MIRA
INFORM REPORT
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Report Date : |
12.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
OCTOBER PHARMA SAE |
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Registered Office : |
12 Abou Hazem Street, Madkour, Cairo 12211 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1984 |
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Com. Reg. No.: |
73680, Giza |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and Marketing of Pharmaceuticals, Drugs and Para- Pharmaceutical Solutions. |
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$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : OCTOBER PHARMA SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1984
Commercial Registration Number : 73680, Giza
Issued Capital : £E 60,000,000
Paid up Capital : £E 60,000,000
Total Workforce : 520
Activities : Manufacture and marketing of pharmaceuticals, drugs and para-
pharmaceutical solutions.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY NAME
OCTOBER PHARMA SAE
ADDRESS
Registered & Physical Address
Street : 12 Abou
Hazem Street
Area : Madkour
Town : Cairo 12211
Country : Egypt
Telephone : (20-2) 37798123
Facsimile : (20-2) 35873734
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· 1st
Industrial Zone, Plot No. 190 Owned
factory premises
Giza
PO Box: 38
Sixth Of
October City 12566
Tel:
(20-2) 38331832 / 38330329 / 38330652
Fax:
(20-2) 38330653
KEY PRINCIPALS
Name Position
· Dr Mahmoud Adel
Mohamed Fouad Chairman
· Dr.
Fouad El Lathy Director
· Maryan
Ghaly Director
· Adnan
Talal Director
· Dr.
Taha Abd El Gawad El Khoby Director
· Dr.
Samir Thabet Director
· Mohamed
Ben Saleh El Ghossily Director
· Fawzy
Ibrahim El Maaty Director
· Khaled
Mohamed El Khaga Director
· Farouk El Ayouti Finance
Manager
· Ashraf
Osman Accounts
Manager
· Dr.
Ashraf Elwan Marketing
Manager
· Dr.
Mortada Diab Export
Manager
· Ossama
El Aasy Import
Manager
· Dr.
Moustafa Gaafar Purchasing
Manager
· Eman
Hassan Production
Manager
· Dr.
Mohamed Helal Factory
Manager
· Sherif
Hedar Administration
Manager
· Khaled
Shouky IT
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1984
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 73680, Giza
Issued Capital : £E 60,000,000
Paid up Capital : £E 60,000,000
Name of Shareholder (s) Percentage
· Arabian
for Drugs Industries & Medical Appliances (Acdima) 22.27%
Egypt
· Saudi
Egyptian Industrial Investments 20.00%
114 El Tahrir
Street
Dokki, Giza
Cairo
Tel: (20-2)
3377788 / 3377888
Fax: (20-2)
3377788
Email: info@seindust-inv.com
· Joint
Arab Investment Corp (Jaicorp) 15.00%
32 Gaemat El Dawal
El Arabia Street
Mohandessin, Giza
Cairo
Tel: (20-2)
3471495 / 3476068
Fax: (20-2)
3471361
· The
Saudi Investment Group & Marketing 12.50%
Egypt
· University
Studies Support Fund 7.50%
Egypt
· Egyptian
businessmen & private investors 22.73%
AFFILIATED COMPANIES
· Modern Coatings
& Chemicals Co (MCC)
12 Abu Hazem
Street
Cairo
Tel: (20-2)
5822753
· Egyptian Promoters
Center (EPC)
OPERATIONS
Activities: Engaged in the manufacture and marketing of pharmaceuticals, drugs and
para-pharmaceutical solutions.
Import Countries: Germany, Belgium, France and the United Kingdom.
Export Countries: Yemen, Libya and Saudi Arabia.
Operating Trend: Steady
Subject has a workforce of approximately 520 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Sales £E
160,048,000 £E
161,296,160
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Bank of Abu Dhabi
Nile Tower, 18th Floor
21, Giza Street
Cairo
Tel : (20-2) 3609724
·
National Bank of Egypt
24, Sherif Street
Cairo
Tel :
(20-2) 3924175
Fax :
(20-2) 3924143
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
·
Arab Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 3029069 / 3029070
Fax: (20-2) 3029068
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
October Pharma SAE is well established in the local market with
operations dating back over 20 years. It is engaged in the manufacture and
marketing of pharmaceuticals, drugs and para-pharmaceutical solutions.
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.
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%)