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Report No. : |
344332 |
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Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
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Name : |
DAKAHLIA SPINNING & WEAVING CO SAE |
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Registered Office : |
Dekernes, Agha, Mansoura, PO Box 2, Dakahlia |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
15.09.1974 |
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Com. Reg. No.: |
44354 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the manufacture of cotton, spinning blended and weaving
yarns. |
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No. of Employees : |
2,300 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Egypt |
B2 |
B2 |
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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 :
DAKAHLIA SPINNING & WEAVING CO SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
15th September 1974
Commercial Registration Number :
44354, Cairo
Issued Capital :
£E 60,831,685
Paid up Capital :
£E 60,831,685
Total Workforce :
2,300
Activities :
Manufacturers of cotton, spinning blended and weaving yarns.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ibrahim Soliman, Finance Manager
DAKAHLIA SPINNING & WEAVING CO SAE
Registered &
Physical Address
Location : Dekernes,
Agha, Mansoura
PO Box : 2
Town : Dakahlia
Country : Egypt
Telephone : (20-50) 2245822
/ 2245811 / 2219367 / 2223745
Facsimile : (20-50)
2245835
Mobile : (20-111)
62276803 / (20-100) 6899289
Email : detex_22@hotmail.com
Premises
Subject operates from a large suite of offices, a factory and a
warehouse that are owned and located in the Industrial Area of Dakahlia.
Branch Offices
Location Description
Sandob Industrial Zone Factory
premises
Mansoura
Dakahlia
El Sekka Street Showroom
premises
Mansoura
Dakahlia
14 Saray El Azbakia Street Office
premises
Down Town
Cairo
11 El Nasr Street Office
premises
Alexandria
Name Position
Mohamed Abdel Hamid Essa Chairman
Naema El Said Vice
Chairman
Mohamed Mohamed El Said Managing
Director
Mostafa Essa Shaarawy Director
Ibrahim Soliman Finance
Manager
Date of Establishment : 15th
September 1974
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 44354, Cairo
Issued Capital : £E 60,831,685
Paid up Capital : £E 60,831,685
Name of
Shareholder (s) Percentage
The Holding Company for Cotton and Weaving 100%
Activities: Engaged in the manufacture of cotton, spinning blended and weaving
yarns.
Production
Capacity: 100,000 tons per year.
Import Countries: Europe and the United States of America.
Export Countries: Europe and GCC countries.
Brand Names: DETEX
Operating Trend: Steady
Subject has a workforce of approximately 2,300 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales £E
863,700,000 £E
871,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Ibrahim Soliman, Finance Manager
Ahli United Bank
Main Branch
Dakahlia
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.64.78 |
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1 |
Rs.99.54 |
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Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.