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Report No. : |
345405 |
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Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
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Name : |
NOVATEX DYEING AND PREPARATION |
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Registered Office : |
2nd Industrial Zone, Area A2, Sharkeya, 10th of |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.01.1996 |
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Com. Reg. No.: |
978 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacturing, dyeing, finishing and printing of
fabrics. |
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No. of Employees : |
87 |
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 31, 2015
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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 :
NOVATEX DYEING AND PREPARATION
Country of Origin :
Egypt
Legal Form :
Limited Liability Partnership
Registration Date :
1st January 1996
Commercial Registration Number :
978
Industrial Registration Number :
176490
Issued Capital :
£E 500,000
Paid up Capital :
£E 500,000
Total Workforce :
87
Activities :
Manufacturing, dyeing, finishing and printing of fabrics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
NOVATEX DYEING AND PREPARATION
Registered &
Physical Address
Building : 2nd
Industrial Zone, Area A2
Area : Sharkeya
Town : 10th
of Ramadan City
Country : Egypt
Telephone : (20-15) 413268
/ 413269
Facsimile : (20-15) 413217
Mobile : (20-122)
2429315
Premises
Subject operates from a medium sized suite of offices, a factory and a
warehouse that are owned and located in the Industrial Area of 10th
of Ramadan City.
Name Position
Abdullah Abdullah El Boreey Managing
Partner
Abdel Hamid Abdel Hamid El Ghannam Partner
Date of Establishment : 1st
January 1996
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 978
Industrial Reg.
No. : 176490
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Partner
(s) Percentage
Abdullah Abdullah El Boreey 50%
Abdel Hamid Abdel Hamid El Ghannam 50%
Activities: Engaged in the manufacturing, dyeing, finishing and printing of
fabrics.
Import Countries: Europe and the Far East
Brand Names: NOVATEX
Operating Trend: Steady
Subject has a workforce of 87 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
7,000,000 £E
7,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Banque Misr
Main Branch
10th of Ramadan City
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.89 |
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1 |
Rs.100.39 |
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Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
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Analysis Done by
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KIN |
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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.