MIRA INFORM REPORT

 

 

Report Date :           

19.10.2011

 

IDENTIFICATION DETAILS

 

Name :

EL SAYYAD TRICOT CO

 

 

Registered Office :

49 Sakr Quraish Street, Masken Sheraton, Heliopolis, El Nuzha, Cairo

 

 

Country :

Egypt

 

 

Date of Incorporation :

15.04.1979

 

 

Com. Reg. No.:

11545

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacturers of yarn, tricot, T-shirts, pyjamas and underwear

 

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$ 150,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : EL SAYYAD TRICOT CO

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 15th April 1979

Commercial Registration Number            : 11545

Issued Capital                                        : £E 1,000,000

Paid up Capital                                      : £E 1,000,000

Total Workforce                                     : 220

Activities                                               : Manufacturers of yarn, tricot, T-shirts, pyjamas and underwear.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Ashraf Mohamed Ibrahim, Commercial Manager

 

 

 

COMPANY NAME

 

EL SAYYAD TRICOT CO

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 49 Sakr Quraish Street

Area                 : Masken Sheraton, Heliopolis, El Nuzha

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 22667875

Facsimile          : (20-2) 22665998 / 22669073

Mobile               : (20-122) 3292889

Email                : kemha65@yahoo.com

 

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

 

·       Damroo Street                                                                                  Factory premises

Mahalat El Borg

Mehalla El Kubra

Gharbeya

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Fouad El Sayyad                                                               Managing Partner

 

·       Mohamed Ehab El Mesairy                                                                Partner

 

·       Mahmoud Nabeel El Mesairy                                                              Partner

 

·       Ashraf Mohamed Ibrahim                                                                   Commercial Manager

 

·       Mohamed Maher                                                                               Purchasing Manager

 

·       Salwa Fouad El Sayyad                                                                     Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15th April 1979

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 11545

 

Issued Capital              : £E 1,000,000

 

Paid up Capital            : £E 1,000,000

 

Name of Shareholder (s)

 

·       Mohamed Fouad El Sayyad

 

·       Mohamed Ehab El Mesairy

 

·       Mahmoud Nabeel El Mesairy

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of yarn, tricot, T-shirts, pyjamas and underwear.

 

Import Countries: Europe and the Far East.

 

Brand Names: EL SAYYAD

 

Subject has a workforce of approximately 220 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

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.77.58

Euro

1

Rs.67.58

 

 

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.