MIRA INFORM
REPORT
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Report Date : |
21.06.2011 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN MASK FOR READY MADE GARMENTS SAE |
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Registered Office : |
Salam Road, Abu
Zaable, El Khanka, El Kaloubiya, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
21.05.1995 |
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Com. Reg. No.: |
49192, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of clothing items. |
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 : |
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
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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 : GOLDEN MASK FOR READY MADE GARMENTS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Start Date : 21st May 1995
Commercial Registration Number : 49192, Cairo
Issued Capital : £E 2,000,000
Paid up Capital : £E 2,000,000
Total Workforce : 250
Activities : Manufacturers of clothing items.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
GOLDEN MASK FOR
READY MADE GARMENTS SAE
company ADDRESS
Registered & Physical Address
Street : Salam Road
Area : Abu Zaable, El Khanka, El
Kaloubiya
Town : Cairo
Country : Egypt
Telephone : (20-2) 44679481 / 44679423
Facsimile : (20-2) 44679481 / 44679423
Mobile : (20-18) 3968083
Email : goldenmask@link.net
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Dr
Bahaa Eddine Ismail Mohamed Rafaat Chairman
·
Khalid
Bahaa Eddine Ismail Mohamed Rafaat Managing
Director
·
Ismail Eddine
Ismail Mohamed Rafaat Director
·
Dr
Nihal Kamel Factory
Manager
·
Khaled
Shamkh Commercial
Manager
·
Wafa El
Halawani Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 21st
May 1995
Legal Form :
Egyptian Joint Stock Company
Commercial Reg. No. : 49192, Cairo
Issued Capital : £E 2,000,000
Paid up Capital : £E 2,000,000
Name of Shareholder
(s)
·
Dr
Bahaa Eddine Ismail Mohamed Rafaat
·
Khalid
Bahaa Eddine Ismail Mohamed Rafaat
·
Ismail
Eddine Ismail Mohamed Rafaat
AFFILIATED COMPANIES
·
Egyptian
Knitting Co (ETC)
Industrial Area, Amal No.1, Al Khanka, El
Kaloubiya
Cairo
Tel: (20-2) 49871374
Fax: (20-2) 44695588
OPERATIONS
Activities: Engaged in the manufacture of clothing items,
including T shirts, polo shirts, pyjamas and underwear.
Subject is ISO 9001 accredited.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 250 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)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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.44.99 |
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UK Pound |
1 |
Rs.72.60 |
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Euro |
1 |
Rs.64.01 |
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.