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Report No. : |
326241 |
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Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
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Name : |
UNIPAK NILE LTD |
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Registered Office : |
Industrial Zone 5, Plot 49, Street No. 2, Giza, PO Box 46, 6th October
City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
860 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of corrugated packaging for the
agricultural, industrial, fast food and promotional sectors. |
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No. of Employees : |
380 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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.
|
Source
: CIA |
Company Name :
UNIPAK NILE LTD
Country of Origin :
Egypt
Legal Form :
Limited Liability Company
Registration Date :
1996
Commercial Registration Number :
860
Tax Card Number :
209-830-816
Issued Capital :
£E 28,280,000
Paid up Capital :
£E 28,280,000
Total Workforce :
380
Activities :
Manufacture of corrugated packaging
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Maha Chalaby, Human Resources Officer
UNIPAK NILE LTD
Registered &
Physical Address
Location : Industrial
Zone 5, Plot 49, Street No. 2, Giza
PO Box : 46
Town : 6th October
City
Country : Egypt
Telephone : (20-2) 38164041
/ 38164042 / 38164043 / 38164040 / 38164044 / 38164045
Facsimile : (20-2)
38164049 / 38164046
Mobile : (20-114)
4444735
Email : unipaknile@unipaknile.com
/ Patrick.sahyoun@unipaknile.com
Premises
Subject operates from a suite of offices and a factory covering an area
of 15,000 square metres that are owned and located in the Industrial Area of
the 6th October City.
Name Position
Antoine Frem Chairman
Faisal Frem President
Fouad Khalil General
Manager
Medhat Shalby Marketing
Manager
Tedy Zarour Sales
Manager
Rami Dakash Operations
Manager
Sami Sfeir Accounts
Manager
Patrick Sahyoun Finance
Manager
Maha Chalaby Human
Resources Officer
Ralph Chouifati Financial
Controller
Date of Establishment : 1996
Legal Form : Limited Liability
Company
Commercial Reg. No. : 860
Tax Card No. : 209-830-816
Issued Capital : £E 28,280,000
Paid up Capital : £E 28,280,000
Name of
Shareholder (s) Percentage
Industrial Development Co Sal (Indevco) 100%
Beirut
Lebanon
Tel: (961-9) 230130
Napco Group
Saudi Arabia
Activities: Engaged in the manufacture of corrugated packaging for the
agricultural, industrial, fast food and promotional sectors.
Unipak Nile has achieved ISO 9001:2000 International Quality Standard
Management System
Production Capacity: 100 million square metres per annum
Operating Trend: Steady
Subject has a workforce of approximately 380 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
371,684,946 £E
392,054,727
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Maha Chalaby, Human Resources
Officer
HSBC Bank Egypt
Banks Area
6th of October City
Tel: (20-2) 38346600
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Unipak Nile Ltd”
and not “Unipak Nile Indevco Group”.
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.64.09 |
|
|
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.