MIRA INFORM REPORT

 

 

Report No. :

321922

Report Date :

15.05.2015

 

IDENTIFICATION DETAILS

 

Name :

KAFR EL ZAYAT PESTICIDES AND CHEMICALS CO SAE (KZPC)

 

 

Registered Office :

61 El Hussein Street, Dokki, Giza, Cairo

 

 

Country :

Egypt

 

 

Date of Incorporation :

1st January 1955

 

 

Com. Reg. No.:

49640, Gharbeya

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Production and marketing of chemicals

 

 

No. of Employees :

580

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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.

 

Source : CIA

SUMMARY

 

Company Name                                    : KAFR EL ZAYAT PESTICIDES AND CHEMICALS CO SAE (KZPC)

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 1st January 1955

Commercial Registration Number           : 49640, Gharbeya

Authorised Capital                                 : £E 200,000,000

Issued Capital                                       : £E   80,030,000

Paid up Capital                                     : £E   80,030,000

Total Workforce                         : 580

Activities                                               : Production and marketing of chemicals.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

COMPANY NAME

 

KAFR EL ZAYAT PESTICIDES AND CHEMICALS CO SAE (KZPC)

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 61 El Hussein Street

Area                 : Dokki, Giza

 

Town                : Cairo

Country : Egypt

 

Telephone         : (20-2) 37614362

Facsimile          : (20-2) 37614362

Email                : info@kz-chemicals.com / sales@kz-chemicals.com

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Cairo.

 

Branch Office (s)

 

            Location                                                                                               Description

 

El Sharekat Street                                                                                              Factory premises

Kafr El Zayat

Gharbeya

Tel: (20-40) 2542444 / 2542761 / 2548253

Fax: (20-40) 3305631 / 2557403

 

21 Ahmed Kamha Street                                                                                    Office premises

Alexandria

Tel: (20-3) 5934020

 

1st Industrial Zone                                                                                              Factory premises

Alexandria Desert Road, Km 79

Beheira

Tel: (20-45) 2634475

Fax: (20-45) 2634475

 

KEY PRINCIPALS

 

            Name                                                                                       Position

 

Essam Albert El Dabaa                                                                         Chairman

 

Nadine Albert George El Dabaa                                                             Vice Chairman

 

Hashem Desouky                                                                                  Director

 

Ahmed Abo El Ezz                                                                                Director

 

Ahmed Aldhargami                                                                                Director

 

Hisham Kandil                                                                                       Director

 

Dalia Iskander                                                                                       Director

 

Ramzi Estenio                                                                                       Director

 

Ashraf Shenouda                                                                                  Director

 

Moawad Hassanein                                                                               Director

 

Hamada Abd El Latif Hassan Ebada                                                      Sales Manager

 

Mohamed Ahmed Abd El Samad Gohar                                                 Public Relations Manager

 

Ibrahim El Naggar                                                                                  Quality Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st January 1955

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 49640, Gharbeya

 

Authorised Capital       : £E 200,000,000

 

Issued Capital              : £E   80,030,000

 

Paid up Capital            : £E   80,030,000

 

Name of Shareholder (s)                                                                                 Percentage

 

Nadine Albert George El Dabaa                                                                         19.69%

 

Banque Misr                                                                                                      15.61%

 

Essam Albert El Dabaa                                                                                     15.43%

 

Kareem Albert El Dabaa                                                                                    10.00%

 

Egyptian Global Investment Fund                                                                         8.60%

 

Union Workers Shareholders                                                                                5.02%

 

Alexandria Egypt Fund for Financial Investments                                                            3.24%

 

Social Insurance Fund for Governmental Sector Employee’s                   ]

 

Social Insurance Fund for Public and Private Sector Employee’s              ]          22.41%

 

Local businessmen and private investors                                                            ]

 

 

AFFILIATED COMPANIES

 

            Name                                                                                                        Percentage Held

 

Kafr El Zayat International Pesticides and Chemicals Company                                       100.00%

 

Kimi                                                                                                                                97.50%

 

Organic Biotechnology Company                                                                                     75.00%

 

 

OPERATIONS

 

Activities: Engaged in the production and marketing of chemicals for agricultural and hygiene purposes. The product range includes: agricultural pesticides, insecticides, fungicides, herbicides, rodenticides, fertilisers,          household and hygienic cleaning detergents.

 

Subject is ISO 9001 & ISO 14001 accredited.

 

Production Capacity: 60,000 tonnes per annum

 

Import Countries: United Kingdom, France, Italy, United States of America, India, Hong Kong, and Japan.

 

International Suppliers:

 

Sumitomo         Japan

Zenica              United Kingdom

Agrivo              France

Rohm & Hass    Italy

Rotam              Hong Kong

Fikom               India

Drexel               United States of America

 

Export Countries: Saudi Arabia, United Arab Emirates, Jordan, Iraq, Yemen, Sudan, Libya, Zimbabwe, Uganda,

                              Ethiopia, Cyprus, Greece and Macedonia.

 

Brand Names: KZ

 

Operating Trend: Steady

 

Subject has a workforce of approximately 580 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                            Year Ending 31/12/14:

 

Total Sales                                            £E 30,716,391

 

Total Assets                                          £E 328,408,226

 

Total Liabilities                                      £E 141,857,239

 

Total Equity                                          £E 186,550,987

 

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

 

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

 

 

BANKERS

 

Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

National Bank of Egypt

Abdel Hai Khalil Street

El Mahala El Kobra

Gharbeya

Tel: (20-40) 22230565 / 22245127

Fax: (20-40) 22234065

 

Bank of Alexandria

Main Branch

Cairo

Tel: (20-2) 24824056 / 24836073

Fax: (20-2) 24837468

 

Commercial International Bank (CIB)

Nile Tower Building

21-23 Giza Street

PO Box: 2430

Cairo

Tel: (20-2) 25703043

Fax: (20-2) 25703172 / 25072691

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Kafr El Zayat Pesticides And Chemicals Co SAE (KZPC) is a leading concern in the production of chemicals in Egypt. It specialises in the agro and hygiene chemicals, such as pesticides, insecticides, fungicides, herbicides, rodenticides, and fertilisers.

 

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.63.84

UK Pound

1

Rs.100.65

Euro

1

Rs.72.88

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SHG

 

               

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.