MIRA INFORM
REPORT
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Report Date : |
25.07.2011 |
IDENTIFICATION DETAILS
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Name : |
CONCRETE FOR READY MADE GARMENTS SAE |
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Registered Office : |
37 Gameat Al Dowal
Al Arabia Street, Mohandessin, Giza, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1989 |
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Com. Reg. No.: |
5365 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of clothing items for men, boys and girls |
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$ 150,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Bottom of Form
SUMMARY
Company Name : CONCRETE FOR READY MADE GARMENTS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1989
Commercial Registration Number : 5365
Tax Card Number : 200-555-308
Issued Capital : £E 27,310,000
Paid up Capital : £E 27,310,000
Total Workforce : 1,350
Activities : Manufacturers of clothing items for men, boys and girls.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
CONCRETE FOR READY
MADE GARMENTS SAE
company ADDRESS
Registered & Physical Address
Street : 37 Gameat Al Dowal Al Arabia
Street
Area : Mohandessin, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 37604824 / 37604826 / 37488784
Facsimile : (20-2) 37604828
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
2nd
Industrial Zone, Plot 11 Factory
premises
6th of October City
Tel : (20-2) 38335387
Fax : (20-2) 38332004
·
First
Mall Office
premises
35 Giza Street
Giza
Cairo
Tel : (20-2) 35696254
KEY PRINCIPALS
Name Position
·
Dr Alaa
Ahmed Abd El Maksoud Arafa Chairman
·
Hala
Hashem Director
·
Laila
Mahmoud Director
·
Maha
Hashem Director
·
Sherine
Ahmed Abd El Maksoud Arafa Director
·
Ramy
Raouf Sales
Manager
·
Bassem
Nabil Finance
Manager
·
Mohamed
Derar Production
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1989
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 5365
Tax Card No. : 200-555-308
Issued Capital : £E 27,310,000
Paid up Capital : £E 27,310,000
Name of Shareholder
(s) Percentage
·
Arafa
Holding 92.0%
·
El
Hakim Family 3.0%
·
Dr Alaa
Ahmed Abd El Maksoud Arafa 2.5%
·
Maha
Hashem 2.5%
OPERATIONS
Activities: Engaged in the manufacture of clothing items
for men, boys and girls.
Import
Countries: China, Taiwan
and the United Kingdom.
Brand Names: CONCRETE
Operating Trend: Steady
Subject has a
workforce of approximately 1,350 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
States Dollars (US$)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total sales US$ 14,946,443 US$ 16,147,545
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 25703043
Fax : (20-2) 25703172 / 25072691
·
National
Bank of Egypt
Cairo
Tel : (20-2) 33924175
Fax : (20-2) 33924143
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
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UK Pound |
1 |
Rs.72.34 |
|
Euro |
1 |
Rs.63.87 |
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.