MIRA
INFORM REPORT
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Report Date : |
11.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHEMIPHARM PHARMACEUTICAL INDUSTRIES SAE |
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Registered Office : |
6th Industrial Zone, Plot 1/2/3, Giza, 6th of October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of Chemical Products,
Specialising in Human Pharmaceuticals |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 600,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
CHEMIPHARM PHARMACEUTICAL INDUSTRIES SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1990
Issued Capital :
£E 40,000,000
Paid up Capital :
£E 40,000,000
Total Workforce :
150
Line of Business :
Manufacture of chemical products, specialising in
human pharmaceuticals
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
CHEMIPHARM PHARMACEUTICAL INDUSTRIES SAE
ADDRESS
Registered & Physical Address
Street : 6th Industrial Zone, Plot 1/2/3
Area : Giza
Town : 6th of October City
Country : Egypt
Telephone : (20-2) 8349597 / 8349598 / 8349599
Facsimile : (20-2) 8349594
Mobile : (20-10) 1721603
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of the 6th
of October City.
Branch Office (s)
Location Description
· 13
Ahmed Orabi Street Sales
Office
Mohandessin, Giza
Cairo
Tel:
(20-2) 3474875 / 3470549
Fax:
(20-2) 3474506
KEY PRINCIPALS
· Karim
Gamal Kamel Managing
Director
· Dr.
Nassef Hanna Ayoub Director
· Rafik
Nessim General
Manager
· Nazih
Dawoud Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1990
Legal Form : Societe Anonyme
Egyptienne – SAE (Egyptian Joint Stock
Company)
Issued Capital : £E 40,000,000
Paid up Capital : £E 40,000,000
Name of Shareholder (s)
· Karim
Gamal Kamel
· Dr.
Nassef Hanna Ayoub
Note to the Legal Form
The Egyptian Company Law provides that the capital of a
Societe Anonyme Egyptienne - SAE – should not be less than £E 500,000 if shares
are offered to the public and £E 250,000 if not. If shares are offered to the
public they are freely transferable, if not, transfer may be restricted.
Liability of shareholders is limited.
AFFILIATED COMPANIES
· Chemipharm Ltd
13 Ahmed Orabi Street
Mohandessin,
Giza
Cairo
Tel:
(20-2) 3470549 / 3474875 / 3029560 / 3459186
Fax:
(20-2)
3474506
LINE OF BUSINESS
Operations : Engaged in the
manufacture of chemical products, specialising in human pharmaceuticals.
Import Countries : United States of America, United Kingdom and
Germany.
Operating Trend : Steady
Subject has a workforce of approximately 150 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pounds (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales £E
33,450,000 £E
37,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Egyptian American Bank
4 & 6 Hassan Sabri
Zamalek
PO Box : 1825
Cairo
Tel : (20-2) 3416150
Fax : (20-2) 3420265
·
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 the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk.
Maximum suggested credit figure: US$ 600,000
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%)