MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
HI PHARM MEDICALS |
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Registered Office : |
Cairo / Ismailia Road, 1st Industrial Zone, Obour City, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1989 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture
and Export of Human 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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : HI PHARM MEDICALS
Also Known As : HI PHARM PHARMACEUTICAL & CHEMICAL INDUSTRY
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1989
Issued Capital : £E 2,500,000
Paid up Capital : £E 2,500,000
Total Workforce : 200
Activities : Manufacture and export of human pharmaceuticals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
HI PHARM MEDICALS
ALSO KNOWN AS
HI PHARM PHARMACEUTICAL & CHEMICAL INDUSTRY
ADDRESS
Registered & Physical Address
Street : Cairo / Ismailia Road
Area : 1st Industrial
Zone, Obour City
Town : Cairo
Country : Egypt
Telephone : (20-2) 46100203/4/5/6/7
Facsimile : (20-2) 46100201/9
Premises
Subject operates from
a large suite of offices and a factory that are owned and located in the
Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Dr. Habib Bassily Managing
Director
·
Boutros Gabrail Director
·
Boshra Mena Director
·
Dr.
Maher Zaki General
Manager
·
Eman
Sobhy Finance
Manager
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Ghada
Fawzy Office
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1989
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 2,500,000
Paid up Capital : £E 2,500,000
Name of Shareholder
(s)
·
Dr. Habib Bassily
·
Boutros Gabrail
·
Boshra Mena
OPERATIONS
Activities: Engaged in the manufacture and
export of human pharmaceuticals, including antibiotics, hypertension
medicines and vitamins.
Import
Countries: United Kingdom,
Germany and Japan.
Export
Countries: Saudi
Arabia, United Arab Emirates, and Romania.
Operating Trend: Steady
Subject has a
workforce of approximately 200 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 37,800,000 £E 39,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Banque Misr
151 Mohamed Farid Street
Cairo
Tel : (20-2) 3912711 / 3912106
Fax : (20-2) 3919779
·
National Bank
of Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction September
2005
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Hi Pharm Medicals
is well established in the local market specialising in the manufacture
and export of human pharmaceuticals.
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%)