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Report Date : |
15.07.2014 |
IDENTIFICATION DETAILS
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Name : |
EL DAR EL BEIDA FOR CARTON PRODUCTION CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
135089, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the manufacture of cardboard and corrugated
paper. |
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No. of Employees : |
220 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Egypt |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
Company Name :
EL DAR EL BEIDA FOR CARTON PRODUCTION CO
Also Known As :
DAR EL BEIDA FOR CARDBOARD INDUSTRY
Country of Origin :
Egypt
Legal Form :
Sole Proprietorship
Registration Date :
1995
Commercial Registration Number :
135089, Alexandria
Tax Card Number :
329-594-478
Invested Capital :
£E 100,000
Total Workforce :
220
Activities :
Manufacturers of cardboard and corrugated paper.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Hassan Abd El Hamid Radwan, Assistant General Manager
EL DAR EL BEIDA
FOR CARTON PRODUCTION CO
ALSO KNOWN AS: DAR EL BEIDA FOR
CARDBOARD INDUSTRY
Registered &
Physical Address
Street : 7 El Set El
Masreya Street
Area : El Gomrok,
El Manshia
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4893702
Facsimile : (20-3) 4809864
Mobile : (20-122)
2183415 / (20-106) 6000400
Email : mohamedradwan7@yahoo.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Alexandria.
Branch Office (s)
Location Description
Borg El Arab Industrial City Factory
premises
3rd Industrial Zone, Plot 2/6, Block No. 15
Alexandria
Tel: (20-3) 4592778
Fax: (20-3) 4592778
Name Position
Hassan Abd El Hamid Radwan Proprietor
& General Manager
Mohamed Hassan Abd El Hamid Radwan Assistant
General Manager
Khaled Ali Mohamed Finance
Manager
Azab Mahmoud Azab Factory
Manager
Date of Establishment : 1995
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 135089, Alexandria
Tax Card No. : 329-594-478
Invested Capital : £E 100,000
Mr Hassan Abd El Hamid Radwan is the sole proprietor of the business.
Printing House Co
Borg El Arab, 3rd Industrial Zone
Block No 15, Plot No 3
Alexandria
Activities: Engaged in the
manufacture of cardboard and corrugated paper.
Import Countries: Austria
International
Suppliers:
Roxel Austria
Mayer Milinhof Austria
Heinzal Austria
Operating Trend: Steady
Subject has a workforce of approximately 220 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales £E
16,225,000 £E
17,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Bank of Alexandria
19 Salah Salem Street
El Gomrok, El Manshia
Alexandria
Tel: (20-3) 4827995
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.01 |
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1 |
Rs.102.72 |
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Euro |
1 |
Rs.81.60 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NNA |
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 |
-- |
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.