MIRA INFORM REPORT

 

 

Report Date :

28.09.2007

 

IDENTIFICATION DETAILS

 

Name :

EGYPTIAN GROUP FOR PHARMACEUTICAL INDUSTRIES

 

 

Registered Office :

28 El Obour Buildings, 10th Floor, El Shabab Street, Mubarak Square, Nasr City, Cairo

 

 

Country :

Egypt

 

 

Date of Incorporation :

2002

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Engaged in the manufacture of pharmaceuticals.

 

 

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

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                         : EGYPTIAN GROUP FOR PHARMACEUTICAL INDUSTRIES

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 2002

Authorised Capital                                  : £E 50,000,000

Issued Capital                                        : £E 20,000,000

Paid up Capital                                      : £E 20,000,000

Total Workforce                                     : 50

Line of Business                                    : Manufacture of pharmaceuticals.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

EGYPTIAN GROUP FOR PHARMACEUTICAL INDUSTRIES

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : 28 El Obour Buildings, 10th Floor

Street               : El Shabab Street, Mubarak Square

Area                 : Nasr City

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 24042012

Facsimile          : (20-2) 24048360

 

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Suburban Business Area of Cairo.

 

 

Branch Office (s)

 

     Location                                                                               Description

 

·       Cairo - Ismailia Road                                                             Owned factory premises

2nd Industrial Zone, El Obour City

Cairo

Tel: (20-2) 44782937 / 44782938 / 44782945

Fax: (20-2) 44782939

 

 

KEY PRINCIPALS

 

·       Dr. Youssef Badran                                                               Chairman

 

·       Dr. Tarek Omar                                                                     Managing Director

 

·       Dr. Mohamed El Barbary                                                        Director

 

·       Dr. Niazi Zakaria El Ghaffar                                                    Director

 

·       Wael Hassan                                                                        Finance Manager

 

·       Khaled El Shaier                                                                   Purchasing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2002

 

Legal Form                  : Societe Anonyme Egyptienne – SAE (Egyptian Joint Stock Company)

 

Authorised Capital       : £E 50,000,000

 

Issued Capital              : £E 20,000,000

 

Paid up Capital            : £E 20,000,000

 

 

Name of Shareholder (s)         Percentage

 

·       Dr. Youssef Badran                                                                           25%

 

·       Dr. Tarek Omar                                                                                 25%

 

·       Dr. Mohamed El Barbary                                                                    25%

 

·       Dr. Niazi Zakaria El Ghaffar                                                                25%

 

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 manufacture of pharmaceuticals.

 

Import Countries : Europe and Asia.

 

Subject has a workforce of 50 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

 

·       Ahli United Bank

64 Gamaet El Dewal El Arabia Street

Mohandessin, Giza

Cairo

Tel: (20-2) 37491751

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 100,000:

 

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$ 150,000

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. 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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions