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MIRA
INFORM REPORT
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Report Date : |
11.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
GERMAN
CO FOR DYEING & READYMADE GARMENTS (SAMIRTEX) |
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Registered Office : |
Private
Free Zone, Block 3007, Industrial Zone No. 1, El Obour City, Cairo |
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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 : |
Engaged
in the manufacture and dyeing of fabrics and clothing items. |
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$
100,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : GERMAN CO FOR DYEING & READYMADE GARMENTS
(SAMIRTEX)
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2004
Commercial Registration Number : 5500
Issued Capital : £E 3,000,000
Paid up Capital : £E 3,000,000
Total Workforce : 100
Line of Business : Manufacturers and dyers of fabrics and clothing items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
GERMAN CO
FOR DYEING & READYMADE GARMENTS (SAMIRTEX)
ADDRESS
Registered & Physical Address
Location : Private Free Zone, Block 3007
Area : Industrial Zone No. 1, El
Obour City
Town : Cairo
Country : Egypt
Telephone : (20-2) 6104442
Facsimile : (20-2) 6104443
Premises
Subject
operates from a large suite of offices and a factory that are rented and
located in the Industrial Area of Cairo.
KEY PRINCIPALS
· Sayed Samir Mohamed Hassan Managing
Partner
· Samir Mohamed Hassan Partner
LEGAL FORM &
OWNERS
Date of Establishment : 2004
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 5500
Issued
Capital : £E 3,000,000
Paid
up Capital : £E 3,000,000
Name of Partner (s)
· Sayed Samir Mohamed Hassan
· Samir Mohamed Hassan
AFFILIATED COMPANIES
· German Co for Dyeing &
Readymade Garments
10th of Ramadan City
Tel : (20-15) 410906
Fax
: (20-15) 410907
LINE OF BUSINESS
Operations
: Engaged in the
manufacture and dyeing of fabrics and clothing items.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 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
18,000,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Arab
International Bank
95 El Merghani Street
Heliopolis
Cairo
Tel : (20-2) 2902069
Fax
: (20-2) 4173524
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 2004, subject is involved in the manufacture and dyeing of fabrics and
clothing items.
Local
sources report that the subject’s operating history is clear with payment
obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
Maximum
suggested credit figure: US$ 100,000
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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