|
Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
AKTAN MISR TEXTILE & DYEING CO SAE |
|
|
|
|
Formerly Known As : |
NASR MOHAMED MOHAMED AL SEHELY & PARTNERS AKTAN MISR |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
1956 |
|
|
|
|
Com. Reg. No.: |
22213, Gharbeya |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and export of terry cloth and products. |
|
|
|
|
No. of Employees : |
1,500 |
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 |
|
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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : AKTAN MISR TEXTILE & DYEING CO SAE
Also Known As : NASR MOHAMED MOHAMED AL SEHELY & PARTNERS
AKTAN MISR
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Start Date : 1956
Registration Date : 17th June 2002
Commercial Registration Number : 22213, Gharbeya
Industrial Registration Number : 34744
Tax Card Number : 205-147-712
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Total Workforce : 1,500
Activities : Manufacture and export of terry cloth and products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abd El Wahab Shalaby, General Manager
AKTAN MISR TEXTILE & DYEING CO SAE
ALSO KNOWN AS: NASR MOHAMED
MOHAMED AL SEHELY & PARTNERS
AKTAN MISR
Street : Nouman El
Assar Street
Area : New Industrial
Zone
PO Box : 250
Town : El Mahalla
El Koubra 31911
Province : Gharbeya
Country : Egypt
Telephone : (20-40) 2441596
/ 2441597 / 2441599
Facsimile : (20-40)
2441179
Email : sehely@sehely.com
Please note that the above address is correct. Subject had no knowledge
of El Gameia El Khayria Street in El Mahalla El Koubra.
Subject operates from a suite of offices and production facilities
covering an area of 28,400 square metres that are owned and located in the
Industrial Area of El Mahalla El Koubra.
Name Position
· Nasr Mohamed Ali
El Sehely Chairman
· Abd El Wahab
Shalaby General
Manager
· Ali Attiya Finance
Manager
· Abd El Hakim Yassin
Ahmed Galwish Export
Manager
· Mohamed El
Metwally Public
Relations Manager
· Mohamed Ezzat Administration
Executive
Date of
Establishment : Subject was
established in 1956 and commercial operations began in 1958. Subject was registered
on 17th June 2002.
History : Subject was
originally called “El Sehely for Textiles & Dyeing Company” but changed its
name to “Aktan
Misr Textile & Dyeing Co SAE” in March 2010.
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 22213, Gharbeya
Industrial Reg.
No. : 34744
Tax Card No. : 205-147-712
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
· Nasr Mohamed Ali
El Sehely 50%
· Hesham Nasr Mohamed
Ali El Sehely 10%
· Hazem Nasr Mohamed
Ali El Sehely 10%
· Doha Nasr Mohamed
Ali El Sehely 10%
· Salma Nasr Mohamed
Ali El Sehely 10%
· Gehan Hussein
Mohamed Sadek 5%
· Mariam Nasr
Mohamed Ali El Sehely 5%
Activities: Engaged in the manufacture and export of terry cloth and products
including towels, bed covers, and bath robes. Subject also operates a dyeing
factory specialising in the dyeing of yarns.
On
22nd July 2004, the company was certified by ASR as an ISO-9000
manufacturer.
Production Capacity: 7,000 Beach
towels per day
6,500 Bath
towels per day
4,000 Kitchen
towels per day
1,500 Bathrobe per
day
Import Countries: Italy and India
Export Countries: Saudi Arabia, Germany, Italy, France, United
Kingdom, Spain, Romania, and Australia
Operating Trend: Steady
Subject has a workforce of approximately 1,500 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
75,500,000 £E
78,154,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Abd El Wahab Shalaby, General
Manager
·
Faisal Islamic Bank of Egypt
2 Mohamed Said
Pacha Street
Tanta
Gharbeya
Tel: (20-40)
3287985
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.56.92 |
|
|
1 |
Rs.88.91 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.