MIRA INFORM REPORT

 

 

Report No. :

317473

Report Date :

21.04.2015

 

IDENTIFICATION DETAILS

 

Name :

METAWEH PLASTICS COMPANY

 

 

Registered Office :

30 Sultan Street, Asbet Rostom, Shobra El Khemah, El Qaliobieya

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

01.01.1991

 

 

Com. Reg. No.:

4209

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Engaged in the manufacture of plastic bottles, packaging for detergents, shampoo and cosmetics

 

 

No of Employees :

200

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Egypt

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

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 pursued business climate reforms to attract foreign investment and facilitate growth. Poor living conditions and limited job opportunities for the average Egyptian contribute to public discontent, a major factor leading to the January 2011 revolution that ousted Mubarak. The uncertain political, security, and policy environment since 2011 caused economic growth to slow significantly, hurting tourism, manufacturing, and other sectors and pushing up unemployment. Weak growth and limited foreign exchange earnings have made public finances unsustainable, leaving authorities dependent on expensive borrowing for deficit finance and on Gulf allies to help cover the import bill.

 

Source : CIA

 

SUMMARY

 

Company Name                                    : METAWEH PLASTICS COMPANY

Country of Origin                                   : Egypt

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 1st January 1991

Commercial Registration Number           : 4209

Chamber Member Number                     : 1539

Issued Capital                                       : £E 60,000

Paid up Capital                                     : £E 60,000

Total Workforce                                     : 200

Activities                                               : Manufacturers of plastic bottles, packaging for detergents, shampoo

                                                               and cosmetics

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

Company name

 

METAWEH PLASTICS COMPANY

 

 

company ADDRESS

 

Registered & Physical Address

 

Street               : 30 Sultan Street

Area                 : Asbet Rostom, Shobra El Khemah

 

Town                : El Qaliobieya

Country             : Egypt

 

Telephone         : (20-2) 25934144

Facsimile          : (20-2) 42792444 / 42817441

Mobile              : (20-12) 23190282 (20-10) 04526612

Email                : metaweh_group@yahoo.com

 

Please note that the subject’s correct address is 30 Sultan Street and not 3 Sultan Street.

 

Premises

 

Subject operates from a large suite of offices a manufacturing plant and a warehouse that are owned and located in the Central Business Area of El Qaliobieya.

 

Branch Offices                                                                                    

 

     Location                                                                                          Description

 

·       20 El Gamea El Ahmar                                                                      Shop premises

Attaba

Cairo

Tel: (20-2) 25880334

 

·       18 El Gamea El Ahmar                                                                      Shop premises

Attaba

Cairo

Tel: (20-2) 25934144

 

·       5 Metaweh Street                                                                              Shop premises

El Salam

Cairo

Tel: (20-2) 22792444

Fax: (20-2) 22817441

 

·       1 El Gamea El Ahmar                                                                        Shop premises

Attaba

Cairo

Tel: (20-2) 25905811

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Salah Sobhi Metaweh                                                                       Managing Partner

 

·       Tarek Sobhi Metaweh                                                                        Partner

 

·       Mohsen Sobhi Metaweh                                                                    Partner

 

·       Kamal Sobhi Metaweh                                                                      Partner

 

·       Ashraf Sobhi Metaweh                                                                      Partner

 

·       Ahmed Kamal Sobhi Metaweh                                                           Maintenance Manager

 

·       Ayman Kamal Sobhi Metaweh                                                           Sales Manager                                                 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st January 1991

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 4209

 

Chamber Member No.  : 1539

 

Issued Capital              : £E 60,000

 

Paid up Capital            : £E 60,000

 

Name of Partner (s)                                                Percentage

 

·       Salah Sobhi Metaweh                                               20%

 

·       Tarek Sobhi Metaweh                                                20%

 

·       Mohsen Sobhi Metaweh                                            20%

 

·       Kamal Sobhi Metaweh                                              20%

 

·       Ashraf Sobhi Metaweh                                              20%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of plastic bottles, packaging for detergents, shampoo and cosmetics

 

Import Countries: India, France and China

 

Local Suppliers:

 

  • El Helal & Golden Star Group

 

Export Countries: Saudi Arabia and Sudan

 

Operating Trend: Steady

 

Subject has a workforce of approximately 200 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/13:              Year Ending 31/12/14:

 

Total Sales                                £E 80,000,000                           £E 83,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       QNB Al Ahli Bank

5 Samir Mokhtar Street

Ard El Golf

Heliopolis 19700

 

·       Commercial International Bank

Abdel Hamid Badwy Street

Heliopolis

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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. 62.56

UK Pound

1

Rs. 93.56

Euro

1

Rs. 67.49

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

DPT

 

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

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.