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Report No. : |
342175 |
|
Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BATRAA CHEMICALS
AND PAINTS |
|
|
|
|
Registered Office : |
11 El Khalifa El Mansour Street Heliopolis Cairo |
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|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
1986 |
|
|
|
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Com. Reg. No.: |
2000 |
|
|
|
|
Legal Form : |
Egyptian Joint
Stock Company |
|
|
|
|
Line of Business : |
Engaged in the manufacture
of colorants for various uses including polyester sheets, synthetic sponges
and leather. |
|
|
|
|
No. of Employee : |
30 |
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 |
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|
|
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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 |
|
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 : BATRAA
CHEMICALS AND PAINTS
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 1986
Commercial
Registration Number : 2000
Industry
Registration Number : 7318
Chamber Licence
Number : 0709
Issued Capital : £E
3,000,000
Paid up Capital : £E
3,000,000
Total Workforce :
30
Activities :
Manufacturers of colorants for various uses
Financial Condition : Fair
Payments :
No complaints
Operating Trend :
Steady
Person Interviewed : Medhat Kamel
Barsoum, Director
BATRAA CHEMICALS
AND PAINTS
Street : 11 El Khalifa El Mansour Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22414668 / 26358914
Facsimile : (20-2) 26358914 / 26358924
Mobile :
(20-100) 1060261
Email : elbatraa@hotmail.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
·
3rd
Industrial Zone, Plot No. 6 Factory premises
Block 22006
El Obour City
Cairo
Tel: (20-12) 2146113
Name Position
·
Mokhtar
Kamel Barsoum Chairman
·
Medhat
Kamel Barsoum Director
·
Yahya
Kamel Barsoum Director
·
Wael
Mokhtar Kamel Barsoum Director
Date of Establishment : 1986
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 2000
Industry Reg. No. : 7318
Chamber
Licence No. : 0709
Issued Capital : £E 3,000,000
Paid up Capital : £E 3,000,000
·
Mokhtar
Kamel Barsoum
·
Medhat Kamel
Barsoum
·
Yahya
Kamel Barsoum
·
Wael
Mokhtar Kamel Barsoum
Activities: Engaged in the manufacture of colorants for
various uses including polyester sheets, synthetic sponges
and leather.
Import
Countries: Europe, India
and China.
International Suppliers:
·
Sodharchan
India Industries India
·
Chang
Zu Ltd China
Export
Countries: Saudi Arabia,
Libya, Kuwait and Sudan.
Brand Names: ANSOMAT
Operating Trend: Steady
Subject has a
workforce of 30 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 16,600,000 £E 17,265,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Medhat Kamel Barsoum, Director
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
No complaints
regarding subject’s payments have been reported.
Please note that
the correct name of the subject is “Batraa Chemicals and Paints” and not “El
Batra Man for Chemicals & Paint”.
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.65.97 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
ANK |
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.