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Report No. : |
322210 |
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Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ISIS FOR FOOD PROCESSING CO SAE |
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Registered Office : |
3 Belbis Desert Road, Heliopolis,
Cairo 11511 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
306646 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Processing and packing of foodstuff including organically grown
cereals, rice, vegetables, pasta, honey, jams, dates, spices, herbs, edible oils,
and beverages such as herbal tea, coffee and juice. |
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No. of Employees : |
560 |
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 – 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.
|
Source
: CIA |
Company Name :
ISIS FOR FOOD PROCESSING CO SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1997
Commercial Registration Number :
306646, Sharkeya
Issued Capital :
£E 5,000,000
Paid up Capital :
£E 5,000,000
Total Workforce :
560
Activities :
Processing and packing of foodstuff
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Hany Bahy, Finance Manager
ISIS FOR FOOD PROCESSING CO SAE
Registered &
Physical Address
Street : 3 Belbis Desert Road
Area : Heliopolis
Town : Cairo 11511
Country : Egypt
Telephone : (20-2) 26564123 / 26564124 / 26564125 / 26564126 / 26564140
Facsimile : (20-2) 26564123 / 26566226
Email :
hanybahy@sekam.com / mohamedelbadawy@sekam.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
Ard El Kateiba Processing
plant & warehouse
Belbeis
Sharkeya
Tel: (20-55) 9580114
Fax: (20-55) 9580115 / 9580002
Name Position
Dr Ibrahim Helmy Ahmed Abu El Eish Managing
Director
Helmy Ibrahim Helmy Ahmed Abu El Eish Director
Dr Mamdouh Ibrahim Helmy Ahmed Abu El Eish General Manager
Hany Bahy Finance
Manager
Mohamed El Badawy Export
Manager
Sayed Zaher Administration
Manager
Date of Establishment : 1997
Legal Form : Egyptian Joint Stock Company
Commercial Reg. No. : 306646, Sharkeya
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Name of
Shareholder (s) Percentage
Sekam Holding for Investment 95%
Dr Ibrahim Helmy Ahmed Abu El Eish ]
] 5%
Helmy Ibrahim Helmy Ahmed Abu El Eish ]
Naturetex For Textile Co
3 Belbis Desert Road
Cairo
Tel: (20-2) 26588171
Activities: Processing and packing of foodstuff including organically grown
cereals, rice, vegetables, pasta, honey, jams, dates, spices, herbs, edible
oils, and beverages such as herbal tea, coffee and juice.
Import Countries: Germany, Turkey, Indonesia and
Malaysia.
International
Suppliers:
Glat Filter Germany
Vefrin Turkey
Export Countries: Germany, Netherlands, United Kingdom and Italy.
Operating Trend: Steady
Subject has a workforce of approximately 560 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
208,000,000 £E 220,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Hany Bahy, Finance Manager
National Bank of Egypt
24, Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 35703043
Fax: (20-2) 35703172 / 35072691
National Societe General Bank
Cairo
Tel: (20-2) 27707777
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.63.87 |
|
|
1 |
Rs.98.89 |
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Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
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Analysis Done by
: |
SAN |
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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.