MIRA INFORM REPORT

Report Date :

07.04.2011

IDENTIFICATION DETAILS

Name :	ORGANO PHARMACEUTICAL & CHEMICAL INDUSTRIES CO

Registered Office :	Obour City, Industrial Area No. 2,3,4, Block No. 2005, Cairo Ismailia Desert Road, Cairo

Country :	Egypt

Year of Establishment :	2006

Legal Form :	Limited Liability Partnership

Line of Business :	Manufacturer of pharmaceutical products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 600,000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : ORGANO PHARMACEUTICAL & CHEMICAL INDUSTRIES CO

Country of Origin : Egypt

Legal Form : Limited Liability Partnership

Registration Date : 2006

Issued Capital : £E 500,000

Paid up Capital : £E 500,000

Total Workforce : 100

Activities : Manufacture of pharmaceutical products

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 600,000

Person Interviewed : Dr Moafik Ali Abdullah Sakr, Managing Partner

COMPANY NAME

ORGANO PHARMACEUTICAL & CHEMICAL INDUSTRIES CO

company ADDRESS

Registered & Physical Address

Location : Obour City, Industrial Area No. 2,3,4, Block No. 2005

Street : Cairo Ismailia Desert Road

Town : Cairo

Country : Egypt

Telephone : (20-2) 44665135

Facsimile : (20-2) 44665135

Mobile : (20-12) 3137590

Email : organomix@hotmail.com

Premises

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Cairo.

Branch Office (s)

Location Description

· Giza Rented sales office

Cairo

Tel: (20-2) 33878893

Fax: (20-2) 37401321

KEY PRINCIPALS

Name Position

· Dr Moafik Ali Abdullah Sakr Managing Partner

· Dr Asma Moafik Ali Abdullah Sakr Partner

· Dr Yaser Mohamed Ali Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 2006

Legal Form : Limited Liability Partnership

Issued Capital : £E 500,000

Paid up Capital : £E 500,000

Name of Shareholder (s)

· Dr Moafik Ali Abdullah Sakr

· Dr Asma Moafik Ali Abdullah Sakr

OPERATIONS

Activities: Engaged in the manufacture of pharmaceutical products, with approximately 50 registered brands.

Import Countries: Italy and India

Subject has a workforce of 100 employees.

FINANCIAL DATA

Companies registered in Egypt are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources. Whilst Dr Moafik Ali Abdullah Sakr refused to divulge any sales figures he did state that the business has assets of approximately £E 60,000,000.

BANKERS

· Faisal Islamic Bank

1113 Corniche El Nil Street

Dokki, Giza

Cairo

Tel: (20-2) 22753165

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk and the above credit figure is deemed admissible.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.22
UK Pound	1	Rs.72.25
Euro	1	Rs.63.09

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.