MIRA INFORM REPORT
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Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
AL MASRYA FOR COTTON TRADING AND EXPORT SAE |
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Registered Office : |
8 El Obour
Building, Salem Street, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.03.2004 |
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Com. Reg. No.: |
10960, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of cotton yarns, twists and fabrics |
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No. of Employees
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15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 300,000 |
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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 – 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 : AL MASRYA FOR COTTON TRADING AND EXPORT SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 21st March 2004
Commercial Registration Number : 10960, Cairo
Tax Card Number : 482-249-045
Issued Capital : £E 4,000,000
Paid up Capital : £E 4,000,000
Total Workforce : 15
Activities : Distributors of cotton yarns, twists and fabrics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
Person Interviewed : Emad El Mohamedi, Finance Manager
COMPANY NAME
AL MASRYA FOR COTTON TRADING AND EXPORT SAE
company ADDRESS
Registered &
Physical Address
Building : 8 El Obour Building
Street : Salem Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 24030171
Facsimile : (20-2) 24030171
Mobile : (20-111) 9882657
Email : emad_ad2001@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Sayed
Moustafa Darwish Moustafa Chairman
·
Fakhry
Adam Managing
Director
·
Hesham
Abdul Hamid Mohsin Director
·
Emad El
Mohamedi Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 21st
March 2004
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 10960, Cairo
Tax Card No. : 482-249-045
Issued Capital : £E 4,000,000
Paid up Capital : £E 4,000,000
Name of
Shareholder (s)
·
Sayed
Moustafa Darwish Moustafa
·
Fakhry
Adam
·
Hesham
Abdul Hamid Mohsin
·
Local
businessmen and private investors
OPERATIONS
Activities: Engaged in the import and distribution of
cotton yarns, twists and fabrics.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 15 employees.
FINANCIAL DATA
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 28,600,000 £E 33,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Emad El Mohamedi, Finance Manager
BANKERS
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.13 |
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UK Pound |
1 |
Rs.77.85 |
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Euro |
1 |
Rs.64.78 |
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.