|
Report No. : |
339122 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
EVERGROW FOR
SPECIALIZED FERTILIZERS |
|
|
|
|
Registered Office : |
Building No. 93B, Smart Village, Kilo 28, Cairo Alexandria Desert Road, Street No. 15, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
05.07.2006 |
|
|
|
|
Com. Reg. No.: |
19498, Cairo |
|
|
|
|
Legal Form : |
Egyptian Joint Stock
Company |
|
|
|
|
Line of Business : |
Manufacture of
Nitrate, Potassium, Phosphate and Calcium Fertilizers. |
|
|
|
|
No. of Employees : |
2,000 |
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 |
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 |
Company Name : EVERGROW FOR SPECIALIZED
FERTILIZERS
Country of Origin : Egypt
Legal Form : Egyptian
Joint Stock Company
Registration Date : 5th
July 2006
Commercial
Registration Number : 19498, Cairo
Tax Card Number : 229-865-399
Issued Capital : £E
1,500,000
Paid up Capital : £E
1,500,000
Total Workforce : 2,000
Activities :
Manufacturers of fertilizers
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Jena Khairy,
Administration Executive
EVERGROW FOR
SPECIALIZED FERTILIZERS
Location : Building No. 93B, Smart Village,
Kilo 28
Street : Cairo Alexandria Desert Road,
Street No. 15
Town : Cairo
Country : Egypt
Telephone : (20-2) 35371091 / 35371092
Facsimile : (20-2) 35371090
Email : info@evergrowfert.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Industrial
Zone Factory
premises
Abou Rawash
Giza
Tel: (20-122) 8699030 / 0001861
Fax: (20-122) 8880573
·
Industrial
Zone No. 7, Plot No. 7043 Factory
premises
El Sadat City
Al Menoufia
Tel: (20-48) 2630040 / 2630041 / 2630042
Fax: (20-48) 2630038
Name Position
·
Mohamed
Mohamed Mohamed El Kheshen Chairman
·
Ahmed Mohamed Mohamed El Kheshen Managing
Director
·
Mohamed
Mohamed Mohamed Mohamed El
Kheshen Director
·
Hassan
El Sayed Mohamed El Shenway Director
·
Khalid
Abd El Maksoud Marketing
Manager
·
Emad
Nabil Commercial
Manager
·
Shahenda
Ahmed Import
Manager
·
Mohamed
Zaki Finance
Manager
·
Jena
Khairy Administration
Executive
Date of Establishment : 5th
July 2006
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 19498, Cairo
Tax Card No. : 229-865-399
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
·
Mohamed
Mohamed Mohamed El Kheshen
·
Ahmed
Mohamed Mohamed El Kheshen
·
Jamal
Mohamed Mohamed El Kheshen
·
Mohamed
Mohamed Mohamed Mohamed El Kheshen
·
Hassan
El Sayed Mohamed El Shenway
Activities: Engaged in the manufacture of nitrate,
potassium, phosphate and calcium fertilizers.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 2,000 employees.
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside sources.
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
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.66.23 |
|
|
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.