MIRA
INFORM REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE MISR POUR L'EXPORTATION DU COTON SAE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
1923 |
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Com. Reg. No.: |
3819, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Export of Egyptian cotton |
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$ 800,000 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : SOCIETE MISR POUR L'EXPORTATION DU COTON SAE
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1923
Commercial Registration Number : 3819,
Authorised Capital : £E 10,000,000
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Total Workforce : 250
Activities : Export of Egyptian cotton
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 800,000
COMPANY NAME
SOCIETE MISR POUR L'EXPORTATION DU COTON SAE
ADDRESS
Registered & Physical Address
Location :
PO Box : 21519
& 357
Town :
Country :
Telephone : (20-3) 4842099
/ 4842088 / 4842077 / 4842400 / 4875581
Facsimile : (20-3) 4851588
/ 4847710 / 4851577 / 4842400
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of
Branch Office
(s)
Location Description
·
Mahalla, Gharbeya
·
Mahlag El Arabia Building Office
premises
Damanhour
Beheira
·
Kafr El Sheikh
·
El Zehour Tower
Mansoura
Dakahleya
·
·
Minia
·
Assiut
·
El
Benha
Kaliubeya
·
55 El Horreya Road Office
premises
Fayoum
KEY PRINCIPALS
Name Position
·
Mamdouh
Sayed Abd El Satar Chairman
·
Hassan
Mahmoud Director
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Dr Momtaz Momtaz El Said Director
·
Hosny
Mahmoud Tammam Director
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Mahmoud
Tantawy Director
·
Samir
Safwat Director
·
Ali
Ghazal Finance
Manager
·
Mohamed
Abd El Hady Commercial
Manager
·
Mohamed
Tabey Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1923
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 3819,
Authorised Capital : £E
10,000,000
Issued Capital : £E
5,000,000
Paid up Capital : £E 5,000,000
Name of Shareholder (s) Percentage
·
Cotton, Spinning, Weaving & Garments Holding 100%
Abdin
Tel: (20-2) 33953447
OPERATIONS
Activities: Engaged in the export
and marketing of Egyptian cotton.
Import
Countries:
Export Countries
:
Operating Trend: Steady
Subject has a workforce
of approximately 250 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales £E 86,061,000 £E 110,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Banque
Misr
Agami
Tel: (20-3) 4302697
·
National
Bank of
Tel: (20-3) 4824802 / 4825715
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 |
|
US Dollar |
1 |
Rs.45.16 |
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|
1 |
Rs.70.64 |
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Euro |
1 |
Rs.58.68 |
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.