MIRA
INFORM REPORT
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Report Date : |
2nd
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
GAYED TEX COMPANY |
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Registered Office : |
Cairo - Ismailia Road, 7th Street, El Obour Industrial City Cairo, Egypt |
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Country : |
Egypt |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers
of polyester yarns. |
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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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
GAYED TEX COMPANY |
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Also Known As |
GAYED TEX FACTORY FOR TRADE & INDUSTRY |
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Country of Origin |
Egypt |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
2004 |
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Commercial Registration Number |
3462 |
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Issued Capital |
£E 1,000,000 |
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Paid up Capital |
£E 1,000,000 |
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Total Workforce |
100 |
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Line of Business |
Manufacture of polyester yarns. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
GAYED TEX COMPANY
ALSO KNOWN AS : GAYED TEX FACTORY FOR TRADE & INDUSTRY
ADDRESS
Registered & Physical Address
Street : Cairo - Ismailia Road
Area : 7th Street, El Obour Industrial City
Town : Cairo
Country : Egypt
Telephone : (20-2) 6105757
Facsimile : (20-2) 6105858
Email : sales@gayedtex.com
Premises
Subject operates from a medium sized suite of offices that are rented and located in the Industrial Area of Cairo.
Branch Office (s)
Location Description
Block No.13, Street No. 30, El Obour Industrial City Owned factory premises
Cairo - Ismailia Road
Cairo
Tel: (20-2) 6106161
KEY PRINCIPALS
Samy Gayed Gabra Managing Partner
Nassim Gayed Gabra Partner
Nabil Iskander Finance Manager
Nagui Emil Commercial Manager
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 3462
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Partner (s)
Samy Gayed Gabra
Nassim Gayed Gabra
LINE OF BUSINESS
Operations :
Engaged in the manufacture of polyester yarns.
Import Countries : India, Germany and France.
Subject has a workforce of approximately 100 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below:
Currency : Egyptian Pounds (£E)
Year Ending 31/12/05
Total Revenue £E 13,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Al Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 3379363
Fax: (20-2) 3772959
Societe Arabe Internationale de Banque
PO Box: 124
Cairo
Tel: (20-2) 3499464 / 3603489
Fax: (20-2) 3603497 / 3603487
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
During the course of this investigation nothing detrimental was uncovered regarding the manner in which payment obligations are fulfilled. The operating history is clear and the financial situation is satisfactory. As such we are of the opinion that the subject is a fair trade risk and the above credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 200,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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