MIRA INFORM REPORT
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Report Date : |
19.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ORIENTAL WEAVERS INTERNATIONAL SAE |
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Registered Office : |
Oriental Weavers Building, 8 Zakaria Khalil Street, Heliopolis, Cairo |
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Country : |
Egypt |
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Year of Establishment : |
1999 |
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Com. Reg. No.: |
1648 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and export of carpets, rugs polypropylene and polyester yarns |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 2,000,000 |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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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 30th, 2011
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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 : ORIENTAL WEAVERS INTERNATIONAL SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1999
Commercial Registration Number : 1648
Authorised Capital : £E 150,000,000
Issued Capital : £E 135,752,000
Paid up Capital : £E 135,752,000
Total Workforce : 3,200
Activities :
Manufacture and export of carpets, rugs polypropylene
and polyester
yarns.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 2,000,000
COMPANY NAME
ORIENTAL WEAVERS INTERNATIONAL SAE
company ADDRESS
Registered & Physical
Address
Building : Oriental Weavers Building
Street : 8 Zakaria Khalil Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22672121
/ 22677515 / 22678226 / 22678225
Facsimile : (20-2) 22672241 / 22678000 / 22678240
/ 22931217
Mobile : (20-10) 1696702
Email : owi@internetegypt.com
Premises
Subject operates
from a large suite of offices that are owned and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
Plot
A1, Third Industrial Zone Owned
factory premises
Sharkeya
Tenth of Ramadan City
Tel: (20-15) 410811 / 412582 /
411137 / 411138 / 366666
Fax: (20-15) 411136 / 412081 /
364498
KEY PRINCIPALS
Name Position
·
Salah Abd El Aziz Chairman
·
Mahmoud Fawzy Khamis Director
·
Farida Mohamed Farid Khamis Director
·
Yasmine Mohamed Farid Khamis Director
·
Mohamed Mahmoud Khamis Director
·
Amr Mamoud Fawzi Khamis Director
·
Kamal Ali Mahmoud El Raei Director
·
Mohamed
Mohamed Shabaan Farag Director
·
Mohamed Qatary Director
·
Mahmoud
Reda Abd El Baqi Director
·
Ahmed
Beshr Director
·
Mohamed
Abd El Rahman El Sharkawy Director
·
Arafat
El Mahdy Alewa Director
·
Mahmoud
Amin Saad Director
·
Wahid
Abd El Ghaffar Director
·
Hassan
Hashash Director
·
Abd El
Hamid Fayed General
Manager
·
Mahmoud
Amin Marketing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1999
History : At the end of 2007 subject merged with
“Oriental Weaver Carpet Technology Center”.
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 1648
Authorised
Capital : £E 150,000,000
Issued Capital : £E 135,752,000
Paid up Capital : £E 135,752,000
Name of Shareholder
(s) Percentage
·
Oriental Weavers For Carpets SAE 98.96%
Oriental Weavers Building
8 Zakaria Khalil Street
Heliopolis
Cairo
Tel: (20-2) 22672121 /
22678226 / 22678225
Fax: (20-2) 22672241 /
22678240
Email: info@orientalweavers.com
·
Oriental Weavers Fibers 0.98%
Osman Moharam Street
First Industrial Zone A1
Sharkeya
Tenth of Ramadan City
Tel: (20-15) 410167 / 410168 / 410169
Fax: (20-15) 410166
·
Mohamed Farid Khamis 0.05%
·
Farida Mohamed Farid Khamis 0.01%
AFFILIATED COMPANIES
Subject is a member of the Oriental Weavers Group, which consists of the
following concerns:
·
Misr
American Carpets Mills (MAC)
28 Sherif Street
PO Box: 3163
Cairo
Tel: (20-2) 33928380 / 33938864
Fax: (20-2) 33931217
Email: intlmktg@maccarpet.com
·
Oriental
Weavers for Urban Development
Oriental Weavers Building
Airport Area, Heliopolis
Cairo
Tel: (20-2) 22671716 / 22671718
/ 22675351
Fax: (20-2) 22672248
·
Safa
Industries Group
Industrial Zone B1
El Horreya Street
Sharkeya
PO Box: 69, El Asher
Tenth of Ramadan City
Tel: (20-15) 361969
Fax: (20-15) 363069
·
Egyptian
Fibres EFCO
1st Industrial Zone A1, Area No.
IIA
Osman Moharam Street
Sharkeya
PO Box: 188, El Asher
Tenth of Ramadan City
Tel: (20-15) 362287 / 362288
Fax: (20-15) 362286
·
Tenth
of Ramadan Spinning Industries SAE
Industrial Zone A1, Area No. 3/3
Sharkeya
Tenth of Ramadan City
Tel: (20-15) 363748
Fax: (20-15) 363746
·
Oriental
International Trade
El Horreya Street
Industrial Zone B1, Area IXB
Sharkeya
Tenth of Ramadan City
Tel: (20-15) 364703
Fax: (20-15) 364703
·
Seta
Egypt SAE
·
Modern
Carpet
Industrial Zone B1, Block No. VII
Osman Ibn Afan Street
Sharkeya
Tenth of Ramadan City
Tel: (20-15) 366666
Fax: (20-15) 364498
OPERATIONS
Activities: Engaged in the manufacture and export of
carpets, rugs, polypropylene and polyester yarns.
Import
Countries: Middle East and
Europe.
Export
Countries: United States of
America, Europe and Libya.
Subject has a
workforce of approximately 3,200 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
·
Export
Development Bank of Egypt
1st District Centre
Group D
Sharkeya
10th of Ramadan City
Tel: (20-15) 367203
Fax: (20-15) 362638 / 362639
·
National
Bank of Egypt
Sharkeya Branch
Tenth of Ramadan City
Tel: (20-15) 360833 / 360744 / 344144
·
Suez
Canal Bank
14 Wadi El Nile Street
Nahda Square
Maadi
PO Box: 249
Cairo
Tel: (20-2) 33582681
Fax: (20-2) 33582274
·
Egyptian
Gulf Bank
El Orman Plaza Building
8-10 Ahmed Nessim Street
PO Box: 56
Cairo
Tel: (20-2) 33606580 / 33606467
Fax: (20-2) 33420265 / 33606512
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
Date of
transaction April
2009
Credit amount 1,000,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
GENERAL COMMENTS
Oriental Weavers
International is very well established in the local market specialising in the manufacture and
export of carpets, polypropylene and polyester yarns.
Subject is run in a professional manner and is a member of the Oriental Weavers Group, which enjoys an
excellent reputation for the quality of its work.
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.51.35 |
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UK Pound |
1 |
Rs.80.97 |
|
Euro |
1 |
Rs.68.26 |
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.