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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
ROTO PACK MISR COMPANY FOR PRINTING PACKAGING MATERIAL SAE |
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Registered Office : |
Industrial Zone A2, 8A/4A 18/4B, El-Madina Street, Cairo / Ismailia
Desert Road, Sharkeya, PO Box: 434, Tenth of Ramadan City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1985 |
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Com. Reg. No.: |
52385 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of polypropylene and polyethylene flexible films |
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No. of Employees : |
186 |
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 |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 : ROTO PACK
MISR COMPANY FOR PRINTING PACKAGING MATERIAL SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1985
Commercial Registration Number :
52385
Industry Registration Number :
93170
Tax Card Number :
100-258-301
Issued Capital :
£E 27,000,000
Paid up Capital :
£E 27,000,000
Total Workforce :
186
Activities :
Manufacturers of polypropylene and polyethylene flexible films
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ROTO PACK MISR COMPANY FOR PRINTING PACKAGING MATERIAL SAE
Registered &
Physical Address
Building : Industrial
Zone A2, 8A/4A 18/4B
Street : El-Madina Street,
Cairo / Ismailia Desert Road
Area : Sharkeya
PO Box : 434
Town : Tenth of
Ramadan City
Country : Egypt
Telephone : (20-15) 413099
/ 413110 / 413111 / 413170
Facsimile : (20-15) 413108
Mobile : (20-10)
5269518
Email : rotopack@link.net
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Tenth of Ramadan City.
Branch Office (s)
Location Description
4th Industrial Zone, Plot No. 78 Factory premises
6th of October City
Tel: (20-2) 38334996 / 38330674 / 38334997
Fax: (20-2) 38331228
Name Position
Mohamed El Hady Zaghal Chairman
Selim Mohamed El Hady Zaghal Vice
Chairman
Mohamed Abd El-Salam El Bakary Managing
Director
Hany Jean Tanous Director
Fawzy Elias Farag Director
Ayad El Dogy Director
Amr Nabil Shetta Director
Rafal Pires General
Manager
Abd El Fattah Abd El Aziz Finance Manager
Mohamed Hassan Accountant
Manager
Shaaban El Sayed Production
Manager
Yaccoub Fayez Engineering
Manager
Mohamed Ibrahim Technical
Manager
Mahmoud Attwa Human
Resources Manager
Emad Helmy Maintenance Manager
Ayman Abd El Alim Sales
Manager
Date of Establishment : 1985
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 52385
Industry Reg. No. : 93170
Tax Card No. : 100-258-301
Issued Capital : £E 27,000,000
Paid up Capital : £E 27,000,000
Name of
Shareholder (s) Percentage
Porta Egypt for Packaging Materials 99.59%
Cairo
Local businessmen and private investors 0.35%
Altea Packaging 0.06%
Tunisia
Activities: Engaged in the
manufacture of polypropylene and polyethylene flexible films.
Production Capacity: 450 tonnes per month
Import Countries: Italy,
Germany, France, Brazil, India, China and the United Arab Emirates.
Export Countries: Poland,
Libya, Sudan and Morocco.
Operating Trend: Steady
Subject has a workforce of 186 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
114,946,046 £E
120,888,659
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)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
Export Development Bank of Egypt
1st District Centre, Group D
Sharkeya
Tenth of Ramadan City
Tel: (20-15) 367203
Fax: (20-15) 362638 / 362639
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.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
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.