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Report No. : |
332071 |
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Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
DELTA
SPECIALITIES SAE |
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|
|
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Registered Office : |
Building 22A, 4th Floor, Suite No. 9 10th District, Al Motamayez 6th of October City |
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Country : |
Egypt |
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Date of Incorporation : |
2003 |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Subject is
engaged in the manufacture of driers, defoamers and speciality additives. |
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No. of Employee : |
75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
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 |
|
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 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. Egypt's current Constitution passed in a referendum that took place in January 2014.
|
Source
: CIA |
Company Name : DELTA
SPECIALITIES SAE
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 2003
Issued Capital : £E
500,000
Paid up Capital : £E
500,000
Total Workforce :
75
Activities :
Manufacturers of driers, defoamers and speciality additives
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Refaat, Finance
Manager
DELTA SPECIALITIES
SAE
Building : Building 22A, 4th
Floor, Suite No. 9
Area : 10th District, Al
Motamayez
Town : 6th of October City
Country : Egypt
Telephone : (20-2) 38301707 / 33038115 / 33465461
Facsimile : (20-2) 33031181
Mobile : (20-106) 6693249 / (20-100)
1497149
Email : info@deltaspwll.com /
md@deltaspwll.com
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of 6th of October City.
Branch Office
(s)
Location Description
·
9 Adnan
Al Madani Street Office
premises
El Sahafeene
Mohandessin
Cairo
·
Swiss
Compound Factory
premises
4th Industrial Zone
6th of October City
Name Position
·
Dr Tark Mostafa Managing
Director
·
Dr Ahmed Mostafa Director
·
Islam Mostafa Director
·
Ahmed Refaat Finance
Manager
Date of Establishment : 2003
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
·
Dr Tark Mostafa
·
Dr Ahmed Mostafa
·
Islam Mostafa
Activities: Engaged in the manufacture of driers,
defoamers and speciality additives.
Subject is ISO 9001-2008 accredited.
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 31/12/13: Year Ending
31/12/14:
Total Revenue £E 14,150,000 £E 14,375,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Export
Development Bank of Egypt
Plot 3/1
4th Industrial Region
6th of October City
Tel: (20-2) 38330599
Fax: (20-2) 38330570
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.63.93 |
|
|
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
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|
|
|
Report Prepared
by : |
ANK |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.