MIRA INFORM REPORT

 

 

Report Date :           

06.04.2011

 

IDENTIFICATION DETAILS

 

Name :

UNIVERSAL INDUSTRIAL PHARMACEUTICAL CO (UNI PHARMA)

 

 

Registered Office :

7 Dr Ezzat Salama Street (off Abbass El Akkad Street), Nasr City, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1999

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture and export of pharmaceutical and veterinary preparations

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 850,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : UNIVERSAL INDUSTRIAL PHARMACEUTICAL CO (UNI PHARMA)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1999

Issued Capital                                        : £E 14,000,000

Paid up Capital                                      : £E 14,000,000

Total Workforce                                     : 400

Activities                                               : Manufacture and export of pharmaceutical and veterinary preparations

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 850,000

 

COMPANY NAME

 

UNIVERSAL INDUSTRIAL PHARMACEUTICAL CO (UNI PHARMA)

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 7 Dr Ezzat Salama Street (off Abbass El Akkad Street)

Area                 : Nasr City

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 22748492

Facsimile          : (20-2) 22748636

 

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 13, Block 13013                                             Owned factory premises

Cairo - Ismailia Road

El Obour City

Tel: (20-2) 26103233 / 26103234 / 26103236

Fax: (20-2) 26103235

 

·       Ceramica Cleopatra Building, 7th Floor                                     Rented sales office

     Moustafa El Nahhas Street

     Nasr City

     Cairo

     Tel: (20-2) 22737107

     Fax: (20-2) 22737107

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Dr El Sayed El Sayed El Ganayni                                                       Chairman

 

·       Reda El Dessouki                                                                             Finance Manager

 

·       Ayman Shehata                                                                                Export Manager

 

·       Nassef Ahmed Ali                                                                             Factory Manager

 

·       Ayat Ismail                                                                                       Office Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1999

 

Legal Form                  : Egyptian Joint Stock Company

 

Authorised Capital       : £E 20,000,000

 

Issued Capital              : £E 14,000,000

 

Paid up Capital            : £E 14,000,000

 

Name of Shareholder (s)                                               Percentage

 

·       Mahmoud El Sayed El Ganayni                                       25%

 

·       Fayza Mohamed Bekhati                                                20%

 

·       Mohamed El Sayed El Sayed El Ganayni                         20%

 

·       Dr El Sayed El Sayed El Ganayni                                    15%

 

·       Serylan El Sayed El Sayed El Ganayni                            10%

 

·       Dalia El Sayed El Sayed El Ganayni                                10%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and export of pharmaceutical and veterinary preparations including anaesthetics, sedatives and spasmolytics, disinfectants and antiseptic products, electuaries, fish oils, iron dextran, and diagnostic kits.

 

Import Countries: Japan, India, Germany and the United States of America

 

Export Countries: Sudan, Iraq, Saudi Arabia, Yemen and Russia

 

Brand Names: UNI PHARMA

 

Operating Trend: Steady

 

Subject has a workforce of approximately 400 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                £E 44,600,000                           £E 48,325,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Bank of Egypt

24 Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              October 2005                            November 2008

Credit amount                                        100,000                         100,000

Amount overdue                         0                                              0

Payment terms                                      60 days                                     60 days

Payment Method                                   Letters of Credit                         Letters of Credit

Paying record                                        No Complaints                           No Complaints

Currency                                               US Dollars                                 US Dollars

 

 

GENERAL COMMENTS

 

The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.45

UK Pound

1

Rs.71.59

Euro

1

Rs.63.01

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

 

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%)

 

 

 

 

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