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Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
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Name : |
ALEXANDRIA CARBON BLACK CO SAE |
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Registered Office : |
Suez Canal Tower, 26th Floor, Apartment No. 2 4 Ibn Khatir
Street Giza Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
January 1993 |
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Com. Reg. No.: |
134021 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject is engaged in the manufacture of carbon black and carbon based
materials and products |
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No. of Employees : |
350 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Egypt |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 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 |
Company Name : ALEXANDRIA CARBON BLACK CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : January 1993
Commercial Registration Number : 134021
Issued Capital : £E 99,500,000
Paid up Capital : £E 99,500,000
Total Workforce : 350
Activities : Manufacturers of carbon black and carbon based materials and products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ALEXANDRIA CARBON BLACK CO SAE
Building :
Suez Canal Tower, 26th Floor, Apartment No. 2
Street : 4 Ibn Khatir
Street
Area : Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 33373870
/ 33377975 / 33490078
Facsimile : (20-2)
37609174
Email : adm@acbc.com.eg / moustafa.alkamash@adityabirla.com
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
· Nahda Road Owned
factory premises covering an
Amreya area
of 170,000 square metres
Alexandria 23511
Tel: (20-3)
4770102 / 4770107
Fax: (20-3)
4770110
Name Position
· Mohamed Adel Ahmed
El Danaf Chairman
· Ali Hussain Al
Shareef Director
· Adel El Danaf Director
· Ayman Attia General
Manager
· Dalia Abdel Moneim Human
Resources Manager
· Atef El Ashy Research
& Development Manager
· Mousta El Kamash Finance
Manager
· Giresh Abbot Purchasing
Manager
· Mikul Agrawal Technical
Manager
· Khalid Moustafa Export
Manager
· Jasmin Anis Public
Relations Manager
Date of
Establishment : January 1993
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 134021
Issued Capital : £E 99,500,000
Paid up Capital : £E 99,500,000
· Aditya Birla Group 67.53%
Industry House, 1st
Floor
159 Churchgate
Reclamation
Mumbai 400020
India
Tel:
(91-22) 2835382
Fax:
(91-22) 2832020
· SKI Investment 15.50%
Singapore
· Saudi Egyptian for
Industrial Investments 8.00%
Saudi Arabia
· Holding for
Engineering Industries 4.97%
Egypt
· Nasr Coke &
Base Chemicals 4.00%
16 Sherif Street
Cairo
Tel: (20-2)
33924189 / 33921731
Fax: (20-2)
33933790
Activities: Engaged in the manufacture of carbon black and carbon based materials
and products.
Subject’s manufacturing plant went on stream
in 1994 with the technical participation of Continental Carbon Black of the US.
Production capacity was originally 20,000 tonnes which has now increased to
285,000 tonnes.
Subject was awarded the ISO 9002 Certificate
in 1995.
Production Capacity: 200,000 tonnes per annum
Clients:
· Malaya Group of
Companies India
· Goodyear Tyres United States of
America
· Bridgestone Japan
· Pirelli Italy
· Dunlop Tyres United
States of America
Import Countries: United States of America, Saudi Arabia and India
International Suppliers:
· B&A Multiwall
Packaging Ltd India
Export Countries: Subject exports approximately 90 percent of its
total production to over 50 countries around the
world, particularly the United States of America,
the United Kingdom, France, Italy, Spain, Japan, India and Lebanon
Operating Trend: Steady
Subject has a workforce of approximately 350 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
192,000,000 £E
195,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
National Bank of Egypt
24 Sherif Street
Cairo
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 35703043
Fax: (20-2) 35703172 / 35072691
Regular
Credit amount 85,643
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record Regular
Currency Canadian
Dollars
Alexandria Carbon Black Co SAE was established in 1992 and is engaged in
the manufacture of carbon black and carbon based materials and products. It is
the fastest growing carbon black company in the world, exporting its products
to over 50 countries.
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.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
Report Prepared
by : |
NIS |
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 |
|
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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 |
|
|
-- |
NB |
New Business |
-- |
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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.