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Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
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Name : |
EL ALAMEIN CO FOR PRINTING & PACKAGING
INDUSTRIES SAE |
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Registered Office : |
1st Industrial Zone, Plot 1A, Block 13025, New Borg El Arab City, P O Box 76, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1921 |
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Com. Reg. No.: |
137151,
Alexandria |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture, printing and export of paper and cardboard for
different packaging |
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No. of Employees : |
730 |
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 |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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 : EL ALAMEIN CO FOR PRINTING & PACKAGING INDUSTRIES SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1921
Commercial Registration Number : 137151,
Alexandria
Tax Card Number : 202-447-987
Industrial Registration Number : 268570
Issued Capital : £E 80,000,000
Paid up Capital : £E 80,000,000
Total Workforce : 730
Activities :
Manufacture, printing and export of paper and cardboard for different
packaging
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
EL ALAMEIN CO FOR
PRINTING & PACKAGING INDUSTRIES SAE
Registered &
Physical Address
Location : 1st Industrial Zone, Plot 1A, Block 13025,
New Borg El Arab City
PO Box : 76
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4591040 / 4591050 / 4591060 / 3622323
Facsimile : (20-3) 4590035
Mobile : (20-122) 5737556
Email : info@alamein.net
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Alexandria.
Name Position
·
Mohamed El Sayed Abu Rida Chairman
·
Mohamed Assem Abu Rida Vice
Chairman
·
Zeinab Assem Abu Rida Director
·
Amina El Sayed Abu Rida Director
·
Mohamed Saad Zaghloul Finance
Manager
·
Ahmed
Sader Saleh Commercial
Manager
·
Magdy El Roby Administration
Manager
·
Azza Abd El Gawad Purchasing
Manager
Date of Establishment : 1921
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 137151,
Alexandria
Tax Card No. :
202-447-987
Industrial
Reg. No. : 268570
Authorised
Capital : £E 300,000,000
Issued Capital : £E
80,000,000
Paid up Capital : £E 80,000,000
Name of
Shareholder (s) Percentage
·
Mohamed El Sayed Abu Rida
25.0%
·
Al Amein Industrial & Commercial Investment
13.0%
·
Mohamed Assem Abu Rida 10.0%
·
Abu Rida Family 8.9%
·
Zeinab El Sayed Abu Rida 7.0%
·
Marwa Assem Abu Rida 6.5%
·
Zeinab Assem Abu Rida 6.5%
·
Nora Yassin 6.0%
·
Fatma El Zahraa El Sayed Abu Rida 5.8%
·
Amina El Sayed Abu Rida 5.5%
·
Nagda El Sayed Abu Rida 5.5%
·
Essmat Ahmed 0.3%
Activities: Engaged in the manufacture, printing and export of paper and cardboard for different packaging, as
well as paper bags and aluminum paper lining with polyester and polypropylene.
Import
Countries: United States of
America, France and India
Export
Countries: Saudi Arabia,
Libya, Syria and Sudan
Brand Names: EL ALAMEIN
Operating Trend: Steady
Subject has a
workforce of approximately 730 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 141,676,815 £E 146,047,994
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)
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
·
HSBC
Bank SAE
47 Sultan Hussein Street
Alexandria
Tel: (20-3) 4872949
·
Misr
International Bank (MIBANK)
Glym Branch
539 Bis, Horreya Road
Alexandria
Tel: (20-3) 5876572 / 5876279
Fax: (20-3) 5879601
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.58.45 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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.