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Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
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Name : |
CAIRO POULTRY PROCESSING COMPANY (CPPC) |
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Formerly Known As : |
CAIRO POULTRY SLAUGHTER HOUSES |
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Registered Office : |
9 Ibn Wardy Street Heliopolis Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Incorporation : |
1992 |
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Com. Reg. No.: |
71235, Sharkeya |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Production of various poultry products. |
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No. of Employees : |
1,500 |
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 : |
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 – 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 |
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Moderate |
B1 |
|
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 : CAIRO POULTRY PROCESSING COMPANY (CPPC)
Also Known As : CAIRO POULTRY SLAUGHTER HOUSES
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1992
Commercial Registration Number : 71235, Sharkeya
Tax Card Number : 207-336-512
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
Total Workforce : 1,500
Activities : Production of various poultry products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
CAIRO POULTRY PROCESSING COMPANY (CPPC)
ALSO KNOWN AS: CAIRO POULTRY SLAUGHTER HOUSES
Street : 9 Ibn Wardy
Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 35714124
/ 35714125
Email : cppc@mail.rite.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Cairo
Branch Office (s)
Location Description
· 3rd
Industrial Zone A1 Owned
factory premises
Sharkeya
PO Box:
405
10th
of Ramadan City
Tel:
(20-15) 410721 / 410722 / 362097 / 362904 / 410723 / 410724
Fax:
(20-15) 410720
Email: koki@click.com.eg
· 4 Street No. 151 Office premises
Maadi
Cairo
· 1 Radwan Ibn El
Tabib Street Office
premises
Giza
Cairo
Tel: (20-12)
2184794
Name Position
· Moustafa Mohamed
Rashed Chairman
· Ahmed Refaat General
Manager
· Alber El Bany Administration
Manager
· Yasser Abd El
Moneim Finance
Manager
· Showky Noussir Commercial
Manager
· Sameh Fathi Marketing
Manager
· Mohamed Talaat Sales
Manager
· Samir El Sebaei Purchasing
Manager
· Ahmed Hassan Human
Resources Manager
Date of
Establishment : 1992
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 71235, Sharkeya
Tax Card No. : 207-336-512
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
· Cairo Poultry
Company (CPC) 99.96%
32 Mourad
Street
Giza
PO Box:
42
Cairo
Egypt
Tel:
(20-2) 25713975 / 25715905 / 25715906
Fax:
(20-2) 25738548 / 25715905
· Ahmed Abd El Kader
El Monairy 0.04%
· New Cairo Poultry
Company (NCPC)
3rd Industrial
Zone, B2, Plot No. 168
Sharkeya
10th of
Ramadan City
Tel: (20-15)
369551 / 369552 / 368551
Fax: (20-15)
369552
· Misr Poultry
Grandparents Company (MPG)
15a Radwan Ibn El
Tabib Street
Giza
PO Box: 125
Cairo
Tel: (20-2)
25726099 / 25726050
Fax: (20-2)
25716509
· Cairo Poultry
Grandparents Company
32 Mourad
Street
Giza
Cairo
Tel:
(20-2) 25713975 / 25715905 / 25715906
Fax: (20-2)
25738548 / 25715905
Activities: Engaged in the production of various poultry products. KoKi Products
include packaged whole chicken, chicken parts, breaded chicken fillets,
nuggets, wings, drum sticks, tenderloin, patties, escalope, hot wing, grill,
fahita, and KoKi Fries.
All products are FDA approved and the poultry are slaughtered and
prepared in accordance with the
Islamic Sharia (Halal).
Subject’s clients include retailers, hotels and restaurants in Egypt and
throughout the Middle East.
Import Countries: Brazil, United States of America, Netherlands,
United Kingdom and Italy.
Export Countries: United States of America, Saudi Arabia, Kuwait,
Qatar, Bahrain and the United Arab Emirates.
Brand Names: KOKI
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 31/12/11: Year
Ending 31/12/12:
Total Sales £E
355,000,000 £E
362,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel: (20-2)
33912711 / 33912106
Fax: (20-2)
33919779
·
Delta International Bank
113 Corniche El
Nil Street
PO Box: 1159
Cairo
Tel: (20-2)
25740831
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
No complaints regarding subject’s payments have been reported.
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
<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.