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Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
HELWAN ENGINEERING INDUSTRIES SAE (FACTORY
99) |
|
|
|
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Registered Office : |
Helwan, P O
Box11726, Cairo |
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|
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Country : |
Egypt |
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Year of Establishment: |
1958 |
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Com. Reg. No.: |
121049, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturer of table ware, stainless steel kitchen ware, fire extinguishers, gas regulators and cylinders for stoves & engine parts, shock absorbers and wheel rims, gates and railings |
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|
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No. of Employees : |
7500 |
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 : |
Good |
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|
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Payment Behaviour : |
Regular |
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|
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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 |
B1 |
B1 |
|
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 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 : HELWAN ENGINEERING INDUSTRIES SAE (FACTORY 99)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1958
Commercial Registration Number : 121049, Cairo
Issued Capital : £E 36,222,000
Paid up Capital : £E 36,222,000
Total Workforce : 7,500
Activities :
Manufacture of table ware, stainless steel kitchen
ware, fire
extinguishers, gas regulators and cylinders for stoves & engine parts, shock absorbers and wheel rims, gates and railings
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
HELWAN ENGINEERING
INDUSTRIES SAE (FACTORY 99)
Registered &
Physical Address
Location : Helwan
PO Box : 11726
Town : Cairo
Country : Egypt
Telephone : (20-2) 25552390 / 25552389 / 25552401
/ 25552380
Facsimile : (20-2) 25552394
Email : heic4@hotmail.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Cairo.
Branch Office
(s)
Location Description
·
Shamla Building, Shop No.407 Showroom
premises
26th July Street
Cairo
·
7 El Tahrir Square Showroom
premises
Cairo
Tel: (20-2) 25757413
·
5 Armed Forces Buildings Showroom
premises
Ard El Mazraa, Pyramids, Giza
Cairo
Tel:
(20-2) 35841436
·
El Madina Centre, Bldg. No. 1, Shop No. 5 Showroom
premises
Sharkeya
Tenth of
Ramadan City
·
66 El Horreya Road Showroom
premises
Alexandria
·
Shoubra
Al Kheima Showroom
premises
Kaliubeya
·
8 Armed Forces Buildings Maintenance
Centre
Ard El Mazraa, Pyramids, Giza
Cairo
Tel:
(20-2) 22634427
Name Position
·
Mohamed
Amin Abdel Razek Chairman
·
Abdel
Naby Abdel Kader Khamis Vice
Chairman
·
Ahmed
Hassan Director
·
Abdel
Kader El Deeb Hassan Director
·
Gamil
Mahmoud Salem Director
·
Mohamed
Shehab Director
·
Salah Abdel
Moaty Director
·
Samir
Tadrous Finance
Manager
·
Mahmoud
Abdel Salam Marketing
Manager
·
Mohamed
Soliman Khalaf Purchasing
Manager
·
Abbass
Moursi Quality
Manager
·
Ahmed
El Sherbiny Engineering
Manager
·
Ahmed Abbass
Mikhemar Administration
Manager
·
Abdel
Aal Mohamed Abdel Aal Maintenance
Manager
·
Mohamed
Diaa Logistic
Manager
·
Khalaf
Mohamed Soliman Commercial
Manager
Date of Establishment : 1958
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 121049, Cairo
Export Reg. No. :
00005230
Issued Capital : £E 36,222,000
Paid up Capital : £E 36,222,000
Name of Shareholder
(s) Percentage
·
National
Organisation for Military Production (NOMP) * 100 %
19, El Falaky Street
Abdin
Cairo
Tel: (20-2) 33551428
Fax: (20-2) 33553617
* National Organisation for Military Production (NOMP) is wholly
owned by the government of Egypt and is responsible to the Ministry of Military
Production.
