MIRA
INFORM REPORT
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Report Date : |
01.12.2011 |
IDENTIFICATION DETAILS
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Name : |
JACQUARD DINA TEXTILE CO |
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Registered Office : |
27 Abdel Rahman Fawzy Street Gharbeya PO Box 144 Mehalla El Kubra |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1969 |
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Com. Reg. No.: |
25582 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture and exporter of home textiles |
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No. of Employees : |
300 |
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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Maximum Credit Limit : |
US$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Egypt |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : JACQUARD DINA TEXTILE CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1969
Commercial Registration Number : 25582
Industrial Registration Number : 8734
Tax Card Number : 177-185-100
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 300
Activities : Manufacture and exporter of home textiles
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
JACQUARD DINA TEXTILE CO
ADDRESS
Registered & Physical Address
Street : 27 Abdel
Rahman Fawzy Street
Area : Gharbeya
PO Box : 144
Town : Mehalla El
Kubra
Country : Egypt
Telephone : (20-40) 2441675
/ 2441794
Facsimile : (20-40)
2440668
Mobile : (20-10)
3628504
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Mehalla El Kubra.
KEY PRINCIPALS
Name Position
· Farouk Abu El
Enein Kadous Managing
Partner
· Ayman Farouk Abu
El Enein Kadous Partner
· Mohamed Refaat Export
Manager
· Shaimaa Abdallah Administration
Manager
· Sami Khalifa Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1969
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 25582
Industrial Reg.
No. : 8734
Tax Card No. : 177-185-100
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Shareholder (s) Percentage
· Farouk Abu El
Enein Kadous 60%
· Ayman Farouk Abu
El Enein Kadous 30%
· Members of Mr
Ayman Farouk Abu El Enein Kadous Family 10%
OPERATIONS
Activities: Engaged in the manufacture and exporter of home textiles, including
bathroom and kitchen towels,
bathrobes and beach towels.
Import Countries: Italy and India
Export Countries: Italy, Austria, Spain, France, United Kingdom,
Germany, Portugal and the United States of
America
Operating Trend: Steady
Subject has a workforce of approximately 300 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E
25,000,000 £E
27,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
· Export Development
Bank of Egypt
108 Mohi El Din
Abu El Ezz Street
Mohandessin
Cairo
11111
Tel:
(20-2) 33619005 / 33385877
Fax:
(20-2) 33385940 / 33385938
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.16 |
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|
1 |
Rs.81.29 |
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Euro |
1 |
Rs.69.47 |
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 |
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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-- |
NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.