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Report No. : |
329960 |
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Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARAB COMPANY FOR
PRODUCTION PACKAGING (CASTCO) |
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Registered Office : |
21 Damascus Street, Heliopolis, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
04.06.1996 |
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Com. Reg. No.: |
295892 |
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Legal Form : |
General Partnership |
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Line of Business : |
Subject is
engaged in the production of plastic sheet products, such as stretch film,
shrink film, cling film and related products. |
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No. of Employees : |
30 |
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 |
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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 |
|
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 : ARAB
COMPANY FOR PRODUCTION PACKAGING (CASTCO)
Country of Origin : Egypt
Legal Form :
General Partnership
Registration Date : 4th
June 1996
Commercial
Registration Number : 295892
Partners Capital : £E
2,000,000
Total Workforce :
30
Activities :
Producers of plastic sheet products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ARAB COMPANY FOR
PRODUCTION PACKAGING (CASTCO)
Street : 21 Damascus Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 28606087
Facsimile : (20-2) 28606074
Mobile : (20-100) 7719335
Email : castco2006@yahoo.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Plot
99-101 Factory
premises
2nd Industrial Zone
Badr City
Cairo
Tel: (20-2) 28640810
Fax: (20-2) 28640811
Name Position
·
Mohamed
Ahmed Qassem El Helow Managing
Partner
·
Emad
Ahmed Qassem El Helow Partner
·
Ahmed
Qassem El Helow Partner
·
Khaled
Anwar Office
Manager
·
Osama
Mohamed Finance
Manager
Date of Establishment : 4th
June 1996
Legal Form :
General Partnership
Commercial
Reg. No. : 295892
Partners Capital : £E 2,000,000
·
Mohamed
Ahmed Qassem El Helow
·
Emad
Ahmed Qassem El Helow
·
Ahmed
Qassem El Helow
Activities: Engaged in the production of plastic sheet
products, such as stretch film, shrink film, cling film and related products.
Import
Countries: Europe, Saudi
Arabia and India.
Operating Trend: Steady
Subject has a
workforce of 30 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 13,700,000 £E 14,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
QNB
Bank
Main Branch
Cairo
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
NIT |
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 |
|
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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 |
|
|
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 |
|
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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 |
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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.