|
Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOBUSCH PACKAGING EGYPT SAE (KPE) |
|
|
|
|
Registered Office : |
First Industrial
Zone, Block 7, New Borg El Arab, P O Box 440, Alexandria |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishments: |
1992 |
|
|
|
|
Com. Reg. No.: |
134024, Alexandria |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturers of flexible
packaging materials |
|
|
|
|
No. of Employees : |
300 |
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 : |
Regular |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 drastically increased 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 are among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow at least through 2012. The government is utilizing foreign exchange reserves to support the Egyptian pound and Egypt may seek a loan from the International Monetary Fund.
|
Source : CIA |
Company Name : KOBUSCH PACKAGING EGYPT SAE (KPE)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1992
Commercial Registration Number : 134024, Alexandria
Industrial Licence Number : 23790
Tax Card Number : 100-443-117
Issued Capital : £E 62,621,000
Paid up Capital : £E 62,621,000
Total Workforce : 300
Activities : Manufacturers of flexible packaging materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Hassan Ibrahim, Financial Controller
KOBUSCH PACKAGING
EGYPT SAE (KPE)
Registered &
Physical Address
Location : First Industrial Zone, Block 7
Area : New Borg El Arab
PO Box : 440
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4591023 / 4938164 / 4592472 /
4592473
Mobile : (20-12) 7698866 / 7698855
Email : wdaabis@pactiv.com / rarasole@pregis.com
Premises
Subject operates
from a large suite of offices, warehousing and a factory that are owned and
located in the Industrial Area of Alexandria.
Branch Offices
Location Description
·
Suez
Canal Tower Office
premises
4 Ibn Kathier Street
Giza
Cairo
Tel: (20-2) 33360935
Fax: (20-2) 33360935
Name Position
·
Rabeh Mohamed Fouzi El Sherif General
Manager
·
Maged Hassan Finance
Manager
·
Hassan Ibrahim Financial
Controller
·
Abdul
Moniem Dawoud Purchasing
Manager
·
Mohamed
Farghaly Operations
Manager
·
Atef Omar R
& D Manager
·
Yaser
Medhat Administration
Manager
Date of Establishment : 1992
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 134024,
Alexandria
Industrial Licence No. : 23790
Tax Card No. : 100-443-117
Issued Capital : £E 62,621,000
Paid up Capital : £E 62,621,000
Name of Shareholder
(s) Percentage
·
Pregis Corporation 100%
1650 Lake Cook Road
Suite 400
Deerfield, IL
60015
United States of America
Tel: (1-847) 5972200
Activities: Engaged in the manufacture and export of flexible packaging materials, including printed plastic bags for juice and powdered milk, as well as printing for plastic sacks, aluminium and paper.
Subject is ISO 9001:2000 certified.
Production
Capacity: 14,300 tonnes per
annum
Import
Countries: Netherlands,
Germany, France, Qatar and the United States of America.
Export
Countries: Saudi Arabia,
Yemen, United Arab Emirates, Lebanon, Morocco, Nigeria and Kenya.
Operating Trend: Steady
Subject has a
workforce of approximately 300 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 170,000,000 £E 210,000,000
Local sources
consider subject’s financial condition to be Fair.
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
·
Egyptian
American Bank
14 Salah Salem Street
PO Box: 1737
Alexandria
Tel: (20-3) 4835008
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No Complaints
Currency Pounds
Sterling
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
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.