MIRA
INFORM REPORT
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Report Date : |
24.12.2011 |
IDENTIFICATION DETAILS
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Name : |
TALAAT HARB COTTON COMPANY SAE |
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Registered Office : |
12 Kamel El Kelani Street Bab Sharq
Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1995 |
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Com. Reg. No.: |
10746, Alexandria |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of raw cotton. |
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No. of Employees : |
80 |
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$ 500,000 |
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Status : |
Atisfactory |
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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
|
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 : TALAAT HARB COTTON COMPANY SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1995
Commercial Registration Number : 10746, Alexandria
Issued Capital : £E 19,689,625
Paid up Capital : £E 19,689,625
Total Workforce : 80
Activities : Distributors of raw cotton.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
TALAAT HARB COTTON COMPANY SAE
ADDRESS
Registered & Physical Address
Street : 12 Kamel El Kelani Street
Area : Bab Sharq
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4950607 / 4950609 / 4950608
Facsimile : (20-3) 4950606
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Alexandria.
KEY PRINCIPALS
Name Position
· Shafik Mohamed Abd El Kader Gomaa Chairman
· Shaaban El Sayed Mohamed Director
· Taha Helmy Ali Hassan Director
· Dr Moustafa Kamel El Said Director
· Mohamed Abd El Moneim Director
· Talaat Abu El Nasr Abd El Gawad Director
· Mohamed Salem Finance
Manager
· Mohamed Abbass Ismail Administration
Manager
· Essam El Shafie Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1995
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 10746, Alexandria
Issued Capital : £E 19,689,625
Paid up Capital : £E 19,689,625
Name of Shareholder (s) Percentage
· Banque Misr 30.19%
El Hanoville
Street
Agami
Alexandria
Tel: (20-3) 4302697
· National Insurance 5.84%
Egypt
· Misr Insurance 3.65%
Egypt
· Misr Romania Bank 0.77%
Egypt
· Private Investors 59.55%
OPERATIONS
Activities: Engaged in the import and distribution of raw cotton.
Import Countries: Sudan, Greece, Spain and
Syria.
Export Countries: Switzerland, United
Kingdom, Italy, Pakistan, India and the United States of America.
Operating Trend: Steady
Subject has a workforce of 80 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
103,800,000 £E
108,450,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Banque Misr
El Hanoville
Street
Agami
Alexandria
Tel: (20-3)
4302697
· Bank of Alexandria
Talaat
Harb Branch
Alexandria
Tel:
(20-3) 4878571 / 4862695 / 4869398
Fax:
(20-3) 4863577
·
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
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.72 |
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|
1 |
Rs.82.70 |
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Euro |
1 |
Rs.68.90 |
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 |
-- |
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.