MIRA
INFORM REPORT
|
Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EL NEMR FACTORY FOR CARPETS |
|
|
|
|
Registered Office : |
2nd
Industrial Zone, Plot 202, Street No. 37, 6th October City |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Year of Establishment : |
1995 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Manufacturers of carpets and rugs. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EL NEMR FACTORY FOR CARPETS
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1995
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Total Workforce : 300
Activities : Manufacturers of carpets and rugs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
COMPANY NAME
EL NEMR FACTORY FOR
CARPETS
ADDRESS
Registered & Physical
Address
Location : 2nd Industrial Zone,
Plot 202
Street : Street No. 37
Town : 6th October City
Country : Egypt
Telephone : (20-2) 38331368
Facsimile : (20-2) 38330117
Email : el-nemr@el-nemr.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of 6th October City.
Branch Office
(s)
Location Description
·
20 Masnaa El
Nassiq Street Showroom
premises
Shader El Samak
Sharabeya
Cairo
Tel : (20-2) 22354326
KEY PRINCIPALS
Name Position
·
Gabra Adeeb
Abdel Malak Managing
Partner
·
Ahmed Soliman Partner
·
Samy Abdallah Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Name of Shareholder
(s)
·
Gabra Adeeb
Abdel Malak
·
Ahmed Soliman
OPERATIONS
Activities: Engaged in the computerised manufacture of
carpets and rugs.
Import Countries: Europe and the Far East.
Brand Names: NEMR
Subject has a
workforce of approximately 300 employees.
FINANCIAL DATA
Companies
registered in Egypt are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
BANKERS
·
National Bank
of Egypt
24 Sherif Street
Cairo
Tel : (20-2) 23924175
Fax : (20-2) 23924143
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1995, subject is a limited partnership and is involved in the computerised
manufacture of carpets and rugs.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.22 |
|
UK Pound |
1 |
Rs.73.03 |
|
Euro |
1 |
Rs.63.14 |
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%)