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Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ALPHA CHEMICAL
EGYPT |
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Formerly Known As : |
ALPHA CHEMICAL
MISR |
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Registered Office : |
39 Melsa Building Ard El Golf, Nasr City, Cairo 11361 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1948 |
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Com. Reg. No.: |
109131, Cairo |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Production and
Distribution of Disinfectants and Detergents. |
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No. of Employees : |
70 |
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 : |
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 |
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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 : ALPHA
CHEMICAL EGYPT
Also Known As
: ALPHA CHEMICAL MISR
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Start Date :
1948
Registration Date : 2001
Commercial
Registration Number : 109131,
Cairo
Issued Capital : £E
250,000
Paid up Capital : £E
250,000
Total Workforce : 70
Activities :
Production and distribution of disinfectants and detergents.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ALPHA CHEMICAL
EGYPT
ALPHA CHEMICAL MISR
Building : 39 Melsa Building
Area : Ard El Golf, Nasr City
Town : Cairo 11361
Country : Egypt
Telephone : (20-2) 22914048
Facsimile : (20-2) 24178193
Mobile : (20-100) 6670509 / 1270160 /
(20-111) 5504100
Email : info@alphachemical-egypt.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Tawfekia Road Factory
premises
Kom Hamada
Kafr El Zayat
Beheira
Tel: (20-45)
9115644
Name Position
·
Ali Ibrahim Moosa Hussain Managing
Partner
·
Hussain Ibrahim Moosa Hussain Partner
·
Nareman
Ibrahim Moosa Hussein Partner
·
Hesham
Abd El Latif Finance
Manager
·
Ibrahim
Zohny Marketing
Manager
·
Omar
Sakoury Poultry
Sales Manager
·
Wael
Shafiq Dairy
Sales Manager
Date of Establishment : 1948, However
subject was registered in 2001.
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 109131,
Cairo
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
·
Ali Ibrahim Moosa Hussain 40%
·
Hussain Ibrahim Moosa Hussain 40%
·
Nareman
Ibrahim Moosa Hussein 20%
Activities: Engaged in the production and distribution
of disinfectants and detergents for milking machinery and teat dip and poultry
farms. Subject is also engaged in the distribution of paper machinery and
chemicals.
Import
Countries: India, Germany
and the United States of America
Export
Countries: Libya, Jordan,
Syria, Kuwait and the United Arab Emirates
Operating Trend: Steady
Subject has a
workforce of 70 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 23,000,000 £E 24,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Credit
Agricole Egypt
4 Syria Street
Mohandessin, Giza
Cairo
Tel: (20-2) 37608228
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.53.95 |
|
|
1 |
Rs.70.50 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
|
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 |
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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 |
|
<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.