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Report No. : |
356215 |
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Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
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Name : |
GALAXY CHEMICALS
(EGYPT) SAE |
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Registered Office : |
Plot No. 9, Block M, Public Free Zone, Attaka Suez 43527 |
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Country : |
Egypt |
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Date of Incorporation : |
14.07.2009 |
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Com. Reg. No.: |
4840 |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Engaged in the manufacture
of personal hygiene and cosmetic products, including shampoo and toothpaste. |
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No. of Employee : |
170 |
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 |
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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 |
Company Name : GALAXY CHEMICALS
(EGYPT) SAE
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 14th
July 2009
Commercial
Registration Number : 4840
Authorised Capital : US$
140,000,000
Issued Capital : US$
20,000,000
Paid up Capital : US$
20,000,000
Total Workforce :
170
Activities :
Manufacturers of personal hygiene and cosmetic products
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
GALAXY CHEMICALS (EGYPT)
SAE
Location : Plot No. 9, Block M, Public Free
Zone, Attaka
Town : Suez 43527
Country : Egypt
Telephone : (20-62) 3230321 / 3391906
Facsimile : (20-62) 3230319
Email : info@galaxysurfactants.com
Subject operates
from a large suite of offices and a factory that are owned and located in the
Free Zone Area of Suez.
Name Position
·
Oaudai Kryshna Kamat Chairman
·
Ijanath Shakharem Kulkarni Managing
Director
·
Shashyahkant Riaba Shanbag Director
·
Somet Dinseh Madwikar Director
·
Abhigit Sobhag Damly Director
·
Manikin Kaso Director
·
Mahish Nishkant Malkar Director
·
Rag Kishor Sing Director
·
Bassem
El Shamandy Ali Ibrahim Human
Resources Manager
·
Ahmed
Samr Accountant
·
Somet Dinseh Madwikar Finance
Manager
Date of Establishment : 14th
July 2009
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 4840
Authorised
Capital : US$ 140,000,000
Issued Capital : US$ 20,000,000
Paid up Capital : US$ 20,000,000
·
Galaxy
Surfactants 90%
India
·
Oaudai Kryshna Kamat 10%
·
Tri K
Company
Activities: Engaged in the manufacture of personal
hygiene and cosmetic products, including shampoo and
toothpaste.
Production Capacity: 64,000 tons per year.
Import
Countries: Germany, France
and Italy.
Clients:
·
Henkel
·
Unilever
·
L’Oreal
·
New Awa
Chemical
·
Adco
Egypt
Export
Countries: Saudi Arabia,
Bahrain, Jordan, France, Turkey, Spain, Portugal and Russia.
Operating Trend: Steady
Subject has a
workforce of 170 employees.
Financial highlights
provided by local sources are given below:
Currency: United
States Dollars (US$)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales US$ 71,200,000 US$ 75,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
QNB Al
Ahli
5 El Galaa Street
Suez
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.66.30 |
|
|
1 |
Rs.98.71 |
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Euro |
1 |
Rs.72.33 |
|
UAE Dh |
1 |
Rs.18.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared
by : |
ANK |
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 |
-- |
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.