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Report Date : |
26.03.2014 |
IDENTIFICATION DETAILS
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Name : |
KAMA FOR PAINTING AND METAL PROCESSING |
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Registered Office : |
Obour City, Cairo |
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Country : |
Egypt |
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Year of Establishments: |
2003 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
processing of metal paint, pre paints and metals. |
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No. of Employees |
550 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – 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 |
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Moderate |
B1 |
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High |
B2 |
|
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.
|
Source : CIA |
Company Name : KAMA FOR PAINTING AND METAL PROCESSING
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2003
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Total Workforce : 550
Activities : Processing of metal paint, pre paints and metals
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Hassan Zenhom, Factory Manager
KAMA FOR PAINTING
AND METAL PROCESSING
Registered &
Physical Address
Location : Obour City
Town : Cairo
Country : Egypt
Telephone : (20-2) 46100107
Facsimile : (20-2) 46100107
Mobile : (20-122) 3416352
Email : h.zenhom@kandil.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Industrial
Area of Cairo.
Branch Offices
Location Description
·
Industrial
Zone Factory
premises
Plot No. 4A & 5A
Sharkeya
10th of Ramadan City
Tel: (20-15) 412730 / 410770
Fax: (20-15) 410770
Name Position
·
Amer
Mohiddine Kandil Managing
Partner
·
Hassan Zenhom Factory
Manager
·
Amer
Deba Financial
Manager
Date of Establishment : 2003
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Name of Partner (s)
·
Amer
Mohiddine Kandil
·
Members
of Mr Amer Mohiddine Kandil’s family
·
Galva
Metal
Obour City
Cairo
Tel: (20-2) 4610010
Fax: (20-2) 46100107
·
Kama
Metal Manufacturing
Obour City
Cairo
Tel: (20-2) 4610010
Fax: (20-2) 46100107
Activities: Engaged in the processing of metal paint,
pre paints and metals.
Import
Countries: Europe and the
Far East
Subject has a
workforce of approximately 550 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.
·
Banque
du Caire Barclays Internationale SAE
12 Midan El Sheikh Youssef Street
Garden City
PO Box: 110, Maglis El Shaab
Cairo
Tel: (20-2) 33542195 / 33549415 / 33549422
Fax: (20-2) 33552746
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.60.49 |
|
|
1 |
Rs.99.77 |
|
Euro |
1 |
Rs.83.67 |
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 |
|
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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 |
|
|
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 |
|
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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 |
|
|
<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.