MIRA
INFORM REPORT
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Report Date : |
23.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
OAN PHARMACEUTICALS |
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Registered Office : |
6 Gezeret Badran
Street, Shubra, Cairo |
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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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Com. Reg. No.: |
11524, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : OAN PHARMACEUTICALS
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2004
Commercial Registration Number : 11524, Cairo
Invested Capital : £E 50,000
Total Workforce : 4
Activities : Import and distribution of pharmaceuticals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
OAN PHARMACEUTICALS
ADDRESS
Registered & Physical Address
Street : 6 Gezeret Badran Street
Area : Shubra
Town : Cairo
Country : Egypt
Telephone : (20-2) 25792513
Facsimile : (20-2) 25792513
Mobile : (20-12) 5088505
Email : olfatghorby@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Mrs Olfat Ghobry Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 11524, Cairo
Invested Capital
: £E 50,000
Mrs Olfat Ghobry is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import
and distribution of pharmaceuticals.
Import
Countries: India
International
Suppliers:
·
Bravahat
Industries India
·
Everest India
Operating Trend: Steady
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales £E 6,750,000 £E 8,100,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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
business is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
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%)