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Report Date : |
11.07.2012 |
IDENTIFICATION DETAILS
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Name : |
COATS |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
574293, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and dyeing of polyester sewing threads for readymade garments |
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No. of Employees : |
200 |
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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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 |
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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 |
Company Name :
COATS
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1994
Commercial Registration Number : 574293, Cairo
Issued Capital : £E 10,807,000
Paid up Capital : £E 10,807,000
Total Workforce : 200
Activities : Manufacture and dyeing of polyester sewing threads for readymade
garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COATS EGYPT
Registered &
Physical Address
Building : Sheraton Buildings
Street : 6 Adib Ali Adham Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22675196
Facsimile : (20-2) 22675196
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
12
Abdallah Daraz Street Office
premises
Nasr City
Cairo
·
3B
Industrial Zone, Plot 78 Factory
premises
10th of Ramadan
Sharkeya
Tel: (20-15) 369357 / 369356 / 363213
Fax: (20-15) 369355 / 369357
Name Position
·
Aftab
Mohamed Chairman
·
Wael
Diab Finance
Manager
·
Richard
Farah Production
Manager
·
Mohamed
Khalaf Export
Manager
·
Hossam
Shehata IT
Manager
Date of Establishment : 1994
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 574293, Cairo
Issued Capital : £E 10,807,000
Paid up Capital : £E 10,807,000
Name of Shareholder
(s) Percentage
·
G &
P 99.0%
United Kingdom
·
Coats
Total
0.5%
United Kingdom
·
Coats
Finance
0.5%
United Kingdom
Activities: Engaged in the manufacture and dyeing of
polyester sewing threads for readymade garments.
Import
Countries: India, Germany
and the United States of America.
Export
Countries: Kenya, Jordan
and Syria.
Brand Names: COATS EGYPT
Operating Trend: Steady
Subject has a
workforce of approximately 200 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 38,000,000 £E 41,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
du Caire Barclays Internationale SAE
12 Midan El Sheikh Youssef Street
Garden City
PO Box: 110, Maglis El Shaab
Cairo
Tel: (20-2) 33542195 / 33549415 / 33549422
Fax: (20-2) 33552746
·
BNP
Paribas
Nile City Building
North Tower
Ground Floor
Nile City
Cairo
Tel: (20-2) 24619085
Fax: (20-2) 24619082
No complaints
regarding subject’s payments have been reported.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.81 |
|
UK Pound |
1 |
Rs.86.53 |
|
Euro |
1 |
Rs.68.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.