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Report No. : |
346357 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
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Name : |
EL NASR CASTINGS CO SAE |
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Registered Office : |
El Warrak Road, Imbaba, after ½ Km Tanash,
Embaba, Giza, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
07.01.1981 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject is engaged in the manufacture of flexible iron
casting pipes (valves and decoration lampshade), brake drums for vehicles
from cast iron and flour mills components. |
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No. of Employees : |
1350 |
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) |
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Egypt |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
|
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 NASR CASTINGS CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 7th January 1981
Commercial Registration Number : 52464
Tax Card Number : 200-202-685
Issued Capital : £E 135,000,000
Paid up Capital : £E 135,000,000
Total Workforce : 1,350
Activities : Manufacturers of flexible iron casting pipes, brake drums, for vehicles from cast iron and flour mills components.
Financial Condition : Good
Payments : Regular
Operating Trend : Steady
EL NASR CASTINGS CO SAE
Location : El Warrak Road,
Imbaba, after ½ Km Tanash
Area : Embaba, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 38910044 / 38910091 / 38916581
Facsimile : (20-2) 38910044 / 38910091 / 38910040
Email : info@elnasrcastings.com
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Cairo.
Name Position
·
Sami
Omara Chairman
·
Mohmoud
Fawzy Export
Manager
·
Mohamed
Said Advertising
Manager
·
Abdel
Latif Lofty Finance
Manager
Date of Establishment : 7th
January 1981
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 52464
Tax Card No. : 200-202-685
Issued Capital : £E 135,000,000
Paid up Capital : £E 135,000,000
·
Industries
Holding Company Banking
·
National
Investment Bank
·
Banque
Misr
Activities: Engaged
in the manufacture of flexible iron casting pipes (valves and decoration
lampshade), brake drums
for vehicles from cast iron and flour mills components.
Subject is ISO 9001, 2531 and 9002
accredited.
Import Countries: Europe
and the Far East
International Suppliers:
·
Bacin
·
Hanotox
for Rubber
Clients:
·
The
Arab Contractors
·
Talaat
Moustafa
·
Mokhtar
Ibrahim
·
Nasr
General Contracting Co Sewage
Export Countries:
Europe and GCC countries.
Operating Trend:
Steady
Subject has a workforce of approximately 1,350 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 500,000,000 £E 508,500,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
Audi
Bank
Main Branch
Giza
Cairo
·
Al
Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 33379363
Fax: (20-2) 33772959
·
Export
Development Bank of Egypt
108 Mohi El Din Abu El Ezz Street
Mohandessin
Cairo 11111
Tel: (20-2) 3619005 / 3385877
Fax: (20-2) 3385940 / 3385938
Regular
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
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UK Pound |
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 : |
TRU |
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.