MIRA INFORM REPORT

Report No. :	329031
Report Date :	30.06.2015

IDENTIFICATION DETAILS

Name :	AL HUSSEIN INTERNATIONAL CO
Registered Office :	3 Hamada Imam Street, Plot 179, 3rd Industrial Zone, Giza, 6^th of October City
Country :	Egypt
Year of Establishment :	1995
Com. Reg. No.:	47645, Giza
Legal Form :	Limited Liability Partnership
Line of Business :	Subject specialises in paper converting as well as distributing and exporting paper including photocopying and duplex paper
No. of Employee :	200

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 :	Satisfactory
Payment Behaviour :	No complaints
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

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

SUMMARY

Company Name : AL HUSSEIN INTERNATIONAL CO

Country of Origin : Egypt

Legal Form : Limited Liability Partnership

Registration Date : 1995

Commercial Registration Number : 47645, Giza

Issued Capital : £E 10,000,000

Paid up Capital : £E 10,000,000

Total Workforce : 200

Activities : Paper converting and trading.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

AL HUSSEIN INTERNATIONAL CO

ADDRESS

Registered & Physical Address

Street : 3 Hamada Imam Street

Area : Plot 179, 3rd Industrial Zone, Giza

Town : 6^th of October City

Country : Egypt

Telephone : (20-2) 38204371 / 38204372 / 38204373 / 38204374 / 38320371

Facsimile : (20-2) 38204373 / 38320370

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of 6^th of October City.

KEY PRINCIPALS

Name Position

· Mansour Ezzi Managing Partner

· Querish Ezzi Partner

LEGAL FORM & OWNERS

Date of Establishment : 1995

Legal Form : Limited Liability Partnership

Commercial Reg. No. : 47645, Giza

Export Reg. No. : 27342

Import Reg. No. : 5333

Issued Capital : £E 10,000,000

Paid up Capital : £E 10,000,000

Name of Partner (s)

· Mansour Ezzi

· Querish Ezzi

OPERATIONS

Activities: Subject specialises in paper converting as well as distributing and exporting paper including photocopying and duplex paper.

Production Capacity: 3,500 metric tonnes per month

Import Countries: India, Russia and Italy.

Export Countries : Africa and GCC countries.

Operating Trend: Steady

Subject has a workforce of approximately 200 employees.

FINANCIAL DATA

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 26,390,000 £E 26,725,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· National Bank of Abu Dhabi

Nile Tower, 18^th Floor

21, Giza Street

Cairo

Tel: (20-2) 33609724

· Citibank

PO Box: 188

Cairo

Tel: (20-2) 33551877 / 33551874

Fax: (20-2) 33558056

· Egyptian American Bank

4 & 6 Hassan Sabri

Zamalek

PO Box: 1825

Cairo

Tel: (20-2) 33416150

Fax: (20-2) 33420265

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Please note that we were unable to contact the subject directly during our investigation.

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.63.91
UK Pound	1	Rs.100.40
Euro	1	Rs.70.41

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ASH

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%)

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