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Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
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Name : |
PLAST CENTER |
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Registered Office : |
4 El Tallagga Street,
Mansheyat El Sad El Aly, Gesr El Suez, Cairo |
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|
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
17.02.1992 |
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Com. Reg. No.: |
293219, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of printed and self-adhesive plastic films
for wrapping shirts |
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No. of Employees : |
60 |
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 |
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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 |
|
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 : PLAST CENTER
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 17th February 1992
Commercial Registration Number : 293219, Cairo
Tax Card Number : 100-461-018
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 60
Activities : Manufacturers of printed and self-adhesive plastic films for wrapping
shirts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
PLAST CENTER
Registered &
Physical Address
Street : 4 El Tallagga Street
Area : Mansheyat El Sad El Aly, Gesr
El Suez
Town : Cairo
Country : Egypt
Telephone : (20-2) 22971755 / 22972410
Facsimile : (20-2) 22446330
Mobile : (20-12) 3107238 / (20-18)
4226638 / (20-16) 8830656 / 8830654
Email : pc_plastcenter@yahoo.com
Premises
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Suburban Business Area of Cairo.
Name Position
·
Lawrence
Louis Sidhom Managing
Partner
·
Shareef
Lawrence Louis Sidhom Partner
·
Wael
Lawrence Louis Sidhom Partner
·
Samer
Lawrence Louis Sidhom Partner
Date of Establishment : 17th
February 1992
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 293219,
Cairo
Tax Card No. : 100-461-018
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of
Shareholder (s)
·
Lawrence
Louis Sidhom
·
Shareef
Lawrence Louis Sidhom
·
Wael
Lawrence Louis Sidhom
·
Samer
Lawrence Louis Sidhom
Activities: Engaged in the manufacture of printed and self-adhesive
plastic films for wrapping shirts.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 60 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 14,200,000 £E 14,550,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
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.58.45 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
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.