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Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
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Name : |
DR KAISSY
ENGINEERING & PLASTIC INDUSTRIES |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1986 |
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Com. Reg. No.: |
1865, |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Manufacturers of
industrial chilled units, household plastic products and pens |
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No. of Employees |
75 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Egypt |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 : DR KAISSY ENGINEERING & PLASTIC INDUSTRIES
You Requested : DR KAISSY
ENGINEERING INDUSTRIES
Company Name : DR KAISSY ENGINEERING & PLASTIC INDUSTRIES
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 1986
Commercial
Registration Number : 1865,
Cairo
Tax Card Number : 205-074-790
Issued Capital : £E
1,000,000
Paid up Capital : £E
1,000,000
Total Workforce : 75
Activities :
Manufacturers of industrial chilled units, household plastic products and
pens
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed El
Helu, Financial Manager
DR KAISSY
ENGINEERING & PLASTIC INDUSTRIES
Registered & Physical Address
Street : 84 Abbass Al Akkad Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22752867 / 22752627
Facsimile : (20-2) 22752627
Email : drkaissy@gmail.com
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Offices Description
Industrial Zone Factory premises
Plot No. 4 Block
13017
El Obour City
Tel: (20-100)
1452004
Name Position
Mohamed Medhat
Munir El Kaissy Managing
Partner
Hani Mohamed Medhat
Munir El Kaissy Partner
Mohamed El Helu Financial
Manager
Date of
Establishment : 1986
Legal Form : Limited Liability Partnership
Commercial Reg. No. : 1865, Cairo
Tax Card No. :
205-074-790
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Partner (s)
Mohamed Medhat
Munir El Kaissy
Hani Mohamed Medhat
Munir El Kaissy
Activities: Engaged in the manufacture of industrial
chilled units, household plastic products and pens.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 75 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 16,860,000 £E 17,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed El Helu, Financial Manager
Societe Arabe
Internationale de Banque
PO Box: 124
Cairo
Tel: (20-2)
33499464 / 33603489
Fax: (20-2)
33603497 / 33603487
No complaints regarding
subject’s payments have been reported.
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.61.10 |
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UK Pound |
1 |
Rs.99.05 |
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Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared by
: |
SDA |
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 |
-- |
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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.