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Report Date : |
05.01.2013 |
IDENTIFICATION DETAILS
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Name : |
ARMA FOOD INDUSTRIES SAE |
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|
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Registered Office : |
Khaled Ibn El Walid Street, B2, Industrial Zone, Sharkeya, 10th of Ramadan
City |
|
|
|
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Country : |
Egypt |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
69289 |
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Legal Form : |
Egyptian Joint Stock Company |
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|
|
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Line of Business : |
Processing, packaging and export of vegetables
and edible oils. |
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|
|
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No. of Employees : |
1,400 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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
|
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 |
Company Name : ARMA FOOD
INDUSTRIES SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1992
Commercial Registration Number : 69289, Sharkeya
Issued Capital :
£E 126,250,000
Paid up Capital :
£E 126,250,000
Total Workforce :
1,400
Activities :
Processing, packaging and export of vegetables and
edible oils.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ARMA FOOD INDUSTRIES SAE
Registered &
Physical Address
Street : Khaled Ibn El Walid Street
Area : B2, Industrial Zone, Sharkeya
Town : 10th of Ramadan City
Country : Egypt
Telephone : (20-15) 365240 / 365984 / 365983 / 365982
Facsimile : (20-15) 365481 / 365981
Email : raouf-amer@arma.com.eg
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of the 10th of Ramadan
City.
Branch Office (s)
Location Description
52 El Thawra Street Rented
office premises
Heliopolis
Cairo
Tel: (20-2) 24180889 / 24184040
Fax: (20-2) 24171967 / 24171968
Ragab Warehouse Rented
warehouse premises
Smouha
Alexandria
Tel: (20-3) 4214797
Industrial Zone Rented
warehouse premises
El Marwaha
El Qahira El Gedida
Helwan
El Zeraieen Tower, 4th Floor Rented
office premises
Galaa Street
Assiut
Name Position
Abd El Rahman Hayel Saeed Chairman
Mahfouz Ali Mohamed Hayel Saeed Managing
Director
Ahmed Hayel Saeed Director
Abd El Gabbar Hayel Saeed Director
Fouad Hayel Saeed Director
Naguib Mahfouz Chief
Executive Officer
Ramy Salah Finance
Manager
Nashaat El Behiry Accounts
Manager
Ismail Hossam Marketing
Manager
Khaled Shaban Administration
Manager
Soheib Mohamed Al Soheiby Business
Development Manager
Date of Establishment : 1992
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 69289, Sharkeya
Tax Card No. : 2493
Issued Capital : £E 126,250,000
Paid up Capital : £E 126,250,000
Name of
Shareholder (s) Percentage
Hayel Saeed Group 69%
Yemen
Malaysian International Shipping 31%
Malaysia
Activities: Engaged in the processing, packaging
and export of vegetables and edible oils (including sun flower and corn oil) as
well as ghee.
Subject is ISO 9002 accredited.
Production Capacity: 250,000 tonnes per annum
Import Countries: Europe, Malaysia, United States of America and
Asia.
Export Countries: Syria, Lebanon, Yemen, Jordan, Israel, Iraq,
Sudan, Libya, Kenya and Guinea.
Brand Names: EL HANEEM, HAYATY, KOUT
and ELASEEL
Operating Trend: Steady
Subject has a workforce of approximately 1,400 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
552,500,000 £E
662,720,842
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
National Bank of Egypt
Sharkeya Branch
Tenth of Ramadan City
Tel: (20-15) 360833 / 360744 / 344144
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 35703043
Fax: (20-2) 35703172 / 35072691
Banque du Caire SAE
19 Adly Street
Cairo
Tel: (20-2) 33926915
Fax: (20-2) 33951713
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.54.84 |
|
UK Pound |
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.