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Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SAMAKIA FOR
COTTON WEAR |
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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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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
342665 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of
cotton underwear for ladies, men and children |
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No. of Employees : |
1,300 |
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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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 30, 2011
|
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 : SAMAKIA FOR COTTON WEAR
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 1996
Commercial
Registration Number : 342665
Invested Capital : £E
7,000,000
Total Workforce : 1,300
Activities :
Manufacture of cotton underwear for ladies, men and children
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
SAMAKIA FOR COTTON
WEAR
Street : 4 Misr Ismailia Road
Area : Industrial Area
Town : Cairo
Country : Egypt
Telephone : (20-2) 26989040 / 26989041
Facsimile : (20-2) 26989040 / 26989041
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Cairo.
Branch Office
(s)
Location Description
·
20
Baghdad Street Office
premises
Al Korba, Heliopolis
Tel: (20-2) 26908726
·
28
Rabaa Investment Building Office premises
Al Nozha Street
Heliopolis
Tel: (20-12) 5566161
·
Masaken
Sheraton Office
premises
45 Said Zakareya
Heliopolis
·
Genena
Mall, 3rd Floor Office
premises
20 Btrawy Street
Nasr City
Tel: (20-2) 24030096
·
9 Al
Obour Buildings Office
premises
Salah Salem Road
Nasr City
Tel: (20-10) 2597273
·
15
Abbass El Akkad Street Office
premises
Nasr City
Tel: (20-2) 24021085
·
5
Brazil Street Office
premises
Zamalek
Tel: (20-2) 27383840
Name Position
·
Bassel
Samakia Proprietor
& General Manager
·
Atef El
Agouza Finance
Manager
·
Mohamed
Eissa Factory
Manager
·
Omar
Samakia Administration
Manager
Date of Establishment : 1996
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 342665
Invested Capital
: £E 7,000,000
Mr Bassel Samakia
is the sole proprietor of the business.
Activities: Engaged in the manufacture of cotton underwear
for ladies, men and children.
Export
Countries: France, Spain,
Lebanon, Saudi Arabia, United Arab Emirates and Libya.
Brand Names: COTONILE
Operating Trend: Steady
Subject has a
workforce of approximately 1,300 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 65,000,000 £E 80,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
·
Citibank
PO Box: 188
Cairo
Tel: (20-2) 33551877 / 33551874
Fax: (20-2) 33558056
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 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.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.