

·       Dragoco                               Germany

 

Export Countries: Jordan, Kuwait, Libya and Iraq.

 

Brand Names: FMC, ELLIS & EVERARD, FOTMABIOS, BORMIOLI ROCCO, RISDON, HUBERT DE BACKER,                              SCANBECH, ACS DOBFAR, HUASHU PHARMA, SHANDONG MEHEECO, ADANI

PHARMACHEM, FYSE, MEGGLE, PHARMALAB, GANSONS, SFSI, CMC, AIR PAC, NOVEON, INALCO, DRAGOCO and LAB MAG.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 140 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/11:                Year Ending 31/12/12:

 

Total Sales                                £E 46,820,000                           £E 47,500,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Egyptian British Bank SAE

Zamalek Abou El Feda Building

Abou El Feda Street

Zamalek

PO Box: 126D

Cairo

Tel: (20-2) 33404849 / 33408938

Fax: (20-2) 33414010

 

·       Bank of Alexandria

     Main Branch

     Cairo

     Tel: (20-2) 24824056 / 24836073

     Fax: (20-2) 24837468

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject enjoys a good reputation for the quality of its products with nothing detrimental uncovered regarding the manner in which operations are conducted. As such the company is considered to be a fair trade risk.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.44

UK Pound

1

Rs.83.78

Euro

1

Rs.71.33

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.