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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
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Name : |
NASR CARTON AHMED MOHAMED ALI BAYOUMI |
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Formerly Known As : |
ELNASR CARTON CO |
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Registered Office : |
445 Abou Keir Street, Horreya Road Roushdy, Smouha Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Incorporation : |
1981 |
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Com. Reg. No.: |
79450, Alexandria |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and printing of corrugated cardboard for boxes and sheets. |
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No. of Employees : |
300 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 backtracked on economic reforms, drastically increasing
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 were among the
hardest hit sectors of the Egyptian economy, and economic growth is likely to
remain slow during the next several years. The government drew down foreign
exchange reserves by more than 50% in 2011 and 2012 to support the Egyptian
pound and the dearth of foreign financial assistance - as a result of
unsuccessful negotiations with the International Monetary Fund over a
multi-billion dollar loan agreement which have dragged on more than 20 months -
could precipitate fiscal and balance of payments crises in 2013.
Source
: CIA
Company Name : NASR CARTON AHMED MOHAMED ALI BAYOUMI
Also Known As : ELNASR CARTON CO
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1981
Commercial Registration Number : 79450, Alexandria
Industry Registration Number : 25699
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 300
Activities : Manufacture and printing of corrugated cardboard for boxes and sheets.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
NASR CARTON AHMED MOHAMED ALI BAYOUMI
ALSO KNOWN AS: ELNASR CARTON CO
Street : 445 Abou
Keir Street, Horreya Road
Area : Roushdy, Smouha
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5440705
/ 5431447 / 5434735
Facsimile : (20-3) 5457080
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Alexandria.
Branch Office (s)
Location Description
· 3rd
Industrial Zone, Plot No. 2/8, Block 20, Borg El Arab El Gadida Factory premises
Tel: (20-3) 4592060
· 15 Mina Street Office
premises
Kafr Abu
Roushdy
Sidi
Gaber
Alexandria
· 37 Abd El Khalek Sarwat
Street, 2nd Floor Office
premises
Cairo
Tel: (20-2)
23933667
Fax: (20-2)
23933668
· El Casino Street Factory
premises
El Horreya Road
El Mandara El
Baharia
Alexandria
Tel: (20-3)
5563564 / 5563544
· Omm Zeghio Road Factory
premises
Industrial Zone
Amreya
Alexandria
Tel: (20-3)
4300146
Fax: (20-3)
4371449
Name Position
· Mohamed Ali
Bayoumi Chairman
· Ahmed Mohamed Ali
Bayoumi Vice
Chariman
· Marwa Mohamed Ali
Bayoumi Director
· Safwa Mohamed Ali
Bayoumi Director
· Radwa Mohamed Ali
Bayoumi Director
· Mohamed Ahmed
Hamam Financial
Manager
· Mohsen Ali El
Shamy Factory
Manager
· Doaa Habib Office
Manager
Date of
Establishment : 1981
Legal Form : Egyptian Joint Stock
Company
Commercial Reg.
No. : 79450, Alexandria
Industry Reg. No. : 25699
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
· Mohamed Ali
Bayoumi 50%
· Ahmed Mohamed Ali
Bayoumi ]
]
· Marwa Mohamed Ali
Bayoumi ]
] 50%
· Safwa Mohamed Ali
Bayoumi ]
]
· Radwa Mohamed Ali
Bayoumi ]
Activities: Engaged in the manufacture and printing of corrugated cardboard for
boxes and sheets.
Import Countries: Germany, France, China and India.
Operating Trend: Steady
Subject has a workforce of approximately 300 employees.
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
18,800,000 £E
20,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Al Watany Bank of Egypt
601 Horreya Road
Alexandria
Tel: (20-3) 5745621
Fax: (20-3) 5703282
·
Commercial International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 4824643 / 4834255
Fax: (20-3)
4832240
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.61.11 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.