MIRA
INFORM REPORT
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Report Date : |
12.07.2007 |
IDENTIFICATION DETAILS
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Name : |
EL OBOUR MODERN PHARMACEUTICAL INDUSTRIES CO |
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Registered Office : |
Plot No. 18, Block 13024, 1st Industrial Zone, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
297061 |
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Legal Form : |
Sharikat Tadhamun (General Partnership) |
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Line of Business : |
Engaged in the manufacture of veterinary and human drugs and pharmaceuticals |
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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Maximum Credit Limit : |
US$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
EL OBOUR MODERN PHARMACEUTICAL INDUSTRIES CO
Country of Origin :
Legal Form :
General Partnership
Registration Date :
2002
Commercial Registration Number :
297061
Partners Capital :
£E 22,000,000
Total Workforce : 180
Line of Business :
Manufacturers of veterinary and
human drugs and pharmaceuticals.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
EL OBOUR MODERN PHARMACEUTICAL INDUSTRIES CO
ADDRESS
Registered & Physical Address
Location : Plot No. 18,
Block 13024, 1st Industrial Zone
Area :
Town :
Country :
Telephone : (20-2) 46100296 / 46100297
Facsimile : (20-2) 46101122
Email : info@opipharma.com
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Cairo.
Branch Office (s)
Location Description
12 El Moalmeen
Street Rented
office premises
Zagazig
Tel : (20-55) 2325232 / 2325235 / 2365226
KEY PRINCIPALS
Magda Ahmed Al
Sugair Managing
Partner
Ahmed Mohamed
Salem Partner
Ahmed Hisham General
Manager
Othman
Abdulrahim Finance
Manager
Dr Ashraf
Mohamed Ahmed Commercial
Manager
Dr Samya Hegazi Production
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2002
Legal Form :
Sharikat Tadhamun (General Partnership)
Commercial Reg. No. : 297061
Partners Capital : £E
22,000,000
Name of Partner (s)
Magda Ahmed Al
Sugair
Ahmed Mohamed
Salem
Jordanian
Pharmaceutical Co
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between
two or more general partners who will jointly and unlimitedly, to the extent of
their personal assets, be responsible for the liabilities of the company.
Creditors may claim the debts from either the company as a separate legal
entity or from the general partners.
Notwithstanding the English translation of its name, this type of
company should not be compared to the partnership concept under English Law. A
Sharikat Tadhamun is considered a company and has the attributes of a
corporation similar to that of a partnership under Scottish Law or to the
“Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a
general partnership. The shares of each partner, presented in cash, kind or
rights, must not be issued in the form of negotiable instruments, nor can they
be transferred or assigned without the unanimous approval of the partners
unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations :
Engaged in the manufacture of veterinary
and human drugs and pharmaceuticals.
Import Countries :
Operating Trend :
Steady
Subject has a workforce of 180 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pounds (£E)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue £E
36,400,000 £E
38,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Suez Canal Bank
Maadi
PO Box: 249
Tel: (20-2) 3582681
Fax: (20-2) 3582274
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Established in 2002, subject is involved in the manufacture of veterinary and human drugs and
pharmaceuticals.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
Maximum suggested credit figure: US$ 300,000
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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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%)