MIRA INFORM REPORT

 

 

Report Date :           

30.09.2011

 

IDENTIFICATION DETAILS

 

Name :

ALEXANDRIA CLOTHING SAE

 

 

Registered Office :

3rd Industrial Zone, Plot 11 & 12, Block No. 20, Borg El Arab, Amreya, Alexandria

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1993

 

 

Com. Reg. No.:

135400, Alexandria

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers and dyers of clothing items

 

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$ 1,000,000

 

 

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

 

SUMMARY

 

Company Name                         : ALEXANDRIA CLOTHING SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1993

Commercial Registration Number            : 135400, Alexandria

Tax Card Number                                   : 202-500-748

Issued Capital                                        : £E 19,000,000

Paid up Capital                                      : £E 19,000,000

Total Workforce                                     : 800

Activities                                               : Manufacturers and dyers of clothing items.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 1,000,000

 

 

 

COMPANY NAME

 

ALEXANDRIA CLOTHING SAE

 

 

company ADDRESS

 

Registered & Physical Address

Location            : 3rd Industrial Zone, Plot 11 & 12, Block No. 20

Area                 : Borg El Arab, Amreya

Town                 : Alexandria

Country             : Egypt

Telephone         : (20-3) 4593151 / 4593252 / 4593300 / 4593454

Facsimile          : (20-3) 4593151 / 4592701 / 4592702

Mobile               : (20-12) 2159843

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       30 Gizirat El Arab Street                                                                    Office premises

Mohandessin, Giza

Cairo

 

·       445 Canal El Mahmoudia Street                                                         Office premises

Nozha

Smouha

Alexandria

 

·       Central El Betash Street                                                                    Showroom premises

Bianky

Alexandria

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Sherif Mahmoud Zohdy                                                                      Chairman

 

·       Alaa Mohamed Amin Balbaa                                                              Managing Director

 

·       Alaa Ahmed Moltazam Ahmed                                                           Director

 

·       Mahmoud Zohdy                                                                               Director

 

·       Reda Eissa                                                                                       Finance Manager

 

·       Medhat Gabriel                                                                                 Sales Manager

 

·       Mohamed Hossam                                                                            Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1993

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 135400, Alexandria

 

Tax Card No.               : 202-500-748

 

Issued Capital              : £E 19,000,000

 

Paid up Capital            : £E 19,000,000

 

Name of Shareholder (s)                                          Percentage

 

·       Commercial International Bank                                   34.64%

 

·       Sherif Mahmoud Zohdy                                              32.68%

 

·       Mahmoud Zohdy                                                       32.68%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and dyeing of clothing items.

 

                 Subject manufactures 260 tons per year.

 

Import Countries: India, Switzerland, Germany, Israel and the United Kingdom.

 

Export Countries: France, Spain, Netherlands, Canada and the United States of America.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 800 employees.

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                £E 139,000,000                         £E 142,876,335

 

Local sources consider subject’s financial condition to be Good.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial International Bank (CIB)

61 Sultan Hussein Street

Alexandria

Tel: (20-3) 4824643 / 4834255

Fax: (20-3) 4832240

 

 

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.48.93

UK Pound

1

Rs.76.52

Euro

1

Rs.66.65

 

 

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%)

 

 

 

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