MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ALCOTAN
COTTON TRADING & EXPORT CO |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1961 |
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Com. Reg. No.: |
58809, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the
marketing and export of cotton. |
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$ 1,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ALCOTAN COTTON TRADING & EXPORT CO
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1961
Commercial Registration Number :
58809,
Authorised Capital : £E 5,000,000
Issued Capital : £E 1,566,000
Paid up Capital : £E 1,566,000
Total Workforce : 550
Line of Business : Marketing and export of cotton.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ALCOTAN
COTTON TRADING & EXPORT CO
ADDRESS
Registered & Physical Address
Location :
PO Box : 461
Town :
Country :
Telephone : (20-3) 4860192
/ 4846083 / 4861264
Facsimile : (20-3) 4837782
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Subject operates sales offices throughout
KEY PRINCIPALS
·
Dr. Ahmed Moustafa Mohamed Chairman
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Abdallah Hussein Director
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Mohamed El Shazly Director
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Mohamed Hassan El Menyawy Director
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Mohamed Hassan Finance
Manager
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Mohamed El Bastawesy Sales
Manager
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Mohamed Mohsen Hagras Marketing
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1961
Legal Form :
Societe Anonyme Egyptienne
– SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 58809,
Authorised
Capital : £E 5,000,000
Issued Capital : £E 1,566,000
Paid up Capital : £E 1,566,000
Name of Shareholder
(s) Percentage
·
Cotton, Spinning, Weaving & Garments Holding 100%
Abdin
Tel: (20-2) 3953447
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 marketing and export of
cotton.
Import Countries
:
Export Countries
:
Subject has a
workforce of approximately 550 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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National
Bank of
177,
Tel : (20-3) 5701930
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Banque
Misr
Agami
Tel : (20-3) 4302697
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Banque
du Caire SAE
Tel: (20-3) 4821242
Fax: (20-3) 4834506
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Bank of
Tel: (20-3)
4871460 / 4870159 / 4874147 / 4871200
Fax: (20-3) 4868704
/ 4871262
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$ 1,000,000
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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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%)