|
Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
DELTA FOR TELECOMMUNICATION & TRADE |
|
|
|
|
Registered Office : |
8, Street No. 78,
1st Floor, Maadi, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Year of Establishments: |
1991 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in the
import, distribution and consultation providers for airport supplies and
traffic control equipment. |
|
|
|
|
No. of Employees |
900 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 : DELTA FOR TELECOMMUNICATION & TRADE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1991
Issued Capital : £E 500,000,000
Paid up Capital : £E 500,000,000
Total Workforce : 900
Activities : Distribution and consultation providers for airport supplies and traffic
control equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
DELTA FOR
TELECOMMUNICATION & TRADE
Registered &
Physical Address
Street : 8, Street No. 78, 1st
Floor
Area : Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 25166777
Facsimile : (20-2) 23780133
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
Delta
Building Office
premises
2 Hashem El Ashkar Street
El Nozha El Gadida, 54 Broz Tito Road
Heliopolis
Tel: (20-2) 26231111 / 26230444 / 26216555
Fax: (20-2) 26216555
·
39
Mohamed Tawfik Diab Street Office
premises
Nasr City
Cairo
·
Shagaret
El Dor Tower Office
premises
El Manshaya El Souflia Street
Heliopolis
·
7
Mahmoud Abo El Ella Street Office
premises
Kafr Abdo
Alexandria
Name Position
·
Dr Ali
Fahmy Tolba Chairman
·
Dr
Osman Zein El Din Vice
Chairman
·
George
Youssef Factory
Manager
·
Nasser
Assal Financial
Manager
·
Mohamed
Sedik Office
Manager
Date of Establishment : 1991
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 500,000,000
Paid up Capital : £E 500,000,000
Name of Shareholder
(s) Percentage
·
Dr Ali
Fahmy Tolba 80%
·
Mohamed
Ali Fahmy Tolba 15%
·
Moustafa
Ali Fahmy Tolba 5%
Activities: Engaged in the import, distribution and
consultation providers for airport supplies and traffic control
equipment.
Import
Countries: Europe and the
Far East
Agencies Held:
·
Arotech
·
Alenia
Marconi Systems
·
Arinc
·
Fernau
Subject has a
workforce of approximately 900 employees.
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.
·
Al
Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 33379363
Fax: (20-2) 33772959
·
Arab African
Bank
5, El Saraya El Kobira Square
PO Box: 60, Magles El Shaab
Cairo
Tel: (20-2) 33545094
Fax: (20-2) 33558493
No complaints
regarding subject’s payments have been reported.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.