MIRA INFORM REPORT

 

 

Report Date :

19.12.2014

 

IDENTIFICATION DETAILS

 

Name :

LORD INTERNATIONAL SAE

 

 

Registered Office :

2 Sanan Basha Street, Al Mansheya, Alexandria

 

 

Country :

Egypt

 

 

Date of Incorporation :

21.04.1993

 

 

Com. Reg. No.:

134202

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of razor blades, disposable plastic shavers and related products.

 

 

No of Employees :

1,600

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Egypt

B2

B2

 

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 growth. Poor living conditions combined with limited job opportunities for the average Egyptian contribute 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, pushing up unemployment levels, and economic growth remains slow amid political uncertainty, government transitions, unrest, and cycles of violence. Cairo since 2011 has drawn down foreign exchange reserves and depended on foreign assistance, particularly from Gulf countries, to finance imports and energy products and prevent further devaluation of the Egyptian pound, fearing higher inflation from a weaker currency.

 

Source : CIA

SUMMARY

 

Company Name                                    : LORD INTERNATIONAL SAE

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 21st April 1993

Commercial Registration Number           : 134202

Issued Capital                                       : £E 4,000,000

Paid up Capital                                     : £E 4,000,000

Total Workforce                         : 1,600

Activities                                               : Manufacturers of razor blades, disposable plastic shavers and related

                                                              products.

Financial Condition                                : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Hany Mohamed Ali, Assistant Human Resources Manager

COMPANY NAME

 

LORD INTERNATIONAL SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 2 Sanan Basha Street

Area                 : Al Mansheya

 

Town                : Alexandria

Country : Egypt

 

Telephone         : (20-3) 4500180 / 4818277 / 4500156 / 4500269 / 4500245

Facsimile          : (20-3) 4500278

Email                : export@lordshave.com / lord@lordshave.com

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are owned and located in the Central Business Area of Alexandria.

 

Branch Office (s)

 

            Location                                                                                   Description

 

Alexandria Public Free Zone                                                                  Factory premises

PO Box: 764

Amreya

Smouha

Alexandria

 

Al Sabheya Land                                                                                   Warehouse premises

El Nozha

Alexandria

 

 

KEY PRINCIPALS

 

            Name                                                                           Position

 

Lotfi Ali Mohamed Sulaiman                                                      Chairman

 

Ali Ali Mohamed Sulaiman                                                         Director

 

Adel Ali Mohamed Sulaiman                                                      Director

 

Mohamed Hassan                                                                     Administration Manager

 

Amgad Abdel Wahed                                                                Finance Manager

 

Waheed Wasef                                                                          Human Resources Manager

 

Hany Mohamed Ali                                                                    Assistant Human Resources Manager

 

Ahmed Abu Hadid                                                                     Operations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21st April 1993

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 134202

 

Issued Capital              : £E 4,000,000

 

Paid up Capital            : £E 4,000,000

 

Name of Shareholder (s)

 

Lotfi Ali Mohamed Sulaiman

 

Ali Ali Mohamed Sulaiman

 

Adel Ali Mohamed Sulaiman

 

 

AFFILIATED COMPANIES

 

Lord Precision Industries SAE

Private Free Zone

El Nozha

PO Box: 764

Alexandria

Tel: (20-3) 4818277

Fax: (20-3) 4874515

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of razor blades, disposable plastic shavers and related products.

 

Subject is ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 accredited.

 

Import Countries: France, Germany and India

 

International Suppliers:

 

Norma                          Germany

Aldi                              United Kingdom

Tesco                           United Kingdom

Super Barba                  Brazil

Rite Aid                                    United States of America

 

Export Countries: China and South Korea

 

Brand Names: BIG BEN, ASCO, SHARK, RACER, SILVER STAR, CROWN and RAINBOW

 

Operating Trend: Steady

 

Subject has a workforce of approximately 1,600 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/12:               Year Ending 31/12/13:

 

Total Sales                                £E 587,000,000                         £E 600,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Hany Mohamed Ali, Assistant Human Resources Manager

 

 

BANKERS

 

Commercial International Bank

Canal El Mahmoudeya Street

Smouha

Alexandria

HSBC Bank Egypt

Azhar El Saraya Towers

Fawzy Moaz Street

Smouha

Alexandria

Tel: (20-3) 4210003

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.63.31

UK Pound

1

Rs.98.67

Euro

1

Rs.78.10                                 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SHG

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.