MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MULTI APEX PHARMA FOR PHARMACEUTICALS INDUSTRIES |
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Registered Office : |
31 Omar Bakir Street,
Heliopolis, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
2000 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturer of Pharmaceutical Products |
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$ 750,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MULTI APEX PHARMA FOR PHARMACEUTICALS INDUSTRIES
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2000
Authorised Capital : £E 200,000,000
Issued Capital : £E 80,000,000
Paid up Capital : £E 80,000,000
Total Workforce : 100
Activities : Manufacture of pharmaceutical products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY NAME
MULTI APEX PHARMA FOR PHARMACEUTICALS
INDUSTRIES
ADDRESS
Registered & Physical
Address
Street : 31 Omar
Bakir Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 24153009
Facsimile : (20-2) 24153009
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
· Cairo/Ismailia
Road Factory
premises
Badr City Industrial Zone, Plot 21D
Cairo
Tel:
(20-2) 28643001/2/3/4/5/6/7/8
Fax:
(20-2) 28643009
KEY PRINCIPALS
Name Position
· Dr.
Ahmed Essam Ragheb El Ezaby Chairman
· Magdy
Ali Elba Managing
Director
· Amr
Yaccout Director
· Hany
Ali Finance
Manager
· Hesham
El Agmy Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2000
Legal Form : Egyptian Joint
Stock Company
Authorised Capital : £E 200,000,000
Issued Capital : £E 80,000,000
Paid up Capital : £E 80,000,000
Name of Shareholder (s)
· Dr.
Ahmed Essam Ragheb El Ezaby
· Magdy
Ali Elba
· Amr
Yaccout
AFFILIATED COMPANIES
· Apex Pharma SAE
13
Aflatoun Street
Heliopolis
Cairo
11361
Tel:
(20-2) 26900044 / 24153009
Fax:
(20-2) 4180617
Email:
apex@apexpharma.net
OPERATIONS
Activities: Engaged in the manufacture of pharmaceutical
products.
Import Countries: France, Spain, Germany, Denmark and the United
States of America.
Operating Trend: Steady
Subject has a workforce of approximately 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
32,000,000 £E
41,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
HSBC Bank Egypt
3 Abul Feda Street
Zamalek
Cairo
Tel: (20-2)
27394748
Fax: (20-2)
27361457
·
National Societe Generale Bank
5 Champollion
Street
Cairo
Tel: (20-2)
27707777
Fax: (20-2)
27707799
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.
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%)