MIRA INFORM REPORT
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Report Date : |
16.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ISLAMIC WEAVING AND PLASTIC CO |
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Registered Office : |
88 Mecca Street, El
Rekaba El Edaria, Hadayek El Qobba, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
13.06.1991 |
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Com. Reg. No.: |
46217 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of plastic and the export of raw cotton |
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No. of Employees
: |
45 |
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$ 150,000 |
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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
|
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 |
Company Name : ISLAMIC WEAVING AND PLASTIC CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 13th June 1991
Commercial Registration Number : 46217
Tax Card Number : 200-179-888
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 45
Activities : Manufacturers of plastic and the export of raw cotton.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
ISLAMIC WEAVING AND PLASTIC CO
Registered &
Physical Address
Street : 88 Mecca Street
Area : El Rekaba El Edaria, Hadayek
El Qobba
Town : Cairo
Country : Egypt
Telephone : (20-2) 26033064 / 22563232 / 22562121
Facsimile : (20-2) 26033062
Mobile : (20-188) 1209209
Email : malek@iwpc-cotton.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
Obour
City Warehouse
premises
·
Shubra El Khaimah Factory
premises
Name Position
·
Said Ali Malek Managing
Partner
·
Ahmed Said Ali Malek Partner
·
Mohamed Said Ali Malek Partner
·
Said Amer Hassanian Financial
Controller
·
Mohamed Abd Samee Administration
Secretary
Date of Establishment : 13th
June 1991
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 46217
Tax Card No. : 200-179-888
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of
Shareholder (s)
·
Said Ali Malek
·
Ahmed Said Ali Malek
·
Mohamed Said Ali Malek
Activities: Engaged in the manufacture of plastic and
the export of raw cotton.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 45 employees.
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
14,270,000 £E
14,590,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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.50.22 |
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UK Pound |
1 |
Rs.78.64 |
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Euro |
1 |
Rs.65.54 |
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.