Ministry
of Military Production
5,
Ismail Abaza Street
Dareeh
Saad
Cairo
Tel:
(20-2) 25941589
Fax:
(20-2) 25941614
Subject is wholly owned by the National Organisation for Military Production
(NOMP), which also holds stakes in the following concerns :
·
Abu Kir
Co for Engineering Industries SAE (Factory 10)
Abu Kir Industrial City
Alexandria
Tel : (20-3) 5601410 / 5601378 / 5303631
Fax : (20-3) 5603392
·
Abu
Zaabal Co for Speciality Chemicals SAE (Factory 18)
Abu Zaabal Al Balad
Heliopolis
Cairo
Tel : (20-2) 2910011 / 4698936
/ 4698957
Fax : (20-2) 4698936
·
Abu
Zaabal Co for Engineering Industries SAE (Factory 100)
9, Mahmoud Talaat Street
Heliopolis West
PO Box : 5888
Cairo
Tel : (20-2) 2916962 / 4695222
Fax : (20-2) 4691228
·
Benha
Co for Electronic Industries SAE (Factory 144)
El Ashraf Street
Atrieb
Kaliubiya 13779
Tel : (20-13) 222891 / 222447
Fax : (20-13) 224237
·
Computer
Centre SAE
7, Maamal El Sokar Street
Garden City
Cairo
Tel : (20-2) 3551071
·
Heliopolis
Co for Chemical Industries SAE (Factory 81)
Sindbad Road
Haykstep, Heliopolis
Cairo
Tel : (20-2) 2810899 / 2810898
Fax : (20-2) 2810828
·
Helwan
Co for Non Ferrous Industries (Factory 63)
Helwan El Hammamet
Helwan
PO Box : 11726
Cairo
Tel : (20-2) 5559713
Fax : (20-2) 5559718
·
Helwan
Co for Metallic Appliances (Factory 360)
Potarf
Helwan
Cairo
Tel : (20-2) 5561805 / 5561709
Fax : (20-2) 5562983
·
Helwan
Co for Machine Tools SAE (Factory 999)
Ein Helwan, Helwan
PO Box : 1726
Cairo
Tel : (20-2) 5556800
Fax : (20-2) 5552548
·
Helwan
Iron Foundries SAE (Factory 9)
Ein
Helwan, Helwan
Cairo
Tel : (20-2) 5552257 / 5552264
Fax : (20-2) 5552260 / 5552263
·
Helwan
Co for Diesel Engines SAE (Factory 909)
Shubra El Khaima, Road No. 15
PO Box : 33
Helwan
Cairo
Tel : (20-2) 5553845 / 5788840
Fax : (20-2) 2202513
·
Kaha Co
for Chemical Industries SAE (Factory 270)
Kaha Industrial Area
Kaliubiya 13779
Tel : (20-13) 600441 / 600300
Fax : (20-13) 600191 / 600788
·
Maasara
Co For Engineering Industries SAE (Factory 45)
Corniche El Nil
PO Box : 11713
Cairo
Tel : (20-2) 3697578 / 3697873 / 3697445 /
3697615
Fax : (20-2) 3696025
·
Shubra
Co for Engineering Industries SAE (Factory 27)
Teraat El Ismailia Road
Shubra
PO Box : 11241, Magd El Eslam
Cairo
Tel : (20-2) 2839348 / 4267716 / 4267709
Fax : (20-2) 4267710
·
Tanks
Production & Repairing Co SAE (Factory 200)
Also Known As : Abu Zaabal Tank Repair
Factory
Belbais Road
Cairo
Tel: (20-2) 2818020
·
Maadi For
Engineering Industries SAE (FACTORY 54)
Corniche El Nil Street
Maadi
PO Box: 414
Cairo
Tel: (20-2) 3581722 / 3582715
/ 3584008 / 3516567 / 3582824
Activities: Engaged in the manufacture of
table ware, stainless steel kitchen ware, fire extinguishers, gas regulators
& cylinders for stoves & engine parts, shock absorbers and wheel rims,
gates and railings.
Subject
is ISO 9001 Certified.
Import
Countries: Germany,
Netherlands, Poland and India
International Suppliers:
·
Amefa Netherlands
·
Mannesman Germany
Subject has a
workforce of approximately 7,500 employees.
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
·
National
Bank of Egypt
24, Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
No complaints
regarding subject’s payments have been reported.
Amount overdue 0 0
Payment terms 90
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.69 |
|
UK Pound |
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
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.