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Report Date : |
27.10.2014 |
IDENTIFICATION DETAILS
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Name : |
EGYPTIAN
INTERNATIONAL FACTORY FOR SPLIT PULSE SAE |
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Registered Office : |
3rd Industrial Zone, Plot No. 616th of October
City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
28.01.2001 |
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Com. Reg. No.: |
3564, Cairo |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Engaged in the importing, sieving, sorting, grinding and
packing of agricultural products, including beans, lentils, kidney beans,
black-eyed peas, chick peas and lupines. |
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No of Employees : |
105 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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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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 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 : EGYPTIAN
INTERNATIONAL FACTORY FOR SPLIT PULSE SAE
Also Known As : EGYPTIAN
INTERNATIONAL FACTORY FOR SPLIT GRINDING &
AGRICULTURAL CROPS
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 28th
January 2001
Commercial
Registration Number : 3564,
Cairo
Tax Card Number :
205-105-432
Authorised Capital : £E 50,000,000
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Total Workforce : 105
Activities :
Importing, sieving, sorting, grinding and packing of agricultural products
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nabil Mohamed
Helwa, Finance Manager
EGYPTIAN
INTERNATIONAL FACTORY FOR SPLIT PULSE SAE
ALSO KNOWN AS: EGYPTIAN INTERNATIONAL
FACTORY FOR SPLIT GRINDING & AGRICULTURAL CROPS
Location : 3rd
Industrial Zone, Plot No. 61
Town : 6th
of October City
Country : Egypt
Telephone : (20-2) 38339400
/ 38339500 / 38339600 / 38339700
Facsimile : (20-2)
38339800
Mobile : (20-100)
2405015 / 152105
Email : hmh@el-rehab.com
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of 6th Of October
City.
Name Position
· Hani Mahrous Hefni Managing
Director
· Mohamed Hani
Mahrous Hefni Director
· Dina Hani Mahrous
Hefni Director
· Yasmeen Hani
Mahrous Hefni Director
· Yara Hani Mahrous
Hefni Director
· Nabil Mohamed
Helwa Finance
Manager
· Gada Mahmoud Administrative
Officer
· Mohamed Atif Commercial
Manager
· Reda Shakour Production
Manager
Date of
Establishment : 28th
January 2001
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 3564, Cairo
Tax Card No. : 205-105-432
Authorised Capital : £E 50,000,000
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
· Hani Mahrous Hefni
· Mohamed Hani
Mahrous Hefni
· Dina Hani Mahrous
Hefni
· Yasmeen Hani
Mahrous Hefni
· Yara Hani Mahrous
Hefni
· El Rehab For
Trading
Plot No. 30/31, 3rd Industrial Zone
6th of
October City
· El Rehab Packaging Storage
Plot 7G, 2nd Industrial Area
6th of
October City
Activities: Engaged in the importing,
sieving, sorting, grinding and packing of agricultural products, including
beans, lentils, kidney beans, black-eyed peas, chick peas and lupines.
Import Countries: Europe,
Canada and GCC countries
International
Suppliers:
·
Walker Seed Canada
·
Whery Sons United
Kingdom
·
Soufflet France
Brand Names: EL
REHAB
Operating Trend: Steady
Subject has a workforce of 105 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
369,500,000 £E
382,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Nabil Mohamed Helwa, Finance
Manager
·
Misr International Bank (MIBANK)
14 Alfy Street
PO Box: 631
Cairo
Tel: (20-2) 25931002
Fax: (20-2) 25912306
·
BNP Paribas
3 Tawfik Diab
Street
Cairo
Regular
Credit amount 500,450
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Canadian
Dollars
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.61.24 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
SMN |
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 |
|
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 |
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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 |
|
<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.