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Report No. : |
345487 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
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Name : |
EL EZZ FLAT STEEL COMPANY SAE |
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Registered Office : |
10 Shehab Street, Mohandessin, Giza, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
25.07.1998 |
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Com. Reg. No.: |
33296 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject is operates a flat steel and iron product plant |
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No. of Employee : |
1,270 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
Company Name :
EL EZZ FLAT STEEL COMPANY SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
25th July 1998
Commercial Registration Number :
33296
Tax Card Number :
205-045-502
Issued Capital :
US$ 600,000,000
Paid up Capital :
US$ 600,000,000
Total Workforce :
1,270
Activities :
Operators of a flat steel and iron product plant.
Financial Condition :
Good
Payments :
Regular
Operating Trend :
Steady
Person Interviewed :
Ahmed Saad, Assistant Investor Relation Manager
EL EZZ FLAT STEEL
COMPANY SAE
Street : 10 Shehab
Street
Area : Mohandessin,
Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 37622144
/ 37622100 / 37622166 / 37622177 / 33046060
Facsimile : (20-2)
37622188
Mobile : (20-100) 1005910
Email : ir@ezzgroup.com
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
· Special Economic
Free Zone Owned
factory premises
Ein
Sokhna
Suez
Tel:
(20-62) 3250361 / 3250363
Fax:
(20-62) 3250362
· 8 Amr Street Rented
sales office
Mohandessin,
Giza
Cairo
Tel:
(20-2) 33029952 / 33030493 / 33367277
Fax:
(20-2) 33058872
Name Position
· Paul Chekaiban Chairman
· Alaa Abu El Kheir Director
· Mamdouh El Roby Director
· Baher Mehrez Director
· Ahmed Nabil General
Manager
· Azza El Shenawy Finance
Manager
· Ashraf Ibrahim Accounts
Manager
· Kamel Galal Investor
Relation Manager
· Ahmed Saad Assistant
Investor
Relation Manager
Date of Establishment : 25th July 1998
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 33296
Tax Card No. : 205-045-502
Issued Capital : US$ 600,000,000
Paid up Capital : US$ 600,000,000
· Al Ezz Dekheila
Steel 55.00%
Alexandria
· Al Ezz Steel
Rebars 33.82%
· Banque Misr 5.25%
· National Bank of
Egypt 4.08%
· National
Investment Bank 1.85%
Subject is a member of the El Ezz Group of companies,
which has diversified operations covering such sectors as shipping, steel
production and processing, building and construction materials. The group
employs some 2,200 people and has a group turnover of approximately $ 470
million with total investment in plants, equipment and fixed assets exceeding
US$ 600 million. The El Ezz Group of companies includes the following concerns:
· Al Ezz Steel
Rebars Co SAE
15 Shehab Street
Mohandessin,
Giza
Cairo
Tel:
(20-2)
37622144 / 37622166 / 37622177
Fax:
(20-2)
37622188
· Al Ezz Porcelain
Company Sae (Gemma)
8 El Sad El Aaly
Street
Fini Square
Dokki, Giza
Cairo
Tel: (20-2)
33600150 / 33365325 / 33365791
Fax: (20-2)
33365337 / 33600155
· El Ezz Shipping
Lines Ltd
8 El Sad El Aaly
Street
Dokki
Cairo
Tel: (20-2) 33600150
Fax: (20-2)
33300155
· El Ezz Foreign
Trade
8 El Sad El Aaly
Street
Fini Square
Dokki, Giza
Cairo
Tel: (20-2)
33600150
Fax: (20-2)
33300155
· El Ezz Reinforced
Steel Industries
8 El Sad El Aaly
Street
Dokki
Cairo
Tel: (20-2)
33600150
Fax: (20-2) 33300155
· El Ezz Heavy
Industries SAE (EHI)
8 El Sad El Aaly
Street
Dokki, Giza
Cairo
Tel: (20-2)
33365346 / 33600150 / 33369232
Fax: (20-2)
33600155
Activities: Subject operates a flat steel and iron product plant.
The plant began commercial production in October 2002 and has an
innovative design of one continuous process from steel melt to rolled flat
sheets, ultimately yielding a capacity 1.2 million tonnes per annum.
The plant was built by Danieli & Co of Italy and includes a thin
slab caster, allowing it to produce very thin gauges of steel sheets, going
down to a minimum thickness of just 0.8 mm.
The company provides flat steel to Egypt’s growing automotive and
consumer goods industries with a large portion, approximately 60%, being exported
to international customers.
Production Capacity: 1,200,000 tonnes per
annum of flat steel
Import Countries: Algeria, Libya, Ukraine, United Kingdom and the
United States of America
Export Countries: Europe, India, China, Sri Lanka and Bangladesh
Operating Trend: Steady
Subject has a workforce of approximately 1,270 employees.
Financial highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales US$
714,650,000 US$
717,200,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel: (20-2) 33912711
/ 33912106
Fax: (20-2)
33919779
·
National Bank of Egypt
24 Sherif Street
Cairo
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
Regular
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.65.15 |
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|
1 |
Rs.100.54 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
-- |
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.