MIRA
INFORM REPORT
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Report Date : |
23.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAMOTEX TEXTILES INDUSTRIES COMPANY |
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Registered Office : |
El Mansoura Road, El Mahalla El Kobra, Gharbeya |
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Country : |
Egypt |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
548, Mahalla |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and Export of Terry Textiles |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
SAMOTEX TEXTILES
INDUSTRIES COMPANY
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1996
Commercial Registration Number :
548, Mahalla
Authorised Capital :
£E 20,000,000
Issued Capital :
£E 260,000
Paid up Capital :
£E 260,000
Total Workforce :
450
Line of Business :
Manufacture and export of terry textiles
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
SAMOTEX TEXTILES INDUSTRIES COMPANY
ADDRESS
Registered & Physical Address
Location : El Mansoura Road
Town : El Mahalla
El Kobra
District :
Gharbeya
Country : Egypt
Telephone : (20-40) 2223233 / 2213623
Facsimile : (20-40) 2225052
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of El Mahalla El Kobra
KEY PRINCIPALS
· Moustafa
Mohamed Rashad El Samouly Managing
Director
· Mahmoud
Mohamed Rashad El Samouly Director
· Mohamed
Samy El Alfy Director
· Ramadan
El Bassiouny El Refaie Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1996
Legal Form : Societe Anonyme
Egyptienne – SAE (Egyptian Joint Stock Company)
Commercial Reg.
No. : 548, Mahalla
Authorised Capital : £E 20,000,000
Issued Capital : £E 260,000
Paid up Capital : £E 260,000
Name of Shareholder (s)
· Moustafa
Mohamed Rashad El Samouly
· Mahmoud
Mohamed Rashad El Samouly
· Mohamed
Mohamed Rashad El Samouly
· Soad Mohamed
Rashad El Samouly
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 manufacture and export of terry textiles,
including bath robes
and
kitchen towels.
Import Countries : India and China
Export Countries : United States of America, Australia, United Kingdom,
France, Germany,
Italy, Spain,
Ireland, Greece, and the Netherlands.
Brand Names : SAMOTEX
Subject has a workforce of approximately 450 employees.
FINANCIAL HIGHLIGHTS
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
Abdel Hai Khalil Street
El Mahalla El Kobra
Gharbeya
Tel: (20-40) 2230565 / 2245127
Fax: (20-40) 2234065
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.
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. |
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%)