|
Report No. : |
354969 |
|
Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCIB
CHEMICALS SAE |
|
|
|
|
Registered Office : |
4th
Industrial Area, Part 1/3/B, Plot No. 49, Giza, PO Box 51,
Sixth of October City |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
1980 |
|
|
|
|
Com. Reg. No.: |
1025 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in the manufacture of chemicals for use in the paint, concrete
and adhesive industries. |
|
|
|
|
No. of Employees : |
300 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
Company Name :
SCIB CHEMICALS SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1980
Commercial Registration Number :
1025, Giza
Industrial
Registration Number : 26215
Authorised Capital : £E 50,000,000
Issued Capital :
£E 18,000,000
Paid up Capital :
£E 18,000,000
Total Workforce :
300
Activities :
Manufacture of chemicals for use in the paint, concrete and adhesive
industries.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Afifi, Finance Manager
SCIB
CHEMICALS SAE
Registered &
Physical Address
Location : 4th Industrial Area, Part 1/3/B, Plot
No. 49, Giza
PO Box : 51
Town : Sixth of
October City
Country : Egypt
Telephone : (20-2) 38281090 / 38281099 / 38281092 /
38281020 / 38331273
Facsimile : (20-2) 38331271 / 38331275
Mobile : (20-100) 6618148
Email : contact@scibpaints.com
/ ashish.modak@scibpaints.com / Mohamed.afifi@scibpaints.com
Premises
Subject operates from a large suite of offices and a factory that are owned
and located in the Industrial Area of the Sixth of October City.
Branch Office (s)
Location Description
48
Mohamed Mazher Office
premises
El
Zamalek
Cairo
Tel: (20-2) 27350112 / 27363695
4 Nashat
Mosque Street Office
premises
El
Zamalek
Cairo
Tel: (20-2) 27361973 / 27355838
39 El Gezira El Wasta Street Office premises
Zamalek
Cairo
Tel: (20-2) 27355838
Fax: (20-2) 27350104
17 Bahgat Ali Street Showroom
premises
Zamalek
Cairo
Tel: (20-2) 27353898
Fax: (20-2) 27352794
8 El Kenissa El Engliyaa Showroom
premises
Ramleh
Alexandria
Tel: (20-3) 5465716
Fax: (20-3) 5465716
14th May Bridge Office
premises
Alexandria
Tel: (20-3) 4293425
59 Mahmoud Heikl Street Office
premises
Mansoura
Tel: (20-50) 2301988
Cairo Alexandria Agricultural Road Office
premises
Qaliubiya
Tel: (20-4) 2148460
39 Elgezira Elwusta Street Office
premises
Zamalek
Cairo
Tel: (20-2) 27355838
Name Position
Manish Mahara Chairman
Khalil Hafez Director
Fady Micheal Qiama Director
Pangualury Mohan Murly Director
Ali Moustafa Moussa Director
Dr Khalil Hafez Hassan Khalil Director
A S Sundare Director
Saleh Barsoum Abd El Aziz Director
Badr
Sednaoui General
Manager
Mohamed Afifi Finance
Manager
Anjoom Parves Production
Manager
Nagui Iskander IT
Manager
Ashish Modak Accountant
Date of Establishment : 1980
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 1025, Giza
Industrial Reg. No. : 26215
Authorised Capital : £E 50,000,000
Issued Capital : £E 18,000,000
Paid up Capital : £E 18,000,000
Name of
Shareholder (s) Percentage
Asian
Paints 60%
India
Orascom Construction Industries 15%
Manish Mahara ]
]
Khalil Hafez ]
]
Fady Micheal Qiama
]
Pangualury Mohan Murly ]
25%
Ali Moustafa Moussa ]
]
Dr Khalil Hafez Hassan Khalil ]
]
A S Sundare ]
]
Saleh Barsoum Abd El Aziz ]
Activities: Engaged in the manufacture of chemicals for use in the paint, concrete
and adhesive industries.
Subject also acts as building finishing contractors.
Import Countries: Belgium, Germany, Austria, Denmark, Finland and
Japan.
Export Countries: Kuwait, Libya, Algeria, Netherlands and the United
Arab Emirates.
Agencies Held:
Tricosal
FEB
Green Streak
Zolpan
Martin Senor
Tikkurila
V33
Tilecare
Artilin
MBT
Brand Names: SCIB
Operating Trend: Steady
Subject has a workforce of approximately 300 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/03/14: Year Ending
31/03/15:
Total Sales £E
540,000,000 £E 543,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Mohamed Afifi, Finance Manager
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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.98.70 |
|
Euro |
1 |
Rs.72.33 |
|
EGP |
1 |
Rs.8.46 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TPT |
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.