|
Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL HASSANA COMPANY FOR QUARRIES MARBLE AND GRANITE SAE |
|
|
|
|
Registered Office : |
Shak El Thoban Industrial Zone, Torrah, Maadi, Cairo 11728 |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1986 |
|
|
|
|
Com. Reg. No.: |
1818, Cairo |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Processing and cutting of marble |
|
|
|
|
No. of Employees : |
120 |
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 – 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 |
|
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 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 : AL HASSANA
COMPANY FOR QUARRIES MARBLE AND GRANITE
SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1986
Commercial Registration Number :
1818, Cairo
Import Registry Number :
0021162
Issued Capital :
£E 150,000
Paid up Capital :
£E 150,000
Total Workforce :
120
Activities :
Processing and cutting of marble
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL HASSANA COMPANY FOR QUARRIES MARBLE AND GRANITE SAE
Registered &
Physical Address
Location : Shak El Thoban
Industrial Zone, Torrah, Maadi
Town : Cairo 11728
Country : Egypt
Telephone : (20-2) 27541047
/ 27541149 / 29700402
Facsimile : (20-2)
27541047 / 29700248
Mobile : (20-122)
7119260
Email : khaled@al-hassana.com
Premises
Subject operates from a medium sized suite of offices, a quarry and
processing facilities that are rented and located in the Industrial Area of
Cairo.
Branch Office (s)
Location Description
10 El Mahdy Abd El Moneim
Street Office
premises
Nasr City
Cairo
Tel: (20-2) 22610247
Fax: (20-2) 22614543
Name Position
Nour El Din Zaki Chairman
Ahmed Fawzy Ahmed Director
Tarek Nour El Din Zaki Director
Date of Establishment : 1986
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 1818, Cairo
Imp. Registry No. : 0021162
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Name of
Shareholder (s)
Nour El Din Zaki
Ahmed Fawzy Ahmed
Tarek Nour El Din Zaki
Activities: Engaged in the
processing and cutting of marble.
Subject
owns marble quarries in Arish, Minia and Hurghada.
Export Countries: Italy, China, United States of America,
United Kingdom, Greece, Spain, France, Israel, Singapore, United Arab Emirates,
Saudi Arabia, Qatar and Libya.
Operating Trend: Steady
Subject has a workforce of approximately 120 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
61,200,000 £E
64,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Al Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 33379363
Fax: (20-2) 33772959
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.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.