MIRA
INFORM REPORT
|
Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EL NILE FINE SPINNING AND WEAVING CO SAE |
|
|
|
|
Registered Office : |
2nd
Industrial Zone, Plot 6-13/28-35, Sadat City, Menoufeya |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
2006 |
|
|
|
|
Com. Reg. No.: |
20400 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of Knitted Fabrics,
Cotton and Man Made Yarns |
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$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EL NILE FINE SPINNING AND WEAVING CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2006
Commercial Registration Number : 20400
Authorised Capital : £E 300,000,000
Issued Capital : £E 50,000,000
Paid up Capital : £E 5,000,000
Total Workforce : 200
Activities : Manufacture of knitted fabrics, cotton and man made yarns
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
EL NILE FINE
SPINNING AND WEAVING CO SAE
ADDRESS
Registered & Physical Address
Location : 2nd
Industrial Zone, Plot 6-13/28-35
Town : Sadat
City
District : Menoufeya
Country : Egypt
Telephone : (20-48) 2612201
/ 2612203 / 2612204 / 2612205
Facsimile : (20-48) 2612202
Premises
Subject operates from
a large suite of offices and a factory that are rented and located in the
Industrial Area of Sadat City.
KEY PRINCIPALS
Name Position
·
Mohamed
Ghazal Marzouk Abd El Hamid Managing
Director
·
Sherif
Mohamed Ghazal Marzouk Abd El Hamid Director
·
Moustafa
Mohamed Ghazal Marzouk Abd El Hamid Director
·
Maged
Mohamed Ghazal Marzouk Abd El Hamid Director
·
Mahmoud
Mohamed Ghazal Marzouk Abd El Hamid Director
·
Maged
Nassar Finance
Manager
·
Mahmoud
Abd El Kader Maintenance
Manager
·
Essam
Hosney Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2006
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 20400
Authorised
Capital : £E 300,000,000
Issued Capital : £E
50,000,000
Paid up Capital : £E 5,000,000
Name of Shareholder (s)
·
El
Ghazal Holding for Financial Investment
·
Mohamed
Ghazal Marzouk Abd El Hamid
·
Sherif
Mohamed Ghazal Marzouk Abd El Hamid
·
Moustafa
Mohamed Ghazal Marzouk Abd El Hamid
·
Maged
Mohamed Ghazal Marzouk Abd El Hamid
·
Mahmoud
Mohamed Ghazal Marzouk Abd El Hamid
OPERATIONS
Activities: Engaged in the manufacture of knitted fabrics, cotton and man made yarns.
Import
Countries: India and Italy
Subject has a
workforce of approximately 200 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
Qwesna Branch
Menoufeya
Tel: (20-48) 573034
Fax: (20-48) 573171
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 and the above credit figure is within
subject’s financial means.
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%)