MIRA INFORM REPORT
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Report Date : |
23rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
AMOUN PHARMACEUTICAL CO SAE |
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Registered Office : |
125 El Hegaz Street Heliopolis, Cairo Egypt |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
255215,
Cairo |
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Legal Form : |
Egyptian
Joint Stock Company |
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Line of Business : |
Production
of chemicals and pharmaceuticals. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 2,500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AMOUN PHARMACEUTICAL CO SAE |
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Country of Origin |
Egypt |
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Legal Form |
Egyptian Joint Stock Company |
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Registration Date |
1989 |
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Commercial Registration Number |
255215, Cairo |
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Authorised Capital |
£E 500,000,000 |
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Issued Capital |
£E 200,000,000 |
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Paid up Capital |
£E 200,000,000 |
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Total Workforce |
1,900 |
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Line of Business |
Production of chemicals and pharmaceuticals. |
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Financial Condition |
Good |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AMOUN PHARMACEUTICAL CO SAE
ADDRESS
Registered & Physical Address
Street : 125 El Hegaz Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 6350719 / 6359609
Facsimile : (20-2) 2427683
Premises
Subject operates from a large suite of offices that are rented and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
Cairo-Ismalia Road, Km-76 Owned factory premises
First Industrial Zone
El Obour City
Cairo
Tel : (20-2) 4771177 / 4771188 / 4771101 / 4771044
Fax : (20-2) 4771299
KEY PRINCIPALS
Dr Sarwat Bassily Chairman
Wageih Sadek Administration Manager
Edward Kamel Finance Manager
LEGAL FORM & OWNERS
Date of Establishment : 1989
Legal Form : Societe Anonyme Egyptienne - SAE (Egyptian Joint
Stock Company)
Commercial Reg. No. : 255215, Cairo
Authorised Capital : £E 500,000,000
Issued Capital : £E 200,000,000
Paid up Capital : £E 200,000,000
Name of Shareholder (s)
Glaxo Wellcome Egypt SAE
Immobilia Building
26 Sherif Street
PO Box : 67 / 3001
Cairo
Tel : (20-2) 3921480 / 3929223
Fax : (20-2) 3934085
Egyptian businessmen and private investors
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe Anonyme
Egyptienne - SAE – should not be less than £E 500,000 if shares are offered to the public and £E 250,000 if not. If shares are offered to the public they are freely transferable, if not, transfer may be restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations : Engaged in the production of various chemicals,
including amines, raw materials for pharmaceuticals and parapharmaceutical
preparations, as well as aerosol bottles and containers.
Import Countries : France, Germany and Belgium.
Export Countries : The United States of America,
Romania, Russia, Kenya, Ethiopia and 14 Arab States.
Operating Trend : Steady
Subject has a workforce of approximately 1,900 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pound (£E)
Year Ending 31/12/03: Year Ending 31/12/04:
Total Revenue £E 258,571,000 £E 322,683,000
Net Profit £E 3,916,000 £E 53,031,000
Local sources consider subject’s financial condition to be Good.
Note: Results for the fiscal year 2005 are not yet
available
BANKERS
Banque du Caire SAE
22 Adly Street
PO Box : 1495
Cairo
Tel : (20-2) 3904554
Fax : (20-2) 3908992
Misr International Bank (MIBANK)
14, Alfy Street
PO Box : 631
Cairo
Tel : (20-2) 5931002
Fax : (20-2) 5912306
National Bank of Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
Banque Misr
151 Mohamed Farid Street
Cairo
Tel : (20-2) 3912711 / 3912106
Fax : (20-2) 3919779
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction January 2000
Credit amount 10,000
Amount overdue 0
Payment terms 30
days
Payment Method Letters of Credit
Paying record No Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Opinion on the credit figure of US$ 1,000,000
Amoun Pharmaceutical Co SAE has operations dating back to 1989 and is engaged in the production of various chemicals, including amines, raw materials for pharmaceuticals and parapharmaceutical preparations, as well as aerosol bottles and containers.
Local sources report that subject’s operating history is clear with payment obligations met in a timely manner. As such the company is deemed a sound trade risk and the above credit figure is within subjects financial means.
Maximum suggested credit figure: US$ 2,500,000
RATING EXPLANATIONS
RATING
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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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |