MIRA INFORM REPORT

 

 

Report Date :           

06.04.2012

 

IDENTIFICATION DETAILS

 

Name :

MISR EL AMRIA SPINNING & WEAVING SAE

 

 

Registered Office :

Km 23, Alexandria Cairo Desert Road, Petro Chemicals Road, Amreya, P O Box 546, Alexandria

 

 

Country :

Egypt

 

 

Year of Establishment :

1983

 

 

Com. Reg. No.:

107980, Alexandria

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of bed sheets, pillow cases, towels, bathrobes and table linen

 

 

No. of Employees :

7,200

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 7,000,000

 

 

Status :

Good

 

 

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                                     : MISR EL AMRIA SPINNING & WEAVING SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1983

Commercial Registration Number            : 107980, Alexandria

Authorised Capital                                  : £E 900,000,000

Issued Capital                                        : £E 608,137,580

Paid up Capital                                      : £E 608,137,580

Total Workforce                                     : 7,200

Activities                                               : Manufacturers of bed sheets, pillow cases, towels, bathrobes and table

                                                              linen.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 7,000,000

 

COMPANY NAME

 

MISR EL AMRIA SPINNING & WEAVING SAE

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Km 23, Alexandria Cairo Desert Road, Petro Chemicals Road

Area                 : Amreya

PO Box             : 546

Town                 : Alexandria

Country             : Egypt

Telephone         : (20-3) 2020126 / 2020127 / 2020128 / 2020129 / 2020130

Facsimile          : (20-3) 2020390 / 2020399 / 2020108 / 2020107

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       83 El Azhar Street                                                                             Office premises

Cairo

Tel: (20-2) 25129250

Fax: (20-2) 25127092

 

·       13 Salah Salem Street                                                                       Office premises

Alexandria

Tel: (20-3) 4863284 / 4834661

Fax: (20-3) 4868419

 

·       3 Malizia Street                                                                                 Office premises

Abbasseya

Cairo

 

·       52 Abo Dawood El Zahery Street                                                        Office premises

Nasr City

Cairo

 

·       5 El Sawy Street                                                                               Office premises

Nasr City

Cairo

 

·       214 Port Said Street                                                                          Office premises

Mounira

Cairo

 

·       22 Al Iraq Street                                                                                Office premises

Mohandessin

Cairo

      

·       480 El Zeraiyeen Tower Building                                                         Office premises

Ramleh

Alexandria

Tel: (20-3) 5879680

 

·       7 El Batrikea El Yonania                                                                    Showroom premises

Ramleh

Alexandria

 

·       Banque Misr Building                                                             Showroom premises

Ramleh

Alexandria

 

·       22 Omar Zaafan Street                                                                       Showroom premises

Ibrahimiah

Alexandria

 

·       192 Khalid Bin Al Walid Street                                                           Showroom premises

Sidi Bishr

Alexandria

 

·       65 Moharam Bey Street                                                                     Showroom premises

Alexandria

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Dr Mohamed Ilhamy Abd El Moneim                                                   Chairman

·       Ibrahim Mohamed Khalil                                                                     Director

·       Ibrahim Yassin                                                                                  Director & Legal Affairs Manager

·       Mahmoud Soliman                                                                            Director &  Finance Manager

·       Assem Ahmed Abd El Rehyem                                                          Director & Technical Manager

·       Hamed El Gendy                                                                               Director & Sales Manager

·       Wesal Moustafa Eyssa                                                                      Director & Confection Unit Manager

·       Ussama Abu Reeda                                                                          Director & Weaving Manager

·       Mohamed Kamal                                                                               Director & Spinning Manager

·       Mohamed Abass                                                                               Director & Product Stores Manager

·       Ibrahim Khodeir                                                                                 Director & Purchasing Manager

·       Mahasen Hassan                                                                              Director & Export Manager

·       Magdy Kamel Saleh                                                                          Director

·       Atef Mahmoud Mossad                                                                      Director

·       Saad Fouad                                                                                      Administration Manager

·       Ahmed Khodary                                                                                Purchasing Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1983

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 107980

 

Authorised Capital       : £E 900,000,000

 

Issued Capital              : £E 608,137,580

 

Paid up Capital            : £E 608,137,580

 

Name of Shareholder (s)                                           Percentage

 

·       Banque Misr                                                             100%

El Hanoville Street

Agami

Alexandria

Tel: (20-3) 4302697

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of bed sheets, pillow cases, towels, bathrobes and table linen.

 

                 Subject also provides embroidery and hemstitch services

 

     The company is ISO 9001 accredited.

 

Import Countries: Europe and India

 

Export Countries: United States of America, Australia, United Kingdom, France, Germany, Italy, Greece, Denmark,

                 Netherlands, New Zealand, Russia and Africa

 

Brand Names: AMRIA

 

Subject has a workforce of approximately 7,200 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

 

·       Banque Misr

El Hanoville Street

Agami

Alexandria

Tel: (20-3) 4302697

 

 

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.51.05

UK Pound

1

Rs.81.09

Euro

1

Rs.67.39

 

 

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.