MIRA INFORM REPORT

 

 

Report No. :

322066

Report Date :

15.05.2015

 

IDENTIFICATION DETAILS

 

Name :

MISR EL HEGAZ CO FOR VINYL AND COMPOUND PACKAGING

 

 

Registered Office :

198 El Hegaz Street, Heliopolis, PO Box            5999, Cairo

 

 

Country :

Egypt

 

 

Date of Incorporation :

1995

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Engaged in the manufacture of vinyl products, PVC compound and calcium carbonate.

 

 

No. of Employees :

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 – 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                                    : MISR EL HEGAZ CO FOR VINYL AND COMPOUND PACKAGING

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 1995

Issued Capital                                       : £E 500,000

Paid up Capital                                     : £E 500,000

Total Workforce                         : 200

Activities                                               : Manufacturers of vinyl products, PVC compound and calcium

  carbonate.

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                : Hatim Houssni, Group Purchase Manager

 

 

 

COMPANY NAME

 

MISR EL HEGAZ CO FOR VINYL AND COMPOUND PACKAGING

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 198 El Hegaz Street

Area                 : Heliopolis

PO Box            : 5999

Town                : Cairo

Country : Egypt

Telephone         : (20-2) 21808000 / 26248080 / 26248080 / 26222000

Facsimile          : (20-2) 26200088 / 21808088

Mobile              : (20-100) 2555147

Email                : purchase@misrhegazgroup.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

 

10th of Ramadan City                                                                 Factory premises

 

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Dr Mohamed Helmy Mohamed                                                   Chairman

 

Ahmed Helmy Mohamed                                                            Director

 

Sami Bayoumi                                                                           General Manager

 

Hatim Houssni                                                                           Group Purchase Manager                     

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1995

 

Legal Form                  : Egyptian Joint Stock Company

 

Issued Capital              : £E 500,000

 

Paid up Capital            : £E 500,000

 

Name of Shareholder (s)                                              

 

Dr Mohamed Helmy Mohamed

 

Ahmed Helmy Mohamed

 

Local businessmen and private investors

 

 

AFFILIATED COMPANIES

 

Misr El Hegaz Co SAE

198 El Hegaz Street

Heliopolis

PO Box: 5999

Cairo

Tel: (20-2) 26248080 / 26248080 / 26222000

Fax: (20-2) 26200088

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of vinyl products, PVC compound and calcium carbonate.

 

Subject has a workforce of 200 employees.

 

 

FINANCIAL DATA

 

Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Please note that the correct name of the subject is “Misr El Hegaz Co for Vinyl and Compound Packaging” and not “Misr El Hegaz Co”.

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the company is deemed 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 :

TPT

 

               

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.