MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELTA PHARMACEUTICAL INDUSTRIES |
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Trading Name : |
DELTA PHARMA COMPANY |
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Registered Office : |
36 Makkram Ebeid Street, Nasr City, Cairo, |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
May 1997 |
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Com. Reg. No.: |
2930348, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of therapeutic and diagnostic blood derivatives,
plasma substitutes and medical
laboratories requisites, as well as 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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
DELTA PHARMACEUTICAL INDUSTRIES
Trading As :
DELTA PHARMA COMPANY
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
May 1997
Commercial Registration Number :
2930348, Cairo
Issued Capital :
£E 800,000
Paid up Capital :
£E 800,000
Total Workforce :
100
Activities :
Manufacture of therapeutic and diagnostic blood derivatives, plasma
substitutes and medical laboratories
requisites, as well as
pharmaceuticals
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 250,000
COMPANY NAME
DELTA PHARMACEUTICAL INDUSTRIES
TRADING AS: DELTA PHARMA COMPANY
ADDRESS
Registered & Physical Address
Street : 36 Makkram
Ebeid Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22877791 / 22877792 / 22877793
Facsimile : (20-2) 22877794
Email : info@deltapharmaegypt.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
Industrial Zone B4, Area No.: 77/B Factory
premises
Sharkeya
PO Box 1121
Tenth of Ramadan City
Tel: (20-15) 373781 / 373782
Fax: (20-15) 373783
24 El Glaa Street Sales
office
Alexandria
Tel: (20-3) 5760329
26 July Street Sales
office
Ibn Sina
Assuit
Tel: (20-88) 339311
KEY PRINCIPALS
Name Position
Dr Mohy Mohamed Hafiz Chairman
Dr. Mohamed Tawfik El Rakhawy Director
Dr. Raouf Hakim Elias Director
Bassel Raouf Hakim Director
Dr. Ahmed Abouel Azayem Director
Dr. Fayez Shafik General
Manager
Dr Mohamed Abbas Commercial
Manager
Hajaj Hussain Human
Resources Manager
LEGAL FORM &
OWNERS
Date of Establishment : May 1997
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 2930348, Cairo
Issued Capital : £E 800,000
Paid up Capital : £E 800,000
Name of Shareholder
(s)
Dr Mohy Mohamed Hafiz
Dr. Mohamed Tawfik El Rakhawy
Dr. Raouf Hakim Elias
Bassel Raouf Hakim
Dr. Ahmed Abouel Azayem
OPERATIONS
Activities: Engaged in the manufacture of therapeutic and diagnostic blood
derivatives, plasma substitutes and
medical laboratories requisites, as well as pharmaceuticals.
Import Countries: Germany, Japan and India
Operating Trend: Steady
Subject has a workforce of 100 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
24,250,000 £E
27,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
National Bank of Egypt
Sharkeya Branch
Tenth of Ramadan City
Tel : (20-15) 360833 / 360744 / 344144
Cairo Far East Bank SAE
PO Box : 757
Cairo
Tel : (20-2) 3713554 / 3710280
Fax : (20-2) 3483818
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction December
2004
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
Delta Pharmaceutical Industries was established in 1997 and is engaged
in the manufacture of therapeutic and diagnostic blood derivatives, plasma
substitutes and medical laboratories requisites, as well as pharmaceuticals.
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 admissible.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)