%2017-Oct-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
17.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
EL NASR POLYESTER
SPINNING (SALEMCO) |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1954 |
|
|
|
|
Com. Reg. No.: |
59316, 10th of Ramadan |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Engaged in the spinning and weaving of polyester yarns, as well as producing,
dying, printing, finishing of polyester & mixture fabrics. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 750,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EL NASR POLYESTER SPINNING (SALEMCO)
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1954
Commercial Registration Number : 59316, 10th of Ramadan
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 1,200
Line of Business :
Spinning and weaving of polyester yarns, as well as
producing, dying,
printing, finishing of polyester & mixture fabrics.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
EL NASR POLYESTER
SPINNING (SALEMCO)
ADDRESS
Registered & Physical Address
Street : 13 Fawzy El Motei Street
Area : Ismaileya
Square, Heliopolis
Town :
Country : Egypt
Telephone : (20-2) 26901872 / 26901873
Facsimile : (20-2) 26901874
Mobile :
(20-10) 2513701
Email : info@salemeg.com
Premises
Subject operates from
a large suite of offices that are rented and located in the Suburban Business
Area of Cairo.
Branch Office (s)
Location Description
·
Industrial
Zone B2 Owned
factory premises
Khartoum
Street
10th of Ramadan
Tel: (20-15)
364622
Fax: (20-15)
362198
KEY PRINCIPALS
·
Farouk Salem Managing
Partner
·
Mohamed Fariz Salem Partner
·
Abd El Halim Salem Partner
·
Ahmed Salem Partner
·
Dr Sally Salem Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1954
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 59316, 10th of Ramadan
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Name of Partner (s)
·
Farouk Salem
·
Mohamed Fariz Salem
·
Abd El Halim Salem
·
Ahmed Salem
LINE OF BUSINESS
Operations : Engaged in the spinning
and weaving of polyester yarns, as well as producing, dying, printing,
finishing of polyester & mixture fabrics.
Import Countries
: Korea, Taiwan, China, and
Saudi Arabia.
Export Countries
:
Subject has a
workforce of approximately 1,200 employees.
FINANCIAL
HIGHLIGHTS
Companies
registered in
BANKERS
·
National
Bank of
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
·
Banque Misr
151 Mohamed Farid Street
Cairo
Tel : (20-2) 3912711 / 3912106
Fax : (20-2) 3919779
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$ 750,000
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)