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Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
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Name : |
KAPCI COATINGS |
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Registered Office : |
2nd Industrial Zone, El Raswa, South Port Said PO Box 118 Port Said |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Incorporation : |
1985 |
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Com. Reg. No.: |
31818, Ismailia |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of paints, varnishes and adhesives. |
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No. of Employees : |
1,500 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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
|
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 : KAPCI COATINGS
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1985
Commercial Registration Number : 31818, Ismailia
Industrial Registration Number : 29154
Tax Card Number : 205-134-394
Issued Capital : £E 20,000,000
Paid up Capital : £E 20,000,000
Total Workforce : 1,500
Activities : Manufacturers of paints, varnishes and adhesives.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
KAPCI COATINGS
Location : 2nd
Industrial Zone, El Raswa, South Port Said
PO Box : 118
Town : Port Said
Country : Egypt
Telephone : (20-66) 3770000
/ 3770003 / 3770004 / 3770005
Facsimile : (20-66)
3770010 / 3770011 / 3770012
Mobile : (20-10)
1820770 / 1820419
Email : info@kapci.com
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Port Said.
Name Position
· Mohamed Mohamed
Ahmed El Sayed Managing
Partner
· Hassan El Badrawy
Hassan Partner
· Lotfy El Badrawy
Hassan Partner
· Adel El Sayed Partner
· Mohamed Mosaad El
Shamy Partner
· Mohamed Abd El
Hakim Sales
Manager
· Mohamed Kourish Purchasing
Manager
· Khaled Sourour Export
Manager
· Mohamed Shaaban Financial
Manager
Date of
Establishment : 1985
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 31818, Ismailia
Industrial Reg.
No. : 29154
Tax Card No. : 205-134-394
Issued Capital : £E 20,000,000
Paid up Capital : £E 20,000,000
· Mohamed Mohamed
Ahmed El Sayed 38%
· Hassan El Badrawy
Hassan 38%
· Lotfy El Badrawy
Hassan 10%
· Adel El Sayed 4%
· Mohamed Mosaad El
Shamy 4%
· Mohamed Mohamed El
Sayed 4%
· Shimaa Mohamed El
Sayed 2%
Activities: Engaged in the manufacture and export of paints and varnishes for
vehicles and buildings, as well as
industrial paints, glue and polishes for furniture.
Subject is ISO 9001 & ISO 14001 & ISO
IEC 17025/1999 & OHSAS 18001 accredited.
Production Capacity: 120,000 tons per year
Import Countries: Germany, Italy, France, China and the United
States of America
Export Countries: Saudi Arabia, Jordan, Syria, Lebanon, Kuwait,
Yemen, Kenya, Uganda, Singapore, Pakistan,
Libya, Republic of Ireland, South Africa,
Israel, United Kingdom, United Arab Emirates, Bahrain,
Sudan, Madagascar, Mauritius and Gabon.
Brand Names : KAPCI
Operating Trend: Steady
Subject has a workforce of approximately 1,500 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
682,000,000 £E
691,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
Commercial International Bank (CIB)
El Gomhouria Street
Port Said Free Zone
Port Said
Tel: (20-66) 336801
Fax: (20-66) 325956
·
National Bank of Egypt
52 El Gomhouria
Street
Port Said
Tel: (20-66)
224816 / 226637
Fax: (20-66)
327008
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.54.82 |
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|
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.83 |
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 |
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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.