MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
EGYPTIAN PHARMACEUTICAL & FOOD CHEMICALS CO |
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Registered Office : |
95D
El Merghany Street, Heliopolis, Cairo, Egypt |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Import of Chemicals for the
Pharmaceutical and Food Industries |
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$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EGYPTIAN PHARMACEUTICAL & FOOD CHEMICALS CO
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2004
Issued Capital : £E 4,300,000
Paid up Capital : £E 4,300,000
Total Workforce : 25
Activities : Import of chemicals for the pharmaceutical and food industries
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
COMPANY NAME
EGYPTIAN PHARMACEUTICAL & FOOD CHEMICALS CO
ADDRESS
Registered & Physical Address
Street : 95D
El Merghany Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22907065
/ 24148381 / 24195488
Facsimile : (20-2) 24173688
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
·
Amerya
Free Zone Rented
warehouse
Alexandria
KEY PRINCIPALS
Name Position
·
Dr.
William Isaq Managing
Director
·
Dr.
Hany William Director
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 4,300,000
Paid up Capital : £E 4,300,000
Name of Shareholder (s)
·
Dr.
William Isaq
·
Dr.
Hany William
OPERATIONS
Activities: Engaged in the import
of chemicals for the pharmaceutical and food industries.
Import
Countries: India and the
United States of America
Operating Trend: Steady
Subject has a
workforce of 25 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales £E 9,100,000 £E 10,850,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Arab Banking
Corporation
PO Box : 781
Cairo
Tel : (20-2) 35745488 / 35780417
Fax : (20-2) 35780416
·
Arab African
International Bank
5, El Saraya El Kobira Square
PO Box : 60, Magles El Shaab
Cairo
Tel : (20-2) 33545094
Fax : (20-2) 33558493
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction September
2006
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Egyptian Pharmaceutical & Food Chemicals Co commenced operations in 2004. It is engaged
in the import of chemicals for the pharmaceutical and
food industries.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding 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 deemed admissible.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
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. |
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%)