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Report No. : |
337346 |
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Report Date : |
28.08.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL CO FOR PRESS SUPPLIES |
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Registered Office : |
73 El Horreya Road, Eastern Gate, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
145605 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the manufacture of printing inks as well as the
distribution of press supplies such as chemicals and dyes. |
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No. of Employees : |
52 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
B2 |
|
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
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 :
INTERNATIONAL CO FOR PRESS SUPPLIES
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
1997
Commercial Registration Number :
145605, Alexandria
Industrial Registration Number :
270940
Authorised Capital :
£E 15,000,000
Issued Capital :
£E 4,718,000
Paid up Capital :
£E 4,718,000
Total Workforce :
52
Activities :
Manufacture of printing inks.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Abdulrahman, Senior Accountant
INTERNATIONAL CO FOR PRESS SUPPLIES
Registered &
Physical Address
Location : 73 El Horreya
Road, Eastern Gate
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4955711
/ 4944586
Facsimile : (20-3) 4941766
Mobile : (20-122)
0666761
Email : ghoneim_a@ymail.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Alexandria.
Branch Office (s)
Location Description
3rd Industrial Zone, Block 16, Plot 8 Owned
factory premises
Borg El Arab El Gedida
Alexandria
Tel: (20-3) 4592423 / 4590930
Fax: (20-3) 4590931
Name Position
Mohamed Adel Abd El Rahman Ghoneim Managing
Partner
Amr Mohamed Adel Abd El Rahman Ghoneim Partner
Aza Mohamed Adel Abd El Rahman Ghoneim Partner
Wafaa Abd El Salam Partner
Ahmed Ramy Finance
Manager
Sayed El Hammamsy Sales
Manager
Ahmed Abu Salama Administration
Manager
Amany Tharwat Purchasing
Manager
Tarek Abu Zahra Maintenance
Manager
Dr Mahmoud El Shenawy Production
Manager
Mohamed Abdulrahman Senior
Accountant
Date of Establishment : 1997
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 145605,
Alexandria
Industrial Reg.
No. : 270940
Authorised Capital : £E 15,000,000
Issued Capital : £E 4,718,000
Paid up Capital : £E 4,718,000
Name of
Shareholder (s) Percentage
Mohamed Adel Abd El Rahman Ghoneim 51%
Amr Mohamed Adel Abd El Rahman Ghoneim 25%
Aza Mohamed Adel Abd El Rahman Ghoneim 15%
Wafaa Abd El Salam 9%
Activities: Engaged in the manufacture of printing inks as well as the distribution
of press supplies such as chemicals and dyes.
Production Capacity: 70 tons per year
Import Countries: Germany, Italy, Finland, Greece and India.
International Suppliers:
Sapici SpA Italy
Brand Names: ATC
Operating Trend: Steady
Subject has a workforce of 52 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 Sales £E
5,109,664 £E
5,348,282
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed Abdulrahman, Senior Accountant
Al Watany Bank of Egypt
601 Horreya Road
Alexandria
Tel: (20-3) 5745621
Fax: (20-3) 5703282
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.66.06 |
|
|
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.74.97 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
TPT |
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.