|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL JAWHARA CO FOR FOOD INDUSTRIES |
|
|
|
|
Registered Office : |
Housh Eissa,
Beheira |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishments: |
1994 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of chips, snacks, biscuits, sweets and tea |
|
|
|
|
No. of Employees : |
65 |
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 – 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 : AL JAWHARA CO FOR FOOD INDUSTRIES
Country of Origin : Egypt
Legal Form : Limited Liability Company
Registration Date : 1994
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Total Workforce : 65
Activities : Manufacturers of chips, snacks, biscuits, sweets and tea
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL JAWHARA CO FOR FOOD INDUSTRIES
Registered &
Physical Address
Location : Housh Eissa
Town : Beheira
Country : Egypt
Telephone : (20-45) 2702802 / 2702804 / 2702805
Facsimile : (20-45) 2702801 / 2702809
Email : info@aljawharagroup.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Beheira.
Branch Offices
Location Description
·
Maarouf
Building, Gate B Office
premises
33A Ramsis Street
Cairo
Tel: (20-2) 25768027
Fax: (20-2) 25776966
Name Position
·
Hamdy
Quraitam Chairman
·
Medhat Hamdy
Quraitam Vice
Chairman
·
Anwar
Hamdy Quraitam Managing
Director
·
Karm
Sitteen Commercial
Manager
·
Nabil
Abdulaziz Purchasing
Manager
·
Ahmed
Saadon Sales
Manager
Date of Establishment : 1994
Legal Form :
Limited Liability Company
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Name of Shareholders
(s)
·
Hamdy
Quraitam
·
Medhat
Hamdy Quraitam
·
Anwar
Hamdy Quraitam
Activities: Engaged in the manufacture of chips, snacks,
biscuits, sweets and tea.
Subject is ISO 9001:2008,
HACCP, ISO 18001 and ISO 14001 accredited.
Import
Countries: Europe and the
Far East
Brand Names: MIX, CHIPSECO, MASRAWY, BREAK TIME, JOLIO,
SO MUCH, MIXLUXE, JUMBO GEM and LOLA
Operating Trend: Steady
Subject has a
workforce of 65 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 Revenue £E 16,480,000 £E 17,110,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
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.54.29 |
|
UK Pound |
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.70.61 |
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.