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Report Date : |
14.08.2012 |
IDENTIFICATION DETAILS
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Name : |
EL MASAIED CLOTHING COMPANY |
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Registered Office : |
Industrial Zone
B3, Plot No. 85, Sharkeya, 10th of
Ramadan City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
894 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of men’s, women’s and children’s clothing |
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No. of Employees : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : EL MASAIED CLOTHING COMPANY
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1998
Commercial Registration Number : 894
Tax Card Number : 229-871-089
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Total Workforce : 500
Activities : Manufacturers of men’s, women’s and children’s clothing
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
EL MASAIED CLOTHING
COMPANY
Registered &
Physical Address
Location : Industrial Zone B3, Plot No. 85
Area : Sharkeya
Town : 10th of Ramadan
City
Country : Egypt
Telephone : (20-15) 374100 / 374103
Facsimile : (20-15) 374101
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of 10th of Ramadan City.
Name Position
·
Ali Massoud Managing
Partner
·
Mohamed
Ali Mohamed Massoud Partner
·
Sherif Ali
Mohamed Massoud Partner
·
Nermin Ali
Mohamed Massoud Partner
·
Omneya Ali
Mohamed Massoud Partner
·
Maher
Said Production
Manager
·
Eman Abdallah Wahdan Export
Manager
·
Khalil El Aidi IT
Manager
Date of Establishment : 1998
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 894
Tax Card No. : 229-871-089
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Name of Partner (s) Percentage
·
Mohamed
Ali Mohamed Massoud 33.33%
·
Sherif Ali
Mohamed Massoud 33.33%
·
Nermin Ali
Mohamed Massoud 16.67%
·
Omneya Ali
Mohamed Massoud 16.67%
Activities: Engaged in the manufacture of men’s,
women’s and children’s clothing.
Import
Countries: China, Hong Kong
and India.
Export
Countries: Mexico, Canada
and the United States of America.
Operating Trend: Steady
Subject has a
workforce of approximately 500 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales £E 19,168,000 £E 20,591,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Export
Development Bank of Egypt
1st District Centre
Group D
Sharkeya
10th of Ramadan City
Tel: (20-15) 367203
Fax: (20-15) 362638 / 362639
No complaints
regarding subject’s payments have been reported.
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.55.42 |
|
UK Pound |
1 |
Rs.86.78 |
|
Euro |
1 |
Rs.68.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
|
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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.