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Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ROTO HOUSE FOR PRINTING & PACKING
INDUSTRIES SAE |
|
|
|
|
Registered Office : |
3 Industrial Zone,
Plot No. 28, 6th of October City |
|
|
|
|
Country : |
Egypt |
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|
|
|
Year of Establishments: |
2010 |
|
|
|
|
Com. Reg. No.: |
44151, 6th
of October City |
|
|
|
|
Legal Form : |
Egyptian Joint
Stock Company |
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|
|
|
Line of Business : |
Manufacture and printing of plastic
products for packaging and wrapping |
|
|
|
|
No. of Employees : |
90 |
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 : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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 : ROTO HOUSE FOR
PRINTING & PACKING INDUSTRIES SAE
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 2010
Commercial
Registration Number : 44151, 6th
of October City
Tax Card Number : 392-747-247
Issued Capital : £E
25,000,000
Paid up Capital : £E
25,000,000
Total Workforce : 90
Activities :
Manufacture and printing of plastic products for packaging and wrapping.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
ROTO HOUSE FOR
PRINTING & PACKING INDUSTRIES SAE
Registered & Physical Address
Location : 3 Industrial Zone, Plot No. 28
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38342047 / 38342073 / 38342057
Facsimile : (20-2) 38342071
Mobile : (20-100) 1573999
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of 6th of October City.
Name Position
Sameh Riad Nasser Chairman
Hatem Adel Abd El
Fattah Managing
Director
Ahmed Hegazy Financial
Manager
Ashraf El Mohamady Sales
Manager
Date of
Establishment : 2010
Legal Form : Egyptian Joint Stock Company
Commercial Reg.
No. : 44151, 6th of October City
Tax Card No. :
392-747-247
Issued Capital : £E 25,000,000
Paid up Capital : £E 25,000,000
Name of Shareholder (s) Percentage
Ghareb Mohamed Aly
Attia 20%
Members of the Riad
Nasser Family 40%
Local businessmen
and private investors 40%
Activities: Engaged in the manufacture and printing of
plastic products for packaging and wrapping, mainly serving the food production
industry.
Import
Countries: China,
Indonesia, Italy and Syria.
Subject has a
workforce of 90 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.
Al Watany Bank of
Egypt
PO Box: 750
Cairo
Tel: (20-2)
33379363
Fax: (20-2)
33772959
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.
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.57.74 |
|
UK Pound |
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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.