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Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
2nd Industrial Area, Zone 4C, Street No.14, 6th of October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Year of Establishment : |
1997 |
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Com. Reg. No.: |
1027 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the production of feed, additives and vitamins for poultry and cattle. |
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No of Employees : |
90 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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 : MULTIVITA ANIMAL NUTRITION SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1997
Commercial Registration Number : 1027, Giza
Issued Capital : £E 10,000,000
Paid up Capital : £E 4,000,000
Total Workforce : 90
Activities : Production of feed, additives and vitamins for poultry and cattle.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MULTIVITA ANIMAL NUTRITION SAE
Location : 2nd Industrial Area, Zone 4C, Street No.14
Town : 6th of October
City
Country : Egypt
Telephone : (20-2) 38338084
Facsimile : (20-2) 38338084
Mobile : (20-10) 1051090
Email : m.v@multivita.net / multivita@link.net / info@multivita.net
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of the 6th of October City.
Name Position
·
Anwar Salah El Din El Abd Chairman
·
Abd El Hamid Abu El Shahat Finance
Manager
·
Abd El Aal Fouad Mohamed Accounts
Manager
·
Ali El Ghardour Technical
Manager
·
Ihab Abu Zeid Factory
Manager
·
Marwa Abd Allah Commercial
Manager
·
Karim
Abd El Aziz Purchasing
Manager
·
Ahmed
Ali Administration
Manager
Date of Establishment : 1997
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 1027, Giza
Tax
Card No. : 209-825-898
Issued Capital : £E 10,000,000
Paid up Capital : £E 4,000,000
·
Anwar Salah El Din El Abd
·
Anwar El Abd
·
Ahmed El Abd
·
Fatma Abd El Gawad Badr
·
Gamal El Din Abd El Aziz Hafez
·
Golnar El Abd
·
Nadine Gamal El Din Hafez
·
Nahed Saad El Ganaieny
·
Sherif Gamal El Din Hafez
Activities: Engaged in the production of
feed, additives and vitamins for poultry and cattle.
Production
Capacity: 400 tonnes per month
Import
Countries: Italy, Germany,
Spain, Belgium and Finland
Brand Names: ADISSECO,
TECHLNA, DANSICO, ZINPRO A.N, FINLAND SYSTAINABLE NUTRATION, DANSICO EILOZO and
AVENTIO ANIMAL NUTRITION
Operating Trend: Steady
Subject has a
workforce of 90 employees.
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 62,150,000 £E 65,000,000
Local sources
consider subject’s financial condition to be Fair.
·
Commercial
International Bank (CIB)
Plot No. 1/1, Giza
6th of October City
Tel: (20-2) 38330620
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject meets its payment obligations in a timely manner and the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 58.57 |
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|
1 |
Rs. 98.87 |
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Euro |
1 |
Rs. 80.05 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.