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Report No. : |
344060 |
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Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAZAREEN TEXTILE
COMPANY SAE (KTC) |
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|
|
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Registered Office : |
4th Industrial Zone, Plot 93/1 & 92 16th October City, Giza Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
12.07.2004 |
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Com. Reg. No.: |
11551, Cairo |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Subject is
engaged in the manufacture of men’s, women’s and children’s clothing and work
uniforms. |
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No. of Employee : |
2,650 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company Name : KAZAREEN
TEXTILE COMPANY SAE (KTC)
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 12th
July 2004
Commercial
Registration Number : 11551,
Cairo
Tax Card Number : 591-931-982
Authorised Capital : £E
100,000,000
Issued Capital : £E
63,753,600
Paid up Capital : £E
63,753,600
Total Workforce : 2,650
Activities :
Manufacturers of clothing and uniforms.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
KAZAREEN TEXTILE
COMPANY SAE (KTC)
Location : 4th Industrial Zone, Plot 93/1
& 92
Area : 16th October City, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 8332959 / 37626652 / 37626651
/ 37615236 / 6691613
Facsimile : (20-2) 8332959 / 37490895
Mobile : (20-100) 1635477 / 1634742
Email : kazareen@kazareen.net
Subject operates from
a large suite of offices and a factory that are owned and located in the
Industrial Area of Cairo.
Branch Office
(s)
Location Description
·
3rd
Industrial Zone Warehouse
premises
10th Ramadan City
Sharkeya
Name Position
·
Saleh
Mohamed Awad Bin Laden Chairman
·
Al
Moatz Wassef Al Swaf Vice
Chairman
·
Omar
Youssef Gerges Managing
Director
·
Mohamed
Nagib Ramadan General
Manager
Date of Establishment : 12th
July 2004
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 11551, Cairo
Tax Card No. : 591-931-982
Authorised
Capital : £E 100,000,000
Issued Capital : £E 63,753,600
Paid up Capital : £E 63,753,600
·
Saleh
Mohamed Awad Bin Laden 51%
·
Al
Moatz Wassef Al Swaf 30%
·
Local
businessmen and private investors 19%
·
Canaren
Canada
·
Canaren
India
·
Canaren
Bangaldesh
·
Casareen
France
·
Zarina
Activities: Engaged in the manufacture of men’s,
women’s and children’s clothing and work uniforms.
Production Capacity: 7,000,000 pieces per year
Import
Countries: Europe and the
Far East.
Brand Names: ZARINA and CAJ
Operating Trend: Steady
Subject has a
workforce of approximately 2,650 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 68,800,000 £E 75,000,000
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.65.02 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.