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Report No. : |
341753 |
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Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL PAINTS COMPANY |
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Registered Office : |
104 El Thawra Street, Heliopolis, Cairo 11341 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
249153 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the manufacture of water based emulsions, oil based
enamels, industrial paints, textured emulsions and varnishes. |
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No. of Employees : |
250 |
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 :
UNIVERSAL PAINTS COMPANY
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1989
Commercial Registration Number :
249153, Cairo
Issued Capital :
£E 10,800,000
Paid up Capital :
£E 10,800,000
Total Workforce :
250
Activities :
Manufacturers of paints and varnishes.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Nasser Rashed, Finance Manager
UNIVERSAL PAINTS COMPANY
Registered &
Physical Address
Street : 104 El
Thawra Street
Area : Heliopolis
Town : Cairo 11341
Country : Egypt
Telephone : (20-2) 26905013
/ 26905014 / 26905015
Facsimile : (20-2)
26905018
Email : mail@sipes.net
/ nasser@sipes.net
Premises
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 A1, Area 3/26 Owned
factory premises
Taba Street
Tenth of Ramadan City
Tel: (20-15) 412712 / 412711 /
412713 / 412714 / 412715
Fax: (20-15) 410452 / 412714
Ard Bank El Taslef Rented
showroom premises
Damietta
Tel: (20-57) 7330635
El Mahmoudeya Centre Rented
showroom premises
Damanhour Street
Heliopolis
Cairo
Tel: (20-2) 22439454
14 Mesadak Street Rented
showroom premises
Dokki, Giza
Cairo
Tel: (20-2) 27614771
122 El Horreya Road Rented
showroom premises
Alexandria
Tel: (20-3) 5917988
Name Nationality Position
Othman Mohamed Ali Bedir Jordanian Chairman
Mazen Ahmed El Bazry Jordanian Vice Chairman
Mohamed Wajih Ahmed El Bazry Jordanian Director
Omar Mohamed Ali Bedir Jordanian Director
Abdul Hadi Abdul Hameed Jordanian Director
Mostafa El Nahas Jordanian Director
Mahmoud Mohamed Ali Bedir Jordanian Chief
Executive Officer
Mohamed Waguih El Bazry Jordanian Director
Maged Ahmed El Bazry Jordanian Director
Abd El Hamid Edelby - General
Manager
Nasser Rashed - Finance
Manager
Ibrahim Ishaaq - Sales
Manager
Mahmoud Lotaif - Marketing
Manager
Moataz Hussein - IT
Manager
Sherine Youssef
- Human Resources
Manager
Albert Louis
- Procurement
Manager
Date of Establishment : 1989
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 249153, Cairo
Issued Capital : £E 10,800,000
Paid up Capital : £E 10,800,000
Name of
Shareholder (s) Percentage
Sipes International Paints Co. Sal 43.33%
PO Box: 113300
Beirut
Lebanon
Tel: (961-1) 862265 / 862617
Fax: (961-1) 813822
Email: lebanon@sipes.net
Omar Mohamed Ali Bedir ]
]
Othman Mohamed Ali Bedir ]
]
Huda Mohamed Ali Bedir ]
]
Hind Mohamed Ali Bedir ]
]
Abdul Hadi Abdul Hameed ] 43.33%
]
Mazher Saleh Malas ]
]
Samir Saif Eddine Bedir ]
]
Basmah Saif Eddine Bedir ]
]
Suhair Saleh Al Najjar ]
Arab Investment Group 13.33%
Cairo
Egypt
Universal Paints Manufacturing Co (SIPES)
Saudi Arabia
Universal for Building Material & Chemical Co
Cairo
Activities: Engaged in the manufacture of water based emulsions, oil based enamels,
industrial paints, textured emulsions and varnishes.
Import Countries: France, Netherlands, Austria, Switzerland,
Belgium, United Kingdom, Turkey, United States of America, and Morocco.
International Suppliers:
Elf Autochem France
DSM Netherlands
Vianova Kunstharz Austria
Dupont Switzerland
SCM Chemicals United
Kingdom
Belgotrade SA Belgium
Rohm & Haas United
States of America
Operating Trend: Steady
Subject has a workforce of approximately 250 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
120,000,000 £E
124,000,000
Local sources consider subject’s financial condition to be Good.
The above financial were provided by Mr Nasser Rashed, Finance Manager
Arab Bank Plc
28 Talaat Harb Street
PO Box: 2006
Cairo
Tel: (20-2) 22746218
National Societe Generale Bank
10 Talaat Harb Street
Cairo
Tel: (20-2) 25749376
Fax: (20-2) 25776249
Egypt Arab African Bank SAE
PO Box: 61
Cairo
Tel: (20-2) 33551513 / 33550948
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.65.63 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
TPT |
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.