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Report No. : |
340463 |
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Report Date : |
16.09.2015 |
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Tel No.: |
01003416450 |
IDENTIFICATION DETAILS
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Name : |
THE NATIONAL COMPANY FOR FERTILIZERS AND CHEMICALS (AGROCHEM) |
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Registered Office : |
Km 57, Alex Cairo
Desert Road, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1st
January 1981, however subject was registered on 2nd December 1995 |
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Com. Reg. No.: |
3919 |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Manufacture of pesticides,
fertilizers and related materials. Subject’s products include sulphuric acid,
granulated single and triple super phosphate, potassium sulphate, and
compounded fertilizers. |
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No. of Employees : |
55 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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 : THE
NATIONAL COMPANY FOR FERTILIZERS AND CHEMICALS
(AGROCHEM)
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Start Date : 1st
January 1981
Registration Date : 2nd
December 1995
Commercial
Registration Number : 3919
Membership Number : 4107
Issued Capital : £E
1,000,000
Paid up Capital : £E
1,000,000
Total Workforce : 55
Activities :
Manufacturers of pesticides, fertilizers and related materials
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
THE NATIONAL
COMPANY FOR FERTILIZERS AND CHEMICALS (AGROCHEM)
Location : Km 57, Alex Cairo Desert Road
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5440640
Facsimile : (20-3) 5411150
Mobile : (20-128) 1131980 / (20-100)
3416450
Email : info@agrochem.com.eg
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Alexandria.
Branch Office
(s)
Location Description
·
473 El
Horreya Street Office
premises
Bolky
Alexandria
Name Position
·
Gamal
El Din Abd El Fatah Abd El Rahman Hamada Chairman
·
Azza
Mahmoud Ahmed Director
·
Emad
Helmy Abd El Gouad Director
·
Mohamed
Megahed Marketing
Manager
·
Mohamed
El Ganzoury Finance
Manager
·
Ezzat
Fathy Malak Purchasing
Manager
Date of Establishment : 1st
January 1981, however subject was registered on 2nd December 1995
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 3919
Membership No. : 4107
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
·
Gamal
El Din Abd El Fatah Abd El Rahman Hamada
·
Azza
Mahmoud Ahmed
·
Emad
Helmy Abd El Gouad
Activities: Engaged in the manufacture of pesticides, fertilizers
and related materials. Subject’s products include
sulphuric acid, granulated
single and triple super phosphate, potassium sulphate, and compounded
fertilizers.
Production Capacity: 2,000 tons per year
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 55 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 14,000,000 £E 14,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Credit
Agricole
Main Branch
Alexandria
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.66.44 |
|
|
1 |
Rs.102.41 |
|
Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.