MIRA INFORM REPORT

 

 

Report No. :

346767  

Report Date :

29.10.2015

 

IDENTIFICATION DETAILS

 

Name :

AL MOUSTAFA FOR INDUSTRIES & DESIGNS

 

 

Registered Office :

9 Adnan El Madany Street, Sahafien, Giza, Cairo 12411

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

1999

 

 

Com. Reg. No.:

5355

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engaged in the manufacture of drier for paints and inks, as well as chemical materials for fruits maturation.

 

 

No. of Employees :

50

 

 

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.

 

 

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. Egypt's current Constitution passed in a referendum that took place in January 2014.

 

Source : CIA

SUMMARY

 

Company Name                                    : AL MOUSTAFA FOR INDUSTRIES & DESIGNS

Also Known As                                     : DELTA SPECIALITIES

Country of Origin                                   : Egypt

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 1999

Commercial Registration Number           : 5355, Cairo

Tax Card Number                                  : 200-774-263

Issued Capital                                       : £E 500,000

Paid up Capital                                     : £E 500,000

Total Workforce                                     : 50

Activities                                               : Manufacturers of chemicals

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Huda El Alfy, Commercial Manager

COMPANY NAME

 

AL MOUSTAFA FOR INDUSTRIES & DESIGNS

 

 

ALSO KNOWN AS

 

DELTA SPECIALITIES

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 9 Adnan El Madany Street

Area                 : Sahafien, Giza

Town                : Cairo 12411

Country             : Egypt

Telephone         : (20-2) 33038115 / 33465461

Facsimile          : (20-2) 33031181

Mobile              : (20-100) 1553264

Email                : info@deltaspwll.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Suburban Business Area of Cairo.

 

Branch Office (s)

 

Location                                                                                               Description

 

4th Industrial Zone                                                                                 Factory premises

Swiss Complex

6th of October City

Tel: (20-2) 38311157 / 38301707

Fax: (20-2) 38311158

Mob: (20-100) 1797573

 

 

KEY PRINCIPALS

 

Name                                                                                                   Position

 

Dr Tarek Moustafa Abd El Rahman                                                         Managing Partner

 

Ahmed Moustafa Abd El Rahman                                                          Partner

 

Mohamed Moustafa Abd El Rahman                                                      Partner

 

Ghada Mohamed Moustafa Abd El Rahman                                           Partner

 

Islam Mohamed Moustafa Abd El Rahman                                             Partner

 

Osama Mohamed Moustafa Abd El Rahman                                           Partner

 

Mohamed Abdulaziz                                                                              Finance Manager

 

Huda El Alfy                                                                                         Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1999

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 5355, Cairo

 

Tax Card No.                : 200-774-263

 

Issued Capital              : £E 500,000

 

Paid up Capital            : £E 500,000

 

Name of Partners

 

Dr Tarek Moustafa Abd El Rahman

 

Ahmed Moustafa Abd El Rahman

 

Mohamed Moustafa Abd El Rahman

 

Ghada Mohamed Moustafa Abd El Rahman

 

Islam Mohamed Moustafa Abd El Rahman

 

Osama Mohamed Moustafa Abd El Rahman

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of drier for paints and inks, as well as chemical materials for fruits maturation.

 

Subject is ISO 9001:2008 and OHSAS 18001:2007 accredited.

 

Production Capacity: 50 tonnes per year.

 

Import Countries: Germany, Netherlands, Belgium, Sweden, Africa and China.

 

International Suppliers:

 

Midas Chemical                         China

BASF                                       Germany

Prestrop                                   Sweden

 

Export Countries: Saudi Arabia, Syria, Turkey, United Arab Emirates and Africa.

 

Operating Trend: Steady

 

Subject has a workforce of 50 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 22,300,000                           £E 22,750,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

National Bank of Egypt

24 Sherif Street

Cairo

Tel: (20-2) 33924175

Fax: (20-2) 33924143

 

 

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.65.04

UK Pound

1

Rs.99.58

Euro

1

Rs.71.75

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

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%)

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