MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAFE PHARMA |
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Registered Office : |
2nd Industrial Zone, Block 31, Area No. 3, New Borg El Arab, PO Box
49, Sidi Gaber, Alexandria |
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Country : |
Egypt |
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Date of Incorporation : |
1994 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of Soft Gelatine
Capsules for Vitamins |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SAFE PHARMA
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1994
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 150
Activities : Manufacture of soft gelatine capsules for vitamins
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
SAFE PHARMA
ADDRESS
Registered & Physical Address
Location : 2nd
Industrial Zone, Block 31, Area No. 3, New Borg El Arab
PO Box : 49, Sidi Gaber
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4592158
Facsimile : (20-3) 4592159
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Alexandria.
KEY PRINCIPALS
Name Position
· Dr Hassan Abbass Managing
Partner
· Dr Shreen Hassan Abbass Partner
· Yashar
Hassan Abbass Partner
LEGAL FORM & OWNERS
Date of
Establishment : 1994
Legal Form : Limited Liability
Partnership
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder (s)
· Dr Hassan Abbass
· Dr Shreen Hassan Abbass
· Yashar
Hassan Abbass
OPERATIONS
Activities: Engaged in the manufacture of soft gelatine
capsules for vitamins.
Import Countries: India, Germany and Austria
Subject has a workforce of approximately 150 employees.
FINANCIAL DATA
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
·
National Societe Generale Bank
240 El Karnish
Road
Rushdy
Alexandria
Tel: (20-3) 5452352
/ 5225580 / 5225590
Fax: (20-3)
5455715 / 5452352
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 company 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.42.54 |
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UK Pound |
1 |
Rs.84.86 |
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Euro |
1 |
Rs.66.95 |
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%)