MIRA INFORM REPORT

 

 

Report Date :           

14.01.2012

 

IDENTIFICATION DETAILS

 

Name :

ELNIZAMIA CO FOR INDUSTRY & TRADE

 

 

Registered Office :

83 Noaman El Aasar Street, Gharbeya, Mehalla Kubra

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1998

 

 

Com. Reg. No.:

11602

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Manufacturers of household textiles, including bed spreads, towels and kitchen  fabrics

 

 

No. of Employees :

75

 

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$ 500,000

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 – 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                                     : ELNIZAMIA CO FOR INDUSTRY & TRADE

Country of Origin                                    : Egypt

Legal Form                                            : General Partnership

Registration Date                                   : 1998

Commercial Registration Number            : 11602

Industry Registration Number                  : 46110

Partners Capital                                     : £E 4,000,000

Total Workforce                                     : 75

Activities                                               : Manufacturers of household textiles, including bed spreads, towels and

                                                              kitchen  fabrics.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 500,000

 

COMPANY NAME

 

ELNIZAMIA CO FOR INDUSTRY & TRADE

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 83 Noaman El Aasar Street

Area                 : Gharbeya

Town                 : Mehalla Kubra

Country             : Egypt

Telephone         : (20-40) 2237442 / 2230319

Facsimile          : (20-40) 2237462

Mobile               : (20-122) 2267408

 

Premises

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Mehalla Kubra.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Hassan Ibrahim Abd El Wahed Abdallah                                             Managing Partner

 

·       Mohamed Ibrahim Abd El Wahed Abdallah                                          Partner

 

·       Mohamed Samir                                                                                Finance Manager

 

·       Adel Salam Mohamed                                                                       Factory  Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1998

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 11602

 

Industry Reg. No.         : 46110

 

Partners Capital           : £E 4,000,000

 

Name of Partner (s)                                                             Percentage

 

·       Hassan Ibrahim Abd El Wahed Abdallah                                 50%

 

·       Mohamed Ibrahim Abd El Wahed Abdallah                              50%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of household textiles, including bed spreads, towels and kitchen  fabrics.

 

Export Countries: Israel, Greece, United Kingdom, France and Belgium.

 

Operating Trend: Steady

 

Subject has a workforce of 75 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 33,800,000                           £E 37,000,000

 

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

 

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

 

 

BANKERS

 

·       National Bank of Egypt

Abdel Hai Khalil Street

Mehalla Kubra

Tel: (20-40) 2230565 / 2245127

Fax: (20-40) 2234065

 

 

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 business 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.51.43

UK Pound

1

Rs.79.10

Euro

1

Rs.66.17

 

 

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.