MIRA INFORM REPORT

 

 

Report No. :

342514

Report Date :

02.10.2015

 

IDENTIFICATION DETAILS

 

Name :

ROYAL COSMETIC COMPANY SAE

 

 

Registered Office :

Alam El Dien Tower, 3 Mahmoud Sedky & El Maamon Street, El Shark District, PO Box 711, Port Said

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

2002

 

 

Com. Reg. No.:

34772

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Engaged in the manufacture of cleaning agents, including soaps, shampoos, conditioners and ceramic bathroom cleaning products.

 

 

No. of Employees :

800

 

 

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

 

 

SUMMARY

 

Company Name                                    : ROYAL COSMETIC COMPANY SAE

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 2002

Commercial Registration Number           : 34772, Port Said

Issued Capital                                       : £E 70,000,000

Paid up Capital                                     : £E 70,000,000

Total Workforce                                     : 800

Activities                                               : Manufacturers of cleaning agents

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Zein El Abden, Accounts Manager

 

 

 

COMPANY NAME

 

ROYAL COSMETIC COMPANY SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Alam El Dien Tower

Street               : 3 Mahmoud Sedky & El Maamon Street

Area                 : El Shark District

PO Box            : 711

Town                : Port Said

Country             : Egypt

Telephone         : (20-66) 3320662 / 3241540 / 3245520

Facsimile          : (20-66) 3241530

Mobile              : (20-122) 4991785 / 3913860

Email                : rc@royal-cosmetic.com

 

Premises

 

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

 

Branch Office (s)

 

Location                                                                                               Description

 

Industrial Zone, Km 5, South Port Said                                                   Factory premises

Port Said

Tel: (20-66) 3770077 / 3770133 / 3770132 / 3770075 / 3770073

Fax: (20-66) 3770099

Email: kfawaz@royal-cosmetic.com

 

 

KEY PRINCIPALS

 

Name                                                                                                   Position

 

Mahmoud Mohamed Hassanein Alam El Din                                           Chairman

 

Ahmed Fouad Mohamed Alam El Din                                                     Director

 

Abd El Moneim Mohamed Alam El Din                                                   Director

 

Hamdy Mohamed Alam El Din                                                               Director

 

Gamal Mohamed Alam El Din                                                                Director

 

Mohamed Abd El Moneim Mohamed Alam El Din                                   Director

 

Magdy Hasheish                                                                                   Director

 

Ahmed Auf Hamada                                                                              Director

 

Ahmed El Katatny                                                                                 Finance Manager

 

Fathi Hassan                                                                                         Factory Manager

 

Khaled El Morshedy                                                                              Marketing Manager

 

Zein El Abden                                                                                       Accounts Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2002

 

Legal Form      : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 34772, Port Said

 

Issued Capital              : £E 70,000,000

 

Paid up Capital            : £E 70,000,000

 

Name of Shareholder (s)                                                        Percentage

 

Mahmoud Mohamed Hassanein Alam El Din                               16.67%

 

Ahmed Fouad Mohamed Alam El Din                                         16.67%

 

Abd El Moneim Mohamed Alam El Din                                       16.67%

 

Hamdy Mohamed Alam El Din                                                   16.67%  

 

Gamal Mohamed Alam El Din                                                    16.66%

 

Mohamed Abd El Moneim Mohamed Alam El Din                       16.66%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of cleaning agents, including soaps, shampoos, conditioners and ceramic bathroom cleaning products.

 

Production Capacity: 40,000 tons per year.

 

Import Countries: Germany, United Kingdom, China, Switzerland, Italy and the United Arab Emirates

 

Export Countries: Iraq, Morocco, Yemen, Libya, Saudi Arabia, Kenya, Lebanon, Tunisia, Nigeria and Algeria

 

Operating Trend: Steady

 

Subject has a workforce of approximately 800 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 158,341,000                         £E 160,684,000

 

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

 

The above figures were provided by Mr Zein El Abden, Accounts Manager

 

 

BANKERS

 

Bank of Alexandria

6 Salah Salem Street

Alexandria

Tel: (20-3) 4824056

 

Commercial International Bank (CIB)

El Gomhouria Street

Port Said Free Zone

Port Said

Tel: (20-66) 3336801

Fax: (20-66) 3325956

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

GENERAL COMMENTS

 

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.65.55

UK Pound

1

Rs.99.17

Euro

1

Rs.73.08

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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.