MIRA INFORM REPORT

 

 

Report Date :           

20.05.2011

 

IDENTIFICATION DETAILS

 

Name :

EL HELAL KNITTING FACTORY

 

 

Registered Office :

Ezbet Salam, Kobry El Namous, Bakous, Moharam Bey, Alexandria

 

 

Country :

Egypt

 

 

Date of Incorporation :

01.04.1975

 

 

Com. Reg. No.:

83809, Alexandria

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacturers of T-shirts, sportswear and pyjamas.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 750,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

SUMMARY

 

Company Name                                     : EL HELAL KNITTING FACTORY

Also Known As                                      : MOHAMED IBRAHIM ABD EL FATTAH & CO

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 1st April 1975

Commercial Registration Number            : 83809, Alexandria

Industrial Licence Number                       : 2141

Issued Capital                                        : £E 5,000,000

Paid up Capital                                      : £E 5,000,000

Total Workforce                                     : 225

Activities                                               : Manufacturers of T-shirts, sportswear and pyjamas.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 750,000

Person Interviewed                                 : Alaa Eddine Abdul Moniem, Finance Manager

 

 

 

 

COMPANY NAME

 

EL HELAL KNITTING FACTORY

 

 

ALSO KNOWN AS

 

MOHAMED IBRAHIM ABD EL FATTAH & CO

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Ezbet Salam, Kobry El Namous, Bakous

Area                 : Moharam Bey

Town                 : Alexandria

Country             : Egypt

Telephone         : (20-3) 5033340 / 5028495

Facsimile          : (20-3) 5022409

Mobile               : (20-12) 7550696

Email                : info@elhelal-egypt.com / helal_knittingfactory@yahoo.com

 

Premises

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Alexandria.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Ibrahim Mohamed Abd El Fattah                                         Managing Partner

 

·       Susan Ahmed Abdul Moniem                                                             Partner

 

·       Bassam Bahr                                                                                    General Manager

 

·       Alaa Eddine Abdul Moniem                                                                Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st April 1975

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 83809, Alexandria

 

Trade Licence No.       : 2141

 

Issued Capital              : £E 5,000,000

 

Paid up Capital            : £E 5,000,000

 

Name of Shareholder (s)

 

·       Mohamed Ibrahim Mohamed Abd El Fattah

 

·       Susan Ahmed Abdul Moniem

 

 

AFFILIATED COMPANIES

 

·       El Helal Knitting Factory

Kafr El Dawar

El Beheira

Tel: (20-45) 2246996
Fax: (20-45) 9567675

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of T-shirts, sportswear and pyjamas.

 

Import Countries: Europe and the Far East.

 

Clients:

 

·       Lolly Togs Ltd                       United States of America

·       Skiva International Inc            United States of America

·       Stretch-o-Rama Inc               United States of America

·       New Rochelle                        United States of America

 

Subject has a workforce of approximately 225 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

 

·       Bank of Alexandria

19 Salah Salem Street

El Gomrok, Mansheya

Alexandria

Tel: (20-3) 4827995

 

 

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.44.98

UK Pound

1

Rs.72.68

Euro

1

Rs.64.16

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.