MIRA INFORM REPORT

 

 

Report No. :

335482

Report Date :

10.08.2015

 

IDENTIFICATION DETAILS

 

Name :

LUNA CO FOR INDUSTRIAL INVESTMENTS SAE

 

 

Registered Office :

72 El Sharikat Street Daher, Ghamra 43 Cairo 11251

 

 

Country :

Egypt

 

 

Date of Incorporation :

1966

 

 

Com. Reg. No.:

140, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Engaged in the production and supply of raw materials for chemicals, pharmaceuticals, and packing applications.

 

 

No. of Employee :

140

 

 

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 – 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

Moderate

 

B1

High

 

B2

Very High

 

C1

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

 

SUMMARY

 

Company Name                                    : LUNA CO FOR INDUSTRIAL INVESTMENTS SAE

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 1966

Commercial Registration Number           : 140, Cairo

Tax Card Number                                  : 212-169-505

Issued Capital                                       : £E 16,825,000

Paid up Capital                                     : £E 16,825,000

Total Workforce                                                : 140

Activities                                               : Production and supply of raw materials for chemicals, pharmaceuticals, and packing       applications.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Sami Aziz, Financial Controller

 

 

 

 

COMPANY NAME

 

LUNA CO FOR INDUSTRIAL INVESTMENTS SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 72 El Sharikat Street

Area                 : Daher, Ghamra

 

PO Box                        : 43

 

Town                : Cairo 11251

Country : Egypt

 

Telephone         : (20-2) 22361501 / 22344117 / 22361502 / 22361503

Facsimile          : (20-2) 22361504 / 22322858

Mobile              : (20-122) 2109950 / (20-18) 2861862

Email                : luna@intouch.com / info@lunapac.com

 

Premises

 

Subject operates from a large suite of offices, a warehouse and a factory that are owned and located in the Suburban Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       4th Industrial Zone, Part 76                                                                 Owned factory premises

Sixth of October City

Tel: (20-2) 38334441 / 38334446

Fax: (20-2) 38334448 / 22397215

 

·       Alexandria                                                                                        Rented sales office

 

·       Mansoura                                                                                         Rented sales office

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr George Amin Youssef                                                                  Chairman

 

·       Dr Magid George Amin Youssef                                                        Director

 

·       Dr Ramez George Amin Youssef                                                       Director

 

·       Rania George Amin Youssef                                                             Director

 

·       Samira Antoine Kheidr                                                                      Director

 

·       Nabil Nassif                                                                                     Accountant

 

·       Safwat Mouwad                                                                                Finance Manager

 

·       Sami Aziz                                                                                         Financial Controller

 

·       Albert Rody                                                                                      Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1966

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 140, Cairo

 

Tax Card No.                : 212-169-505

 

Issued Capital              : £E 16,825,000

 

Paid up Capital            : £E 16,825,000

 

 

Name of Shareholder (s)                                  Percentage

 

·       Dr George Amin Youssef                                          76.02%

 

·       Dr Magid George Amin Youssef                    ]

                                                                        ]

·       Dr Ramez George Amin Youssef                   ]

]           23.98%

·       Rania George Amin Youssef                         ]

]

·       Samira Antoine Kheidr                                  ]          

 

 

AFFILIATED COMPANIES

 

·       Luna Cosmetics Co SAE

     72 El Sharikat Street

     Daher, Ghamra

     PO Box: 2

     Cairo 11251

     Tel: (20-2) 2344117

     Fax: (20-2) 2322858

 

·       Luna Co for Trading and Distribution

     34 Port Said Street

     Ghamra

     Cairo

     Tel: (20-2) 4250775

     Fax: (20-2) 4250772

 

·       Luna Flavour & Fragrance

 

·       Luna for Ice Cream Stick Industry

 

 

OPERATIONS

 

Activities: Engaged in the production and supply of raw materials for chemicals, pharmaceuticals, and packing applications.

 

Subject supplies the pharmaceutical, food, cosmetic, soap, and detergent industries as well as technical industries such as ink, paint, textile, petrochemical, press, and natural gases for raw materials, packing and some machines.

 

Import Countries: Germany, Belgium, Italy, Spain, India, China, Hong Kong, Canada, Australia, United Kingdom and the United Arab Emirates.

 

International Suppliers:

 

·       Givaudan Roure                    France

·       Firmenish                             Switzerland

·       Dragoco                              Germany

·       Fidia Farmaceutici S.p.A       Italy

·       FMC USA                             USA

·       Acs DOBFAR SpA               Italy

 

Export Countries: Jordan, Kuwait, Libya and Iraq.

 

Brand Names: FMC, ELLIS & EVERARD, FOTMABIOS, BORMIOLI ROCCO, RISDON, HUBERT DE BACKER, SCANBECH, ACS DOBFAR, HUASHU PHARMA, SHANDONG MEHEECO, ADANI PHARMACHEM, FYSE, MEGGLE, PHARMALAB, GANSONS, SFSI, CMC, AIR PAC, NOVEON, INALCO, DRAGOCO and LAB MAG.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 140 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 43,600,000                           £E 45,000,000

 

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

 

The above figures were provided by Mr Sami Aziz, Financial Controller

 

 

BANKERS

 

·       Egyptian British Bank SAE

Zamalek Abou El Feda Building

Abou El Feda Street

Zamalek

PO Box: 126D

Cairo

Tel: (20-2) 33404849 / 33408938

Fax: (20-2) 33414010

 

·       Bank of Alexandria

     Main Branch

     Cairo

     Tel: (20-2) 24824056 / 24836073

     Fax: (20-2) 24837468

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject enjoys a good reputation for the quality of its products with nothing detrimental uncovered regarding the manner in which operations are conducted. As such the company is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.81

UK Pound

1

Rs.98.92

Euro

1

Rs.69.66

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

 

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.