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MIRA
INFORM REPORT
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Report Date : |
12.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
EL GOUMHOURIA CO FOR TRADING MEDICINES, CHEMICALS & MEDICAL APPLIANCES (GOMAC) |
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Registered Office : |
23 Sawah Street, El Amireya Hadayek El-Qobba Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1963 |
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Com. Reg. No.: |
117073 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Import, distribution and manufacture of medical equipment and appliances. |
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$ 1,000,000 |
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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 |
EL GOUMHOURIA CO FOR TRADING MEDICINES, CHEMICALS & MEDICAL APPLIANCES (GOMAC) |
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Country of Origin |
Egypt |
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Legal Form |
Egyptian Joint Stock Company |
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Registration Date |
1963 |
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Commercial Registration Number |
117073, Cairo |
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Authorized Capital |
£E 100,000,000 |
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Issued Capital |
£E 80,000,000 |
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Paid up Capital |
£E 80,000,000 |
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Total Workforce |
1,440 |
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Line of Business |
Import, distribution and manufacture of medical equipment and appliances |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
EL GOUMHOURIA CO FOR TRADING MEDICINES, CHEMICALS & MEDICAL APPLIANCES (GOMAC)
ADDRESS
Registered & Physical Address
Street : 23 Sawah Street
Area : El Amireya Hadayek El-Qobba
Town : Cairo
Country : Egypt
Telephone : (20-2) 2572357 / 2571314 / 4530827 / 6017524 / 6017522 /
6030519
Facsimile : (20-2) 2571698 / 2572067 / 4522523
Email : gomhoria@idsc.net.org
Premises
Subject operates from a large suite of offices that are owned and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
13 Mahmoud Bassiouny Street Sales Office
Cairo
Tel: (20-2) 5743378
Fax: (20-2) 5743378
15a Sherif Street Sales Office
Cairo
Tel: (20-2) 3936548
Fax: (20-2) 3936548
42 Kasr El Aini Street Sales Office
Dar El Hekma, Garden City
Cairo
Tel: (20-2) 7464930
Fax: (20-2) 7464930
Falaky Square Sales Office
Bab El Louk, Abdin
Cairo
Tel: (20-2) 3547577
Fax: (20-2) 3547577
Cornish Street Sales Office
Ramleh
Alexandria
Tel: (20-3) 5333012
Fax: (20-3) 5333012
Safeya Zaghloul Street Sales Office
Ramleh
Alexandria
Tel: (20-3) 4869952
Fax: (20-3) 4869952
Chamber of Commerce Building Sales Office
El Guish Street
Tanta
Tel: (20-40) 3333973
Fax: (20-40) 3333973
Ghandi El Assiuty Building Sales Office
Talaat
Harb Street
Assiut
Tel:
(20-86) 333726
Fax: (20-86) 333726
El Gomhoureya & Abd El Moneim Riad Street Sales Office
Port Said
Tel: (20-66) 323964 / 323966
Fax: (20-66) 323966
El Sadr Hospital Building Sales Office
Mansoura
Tel:
(20-50) 355991 / 343299
Fax: (20-50) 345327
KEY PRINCIPALS
Mostafa Ahmed El Boraee Chairman
Dr Mohamed Mohey El Din Managing Director
Sayed Ezzat Finance Manager
Hoda Nasr Accounts Manager
Wagdy Gaber Sales Manager
Mohamed Helal Administration Manager
Mahasen Badran Purchasing Manager
Mounir Mesbah IT Manager
Abd El Hamid Rashwan Public Relations Manager
LEGAL FORM & OWNERS
Date of Establishment : 1963
Legal Form : Societe Anonyme Egyptienne – SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 117073, Cairo
Authorised Capital : £E
100,000,000
Issued Capital : £E 80,000,000
Paid up Capita : £E 80,000,000
Name of Shareholder
(s) Percentage
Drug Holding Company for Pharmaceutical & Medical Appliances 100%
12 Wakeed Street
PO Box: 2078
Cairo
Tel: (20-2) 5912825 / 5935533
Fax: (20-2) 5916866 / 5907560
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 : The company is a commercial agent and distributor of reputable international manufacturers of medical equipment and appliances, pharmaceutical raw materials and chemical reagents.
Subject
is also engaged in the production of hospital furniture such as beds, some
dental units, chairs and lamps.
The
company is ISO 9002 accredited.
Import Countries : France,
Germany, United Kingdom, Italy, Switzerland, Netherlands, India, China, Japan,
and the United States of America.
International Suppliers :
Siemens Germany
Philips Germany
Essco Lab Germany
Eitekon United Kingdom
Subject has a workforce of approximately 1,440 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.
BANKERS
National Bank of Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
Banque du Caire SAE
22 Adly Street
PO Box : 1495
Cairo
Tel : (20-2) 3904554
Fax : (20-2) 3908992
Export Development Bank of Egypt
108 Mohi El Din Abu El Ezz Street
Mohandessin
Cairo 11111
Tel : (20-2) 3619005 / 3385877
Fax : (20-2) 3385940 / 3385938
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction February 2001 October 2004
Credit amount 250,000 100,000
Amount overdue 0 0
Payment terms 90
days 90
days
Payment Method Letters of Credit Letters of Credit
Paying record No Complaints No Complaints
Currency Pounds
Sterling US
Dollars
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
El Goumhouria Co For Trading Medicines,
Chemicals & Medical Appliances (Gomac) was established in 1963 and is a
commercial agent and distributor of medical equipment and appliances,
pharmaceutical raw materials and chemical reagents. It is also engaged in the production of hospital furniture.
The company is wholly owned by the Drug Holding Company for Pharmaceutical & Medical Appliances, which in turn is responsible to the Egyptian Government.
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.
Maximum suggested credit figure: US$ 1,000,000
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 |
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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