MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
EGYPTIAN CO FOR DYEING & FINISHING |
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Registered Office : |
Mogamma
El Nasana Street (7, Factories Complex Street),
El Amireya, Hadayek El Qobba, Cairo, Egypt. |
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Country : |
Egypt |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
9807, Cairo |
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Legal Form : |
Societe
Anonyme Egyptienne – SAE (Egyptian Joint Stock Company) |
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Line of Business : |
Engaged in the dyeing of yarns and fabrics, as well as the
manufacture of T- shirts and shirts for men. |
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$
150,000 |
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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 |
EGYPTIAN CO FOR DYEING & FINISHING |
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Country
of Origin |
Egypt |
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Legal
Form |
Egyptian Joint Stock Company |
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Registration
Date |
1994 |
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Commercial
Registration Number |
9807, Cairo |
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Issued
Capital |
£E 500,000 |
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Paid
up Capital |
£E 500,000 |
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Total
Workforce |
35 |
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Line
of Business |
Dyeing of yarns
and fabrics, as well as the manufacture of T-shirts and shirts for men |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
EGYPTIAN
CO FOR DYEING & FINISHING
ADDRESS
Registered & Physical Address
Street : Mogamma El Nasana Street (7, Factories Complex Street)
Area : El
Amireya, Hadayek El Qobba
Town : Cairo
Country : Egypt
Telephone : (20-2) 4263686
/ 4222441
Facsimile : (20-2) 4231090
/ 4262186
Mobile : (20-12) 7372293
Email : ahmed@hotmail.com
Premises
Subject
operates from a medium sized suite of offices and a factory that are owned and
located in the Industrial Area of Cairo.
Branch Office (s)
Location Description
· 72 Abd El Salam
Tantawy Street Sales
Office
Hadayek
El Qobba
Cairo
KEY PRINCIPALS
· Dr. Hussein Ibrahim
El Azghal Chairman
· Ahmed Hussein Ibrahim
El Azghal Managing
Director
· Moustafa Mohamed Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form : Societe Anonyme Egyptienne – SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 9807, Cairo
Issued
Capital : £E 500,000
Paid
up Capital : £E 500,000
Name of Shareholder (s)
· Dr. Hussein Ibrahim
El Azghal
· Ahmed Hussein Ibrahim
El Azghal
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe Anonyme Egyptienne - SAE – should not be less than £E 500,000 if shares are offered to the public and £E 250,000 if not. If shares are offered to the public they are freely transferable, if not, transfer may be restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations
: Engaged in the dyeing of yarns and fabrics, as well as the
manufacture of T- shirts and shirts for men.
Import
Countries :
India
Brand
Names : EMARGENCY
Operating
Trend : Steady
Subject
has a workforce of 35 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Egyptian Pounds (£E)
Year
Ending 31/12/04: Year
Ending 31/12/05:
Total
Revenue £E
7,350,000 £E
7,900,000
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
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
Maximum
suggested credit figure: US$ 150,000
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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