MIRA INFORM REPORT
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Report Date : |
16.03.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
O W HOSPITALITY LTD |
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Formerly Known As : |
Cambridge Weavers Ltd |
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Registered Office : |
Cairo Ismaila
Road, 10th Ramadan City |
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Country : |
Egypt |
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Year of Establishment : |
2003 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Manufacture of woven axminister carpets |
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No. of Employees
: |
300 |
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$ 250,000 |
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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 : O W HOSPITALITY LTD
Country of Origin : United Kingdom
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 2003
Total Workforce : 300
Activities : Manufacture of woven axminister carpets
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
O W HOSPITALITY LTD
Registered &
Physical Address
Location : Cairo Ismaila Road
Town : 10th Ramadan City
Country : Egypt
Telephone : (20-15) 411137 / 411138
Facsimile : (20-15) 411136
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of 10th Ramadan City.
Branch Office (s)
Location Description
·
8
Zakaria Khalil Street Office
premises
PO Box: 2489
Cairo 11361
Tel: (20-2) 22672121
Fax: (20-2) 22672241
·
Al Safa
Tower Office
premises
Dubai
United Arab Emirates
Tel: (971-4) 3252921
Fax: (971-4) 3322151
Name Position
·
Mohamed
Farid Khamis Managing
Director
·
Islam
Ali General
Manager
·
Matthew
Jones Operations
Manager
·
Ahmed
Nour Eddine Sales
Manager
·
Mohamed
Lamy Commercial
Manager
·
Mahmoud
Jalal Marketing
Manager
·
Islam
El Gharabawi Sales
Manager
Date of Establishment : 2003
History :
Subject began in 2003 under
the name “Cambridge Weavers Ltd”. However in 2010 it
changed its name to “O W Hospitality Ltd”.
Legal Form :
Subject is the Egyptian
registered branch of O W Hospitality Ltd, a Limited Liability
Company incorporated in the United Kingdom.
O W Hospitality Ltd in Egypt,
operates as a Branch of a Foreign Registered Corporation with its
registered office located at the following address:
O W Hospitality Ltd
70 Salisbury Road
London NW6 6NU
United Kingdom
Tel: (44-207) 6045000
A Branch of a Foreign
Registered Corporation is not a legal entity in its own right.
Responsibility for payments lays
in the hands of the company where it is originally
registered. It is basically an
extension of an existing company abroad and does not require a local partner or
sponsor.
Under these circumstances, we
strongly advise that any international trade credit should
only be written under the name
of the main company where the subject holds its registered office, in this case
the United Kingdom.
Activities: Engaged in the manufacture of woven
axminister carpets.
Import
Countries: India
Subject has a
workforce of approximately 300 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.
·
Export
Development Bank of Egypt
1st District Centre
Sharkeya
10th of Ramadan City
Tel: (20-15) 367203
Fax: (20-15) 362638 / 362639
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 |
|
UK Pound |
1 |
Rs.78.64 |
|
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.