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Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MASTERBED MANUFACTURING CO SAE |
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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 : |
1999 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of spring coil mattresses and bedding |
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No. of Employees : |
160 |
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) |
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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 : MASTERBED MANUFACTURING CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1999
Issued Capital : £E 3,500,000
Paid up Capital : £E 3,500,000
Total Workforce : 160
Activities : Manufacturers of spring coil mattresses and bedding.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MASTERBED MANUFACTURING CO SAE
Registered &
Physical Address
Street : 45
Shehab Street, 2nd Floor
Area : Mohandessin,
Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 33446814
/ 33446815 / 33444715
Facsimile : (20-2) 33448133
Mobile : (20-100) 1015317 / (20-122) 3696485
Email : masterbed@thewayout.net
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
·
3rd Industrial Zone Owned
factory premises
6th
of October City
Tel: (20-2)
38320264
Fax: (20-2)
38320266
Name Position
·
Salah El Basousy Chairman
·
Antoine Mossad Managing
Director
·
Ibrahim Hassan Director
·
Dory Bejjani Marketing
Manager
·
Tarek Said Production
Manager
Date of Establishment : 1999
Legal Form :
Egyptian Joint Stock
Company
Authorised
Capital : £E 10,000,000
Issued Capital : £E
3,500,000
Paid up Capital : £E 3,500,000
Name of Shareholder
(s) Percentage
·
Expend Holding 65%
Lebanon
·
Ibrahim Hassan 25%
·
Salah El Basousy 10%
Activities: Engaged in the
manufacture of spring coil mattresses, upholstered bed bases and headboards, as
well as pillow cases, classic and fibre pillows, mattress covers, and pillows
for children protection.
Subject
is ISO 9002 certified
Import
Countries: Belgium and the
United Kingdom
Export
Countries: Greece, Canada, Uganda, Kenya, Lebanon, Kuwait, Iraq, and
Qatar
Brand Names: MASTERBED
Operating Trend: Steady
Subject has a workforce
of 160 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 27,000,000 £E 29,000,000
Local sources consider
subject’s financial condition to be Fair.
·
National Societe Generale Bank
9 Gamaet El Dewal El Arabeya
Street
Mohandeseen, Giza
Cairo
Tel: (20-2) 33003700
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.29 |
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UK Pound |
1 |
Rs.88.26 |
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Euro |
1 |
Rs.70.82 |
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 |
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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.