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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MISR ROTOGRAVURE SAE |
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Registered Office : |
3rd
Industrial Area, Plot No. 164, Zone No. 25,
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Country : |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1994 |
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Com. Reg. No.: |
101692, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Operators of a printing press. |
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No. of Employees : |
250 |
RATING & COMMENTS
|
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 : |
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 |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : MISR ROTOGRAVURE SAE
Also Known As : ROTOGRAFIA CO
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1994
Commercial Registration Number : 101692, Giza
Tax Card Number : 205-022-332
Issued Capital : £E 7,000,000
Paid up Capital : £E 7,000,000
Total Workforce : 250
Activities : Operators of a printing press.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Riyad Walid El Kilani, Managing Director
MISR ROTOGRAVURE
SAE
ROTOGRAFIA CO
Registered &
Physical Address
Location : 3rd Industrial Area,
Plot No. 164, Zone No. 25
Street : 8 Hamad Street
Area : Giza
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38336403 / 38332942 / 38333892
/ 38290124 / 38341648 / 38342568
Facsimile : (20-2) 38332942 / 38333892 /
38342568 / 38290123 / 33989243
Mobile : (20-122) 3989241 / 3989243 / 2102810
/ 3887000
Email : misrroto@link.com.eg / info@rotogroup-eg.com / s.mohamed@rotogroup-eg.com
Premises
Subject operates
from a large suite of offices and a printing press that are owned and located
in the Industrial Area of 6th
of October City.
Name Nationality Position
·
Walid
El Kilani Jordanian Chairman
·
Riyad
Walid El Kilani Jordanian Managing Director
·
Nabil
Al Shamoti - General
Manager
·
Abu El
Khair Nour - Production
Manager
·
Tarif
Arafa - Financial
Manager
·
Mohamed
Samy - Sales
Manager
·
Saad El
Din Abdu - Marketing
Manager
·
Aziz
Khalil Aziz - Technical
Manager
Date of Establishment : 1994 –
Production began on 1st April 1996
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 101692, Giza
Tax Card No. :
205-022-332
Issued Capital : £E 7,000,000
Paid up Capital : £E 7,000,000
Name of Shareholder
(s)
·
Walid
El Kilani
·
Riyad
Walid El Kilani
·
Convertex
Sarl
Lebanon
·
Rotogravure
Industrial Investment
10th Of Ramadan City
·
Arab
Veterinary Industrial Co (AVICO)
Industrial City
PO Box: 150906
Amman
Jordan
Tel: (962-6) 5655901
·
Arab
Packaging Materials Co Ltd
Kalboneh Building, 6th Floor
Wadi Sakrah Street
PO Box: 150906
Amman 11115
Jordan
Tel: (962-6) 4655901 / 4628064
Fax: (962-6) 4628064
·
Jordan
Rotogravure Establishment
Dahiat El Amir Rashed
PO Box: 950747
Amman
Jordan
Tel: (962-6) 5822365
Fax: (962-6) 5822365
Activities: Owners and operators of a printing press,
providing rotogravure and flexo printing services.
Import
Countries: Germany, United
Kingdom, Italy, Netherlands, Jordan and Saudi Arabia.
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 91,300,000 £E 95,000,000
Local sources
consider subject’s financial condition to be Good.
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
·
Arab
Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 33029069 / 33029070
Fax: (20-2) 33029068
No complaints
regarding subject’s payments have been reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.59 |
|
UK Pound |
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
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.