MIRA INFORM REPORT
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Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
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Name : |
PERFECTO PLAST SAE |
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Registered Office : |
Industrial Zone, 250
Acre, Plot 150/155, Badr City, Helwan, Cairo |
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Country : |
Egypt |
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Year of Establishments: |
2010 |
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Com. Reg. No.: |
47774, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturer of chemicals for plastic colouring |
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No. of Employees : |
35 |
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) |
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Egypt |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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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.
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Source : CIA |
SUMMARY
Company Name : PERFECTO PLAST SAE
Also Known As : PERFECTO GROUP FOR PLASTIC
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2010
Commercial Registration Number : 47774, Cairo
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Total Workforce : 35
Activities : Manufacture of chemicals for plastic colouring.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
PERFECTO PLAST SAE
ALSO
KNOWN AS
PERFECTO GROUP FOR PLASTIC
Company ADDRESS
Registered & Physical
Address
Location : Industrial Zone, 250 Acre, Plot
150/155, Badr City, Helwan
Town : Cairo
Country : Egypt
Telephone : (20-2) 23108176 / 23108177
Facsimile : (20-2) 23108177
Premises
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
El
Sayed Mansour El Kafrawi Managing
Director
·
Atef
Metwally Director
·
Hamdy
Gaballah Director
·
Samy
Zewail Director
·
Tarek
Tawfik Director
LEGAL FORM & OWNERS
Date of Establishment : 2010
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 47774, Cairo
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Name of Shareholder
(s) Percentage
·
El
Sayed Mansour El Kafrawi 20%
·
Atef
Metwally 20%
·
Hamdy
Gaballah 20%
·
Samy
Zewail 20%
·
Tarek
Tawfik 20%
OPERATIONS
Activities: Engaged in the manufacture of chemicals for
plastic colouring.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 35 employees.
FINANCIAL DATA
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Citibank
PO Box: 188
Cairo
Tel: (20-2) 33551877 / 33551874
Fax: (20-2) 33558056
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.55.99 |
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UK Pound |
1 |
Rs.84.19 |
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Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.