MIRA
INFORM REPORT
|
Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EGYPTIAN INTERNATIONAL CO FOR KNITTING & DYEING |
|
|
|
|
Registered Office : |
Second Industrial
Zone, Block 34, New Borg El Arab City, Alexandria |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
1967 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Production of Fabrics and Cloth as well as Dyeing and
Finishing for Fabrics And Textile Goods |
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$ 400,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EGYPTIAN INTERNATIONAL CO FOR KNITTING & DYEING
Trading As : DYETEX
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Start Date : 1967
Registration Date : 1990
Commercial Registration Number : 129600, Alexandria
Authorised Capital : £E 5,000,000
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Total Workforce : 500
Activities : Production of fabrics and cloth as well as dyeing and finishing for fabrics and textile goods
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 400,000
COMPANY NAME
EGYPTIAN
INTERNATIONAL CO FOR KNITTING & DYEING
TRADING AS
DYETEX
ADDRESS
Registered & Physical Address
Location : Second Industrial Zone, Block 34
Area : New Borg El Arab City
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4591290 / 4591293 / 4592138
Facsimile : (20-3) 4592137
Email : dyetex@link.net
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Alexandria.
Branch Office (s)
Location Description
·
32 Kanob
Street Rented
Sales Office
Camp Cesar
Alexandria
Tel: (20-3) 5913113 / 5972554
Fax: (20-3) 5973974
KEY PRINCIPALS
Name Position
·
Mohamed Fadel
Sultan Managing
Director
·
Bassem Mohamed
Fadel Sultan Director
·
Hazem Mohamed
Fadel Director
·
Mohamed Fathi Commercial
Manager
·
Eng Mohamed
Tariq Production
Manager
·
Abd El Razik Bassiouny Finance
Manager
·
Omar El Rafaie Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 1967, however it was registered in 1990.
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 129600,
Alexandria
Authorised
Capital : £E 5,000,000
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Name of Shareholder (s)
·
Mohamed Fadel
Sultan
·
Bassem Mohamed
Fadel Sultan
·
Hazem Mohamed
Fadel
OPERATIONS
Activities: Engaged in the production and processing of
man-made fibres, fabrics and cotton for clothing and
household linen, as well
as sportswear, leisurewear and unisex garments.
Subject also performs dyeing and finishing for fabrics and textile goods.
The company’s clients include Nile and Target, both based in the USA.
Production
Capacity: 120 tons per
month
Import
Countries: India, Japan and
Europe.
Export
Countries: United States of
America
Subject has a workforce
of approximately 500 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
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel : (20-3) 4824643 / 4834255
Fax : (20-3) 4832240
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Egyptian International
Co For Knitting & Dyeing has operations dating back to 1967 and specialises
in the production of fabrics and cloth as well as dyeing and finishing for
fabrics and textile goods.
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
admissible.
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%)