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Report Date : |
18.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
QUEEN COATING CO
SAE |
|
|
|
|
Registered Office : |
Industrial Zone, Part
2, Plot No. 3/19, Damietta, |
|
|
|
|
Country : |
Egypt |
|
|
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Date of Incorporation : |
02.05.2010 |
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Com. Reg. No.: |
45493, Damietta |
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|
|
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Legal Form : |
Egyptian Joint
Stock Company |
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|
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Line of Business : |
Manufacturers of decorative and industrial paints, emulsion, car
paint, finishing materials and ink. |
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|
|
|
No. of Employees : |
45 |
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$ 250,000 |
|
Status : |
Satisfactory |
|
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 30, 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 |
Company Name : QUEEN COATING CO SAE
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 2nd
May 2010
Commercial
Registration Number : 45493, Damietta
Tax Card Number : 339-845-643
Issued Capital : £E
7,000,000
Paid up Capital : £E
7,000,000
Total Workforce : 45
Activities :
Manufacturers of decorative and industrial paints, emulsion, car paint,
finishing materials and ink.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 250,000
Person Interviewed : Hamdy
Abdulrahman, Purchasing Manager
QUEEN COATING CO
SAE
Location : Industrial Zone, Part 2, Plot No.
3/19
Town : Damietta
Country : Egypt
Telephone : (20-57) 2410751 / 2410752 / 2410753
Facsimile : (20-57) 2410759
Mobile : (20-100) 1665365
Email : ahm.mamdouh@queen-coatings.com
/ hamdy@queen-coatings.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Damietta.
Name Position
·
Hassan Mohamed
Abu Taleb Managing
Director
·
Mohamed
Mohamed Hassan Abu Taleb Director
·
Ahmed
Hassan Mohamed Hassan Abu Taleb Director
·
Mohamed
Hassan Mohamed Hassan Abu Taleb Director
·
Sara
Hassan Mohamed Hassan Abu Taleb Director
·
Mirvat
Hassan Abu Taleb Director
·
Hamdy
Abdulrahman Purchasing
Manager
·
Mohamed
Farooq Administration
Manager
·
Ahmed
El Manzalawi Operations
Manager
·
Ahmed
Mamdouh Factory
Manager
Date of Establishment : 2nd
May 2010, production began in 2011
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 45493,
Damietta
Tax Card No. : 339-845-643
Issued Capital : £E 7,000,000
Paid up Capital : £E 7,000,000
·
Hassan
Mohamed Abu Taleb
·
Mohamed
Mohamed Hassan Abu Taleb
·
Ahmed
Hassan Mohamed Hassan Abu Taleb
·
Mohamed
Hassan Mohamed Hassan Abu Taleb
·
Sara
Hassan Mohamed Hassan Abu Taleb
·
Mirvat
Hassan Abu Taleb
Activities: Engaged in the manufacture of decorative and
industrial paints, emulsion, car paint, finishing materials and ink.
Import
Countries: Europe and the
Far East.
Brand Names: QUEEN
Subject has a
workforce of 45 employees.
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.
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
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.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.