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Report No. : |
333487 |
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Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL COMPANY
FOR INDUSTRIALIZATION (HNS GROUP MIDDLE EAST LTD) |
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Registered Office : |
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Country : |
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Date of Incorporation : |
08.02.2006 |
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Com. Reg. No.: |
752 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Engaged in the manufacture
of plastic packaging used in the medical field, the subject produces trays
and related products for items such as ampules and related items. |
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No. of Employee : |
50 |
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) |
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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 |
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.
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Source
: CIA |
Company Name :
NATIONAL COMPANY FOR INDUSTRIALIZATION (HNS GROUP MIDDLE EAST LTD)
Country of Origin : Egypt
Legal Form :
Limited Liability Company
Registration Date : 8th
February 2006
Commercial
Registration Number : 752
Issued Capital : £E
1,000,000
Paid up Capital : £E
1,000,000
Total Workforce : 50
Activities :
Manufacturers of plastic packaging.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Islam Mawad,
Customer Service Manager
NATIONAL COMPANY
FOR INDUSTRIALIZATION (HNS GROUP MIDDLE EAST LTD)
Street : El Nasr Street
Area : 3rd Industrial
Zone A1, Sharkeya
Town : 10th of Ramadan
City
Country : Egypt
Telephone : (20-15) 410285
Facsimile : (20-15) 410286
Mobile : (20-122) 0084122 / 0084144
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of 10th of Ramadan City.
Name Position
·
Hussein
Noaman Tifarky Chairman
·
Salah
Eldeen Hussein Tifarky Director
·
Ibrahim
Magdy Director
·
Islam
Mawad Customer
Service Manager
·
Ashraf
Ramzy Finance
Manager
Date of Establishment : 8th
February 2006
Legal Form :
Limited Liability Company
Commercial Reg. No. : 752
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
·
Hussein
Noaman Tifarky
·
Salah Eldeen
Hussein Tifarky
·
Ibrahim
Magdy
Activities: Engaged in the manufacture of plastic
packaging used in the medical field, the subject produces trays and
related products for items
such as ampules and related items.
Import
Countries: Germany, United
Kingdom, India and China.
Export
Countries: Saudi Arabia and
Yemen.
Operating Trend: Steady
Subject has a
workforce of 50 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 11,700,000 £E 12,520,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Alexandria
Bank
10th of Ramadan City
·
National
Bank of Egypt
Sharkeya Branch
10th of Ramadan City
Tel: (20-15) 360833 / 360744 / 344144
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.63.89 |
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|
1 |
Rs.99.71 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.