MIRA
INFORM REPORT
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Report Date : |
12.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALEXANDRIA COMMERCIAL COMPANY |
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Registered Office : |
1,
Dr. Ahmed Abd El Salam Street,
Sultan Hussein, PO Box 623, Alexandria |
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Country : |
Egypt |
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Date of Incorporation : |
1923 |
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Com. Reg. No.: |
2669, Alexandria |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Traders and Exporters of
Egyptian Cotton and Its By Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ALEXANDRIA COMMERCIAL COMPANY
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1923
Commercial Registration Number : 2669, Alexandria
Authorised Capital : £E 10,000,000
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Total Workforce : 530
Activities : Traders and exporters of Egyptian cotton & its by products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,000,000
COMPANY NAME
ALEXANDRIA COMMERCIAL COMPANY
ADDRESS
Registered & Physical Address
Street : 1,
Dr. Ahmed Abd El Salam Street
Area : Sultan
Hussein
PO Box : 623
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4824347
/ 4865983 / 4847360 / 4847369
Facsimile : (20-3) 4847368
Email : info@alex-comm.com.eg
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Office (s)
Subject operates branches located at Damanhour,
El Mahalla El Kobra, Mansoura, Banha, Fashhn, Menya, and Balyana.
KEY PRINCIPALS
Name Position
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Mohamed
Ibrahim Mohamed El Sayed Chairman
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Ahmed
Abd El Rahman El Kadey Director
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Hassan
Hafez El Atal Director
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Magdy
Abu El Ela Director
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Mahmoud
Ali Tantawy Finance
Manager
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Moustafa
Ghazal Accounts
Manager
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Mahmoud
Haridi Marketing
Manager
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Moustafa
Abd El Aal Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1923
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 2669, Alexandria
Authorised
Capital : £E 10,000,000
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Name of Shareholder (s) Percentage
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Cotton,
Spinning, Weaving & Garments Holding Company 100%
7 El Taher Street
Abdin
Cairo
Tel: (20-2) 23953447 / 23905153
Fax: (20-2) 23953446
OPERATIONS
Activities: Engaged as
traders and exporters of Egyptian cotton & its by products.
Export
Countries: Germany, Italy, India, Pakistan, and Turkey.
Subject has a
workforce of approximately 530 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
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Banque Misr
El Hanoville Street
Agami
Alexandria
Tel : (20-3) 4302697
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National Bank
of Egypt
177, Mostafa Kamel Street
Alexandria
Tel : (20-3) 5701930
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Banque du
Caire SAE
5 Salah Salem Street
Alexandria
Tel: (20-3) 4821242
Fax: (20-3) 4834506
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Alexandria
Commercial Company was established in 1923 and is a member of Alexandria Cotton
Exporters Association. The company is the first and largest cotton merchant of
raw cotton, cotton requirements and products in Egypt.
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%)