MIRA INFORM REPORT
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Report Date : |
18.04.2011 |
IDENTIFICATION DETAILS
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Name : |
EUROPEAN EGYPTIAN FOR PHARMACEUTICAL INDUSTRIES SAE |
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Formerly Known As : |
EUROPEAN EGYPTIAN FOR MEDCIAL INDUSTRIES |
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Registered Office : |
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Country : |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
146276, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Production and export of human pharmaceutical preparations |
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$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : EUROPEAN EGYPTIAN FOR PHARMACEUTICAL INDUSTRIES SAE
Also Known As : EUROPEAN EGYPTIAN FOR MEDCIAL INDUSTRIES
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1998
Commercial Registration Number : 146276,
Tax Card Number : 706-004-132
Authorised Capital : £E 300,000,000
Issued Capital : £E 67,000,000
Paid up Capital : £E 67,000,000
Total Workforce : 500
Activities : Production and export of human pharmaceutical preparations
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 600,000
COMPANY
NAME
EUROPEAN EGYPTIAN FOR PHARMACEUTICAL
INDUSTRIES SAE
ALSO KNOWN AS: EUROPEAN EGYPTIAN FOR MEDCIAL INDUSTRIES
ADDRESS
Registered & Physical
Address
Street :
Area : Amriya
PO Box : 111
Town :
Country :
Telephone : (20-3) 4700465 /
4701001 / 4700462 / 4700463 / 4700461 / 4701154
Facsimile : (20-3) 4701146
/ 4700156 / 4701003
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Alexandria.
Branch Office (s)
Location Description
·
Smouha
Tel:
(20-3) 4206920
Fax:
(20-3) 4701003
·
Tel: (20-2)
24172648
Fax: (20-2)
22905608
·
Tel: (20-40)
3416675
Fax: (20-40)
3412155
· Mansoura Rented
sales office
Tel: (20-50)
2319123
Fax: (20-50)
2319124
KEY
PRINCIPALS
Name Position
· Dr Hassan Abbass
Helmi Chairman
· Abdel Moneim El
Tokhy Managing
Director
· Dr Sherine Hassan
Abbass Helmi Director
· Hussein M Hussein Plant
Manager
· Mohamed Etman Research
Manager
· Tarek Abd Elmomen Engineering
Manager
· Raouf Moyasser Finance
Manager
· Yasser Fayed Marketing
Manager
· Mohamed Shawky Sales
Manager
· Rashad El Bana IT
Manager
LEGAL
FORM & OWNERS
Date of
Establishment : 1998
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 146276,
Tax Card No. : 706-004-132
Authorised Capital : £E 300,000,000
Issued Capital : £E 67,000,000
Paid up Capital : £E 67,000,000
Name of Shareholder (s)
· Dr Hassan Abbass
Helmi
· Dr Sherine Hassan
Abbass Helmi
· Commercial
International Investment CIIC
· Amriya Pharmaceutical
Industries
OPERATIONS
Activities: Engaged in the production and export of human pharmaceutical
preparations, including syrups,
suspensions, lotions, drops, topical and nasal sprays, as well as
tablets and capsules.
Import Countries:
Export Countries:
Emirates and
Subject has a workforce of approximately 500 employees.
FINANCIAL
DATA
Companies registered in
BANKERS
·
Egyptian American Bank
PO Box: 1737
Tel: (20-3) 4835008
·
Banque du Caire Barclays Internationale SAE
Garden City
PO Box: 110, Maglis El Shaab
Tel: (20-2) 33542195 / 33549415 / 33549422
Fax: (20-2) 33552746
·
Citibank
95 26th July Street
Azarita
Tel: (20-3) 4834363 / 4840342
Fax: (20-3) 4884363
·
Misr International Bank (MIBANK)
Raml Station
Tel: (20-3)
4828174 / 4828213
Fax: (20-3) 4838216
· Faisal Islamic
Bank of
Tel: (20-2)
22753165 / 22753109
PAYMENT
HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction March
2007
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL
COMMENTS
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.52 |
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|
1 |
Rs.72.72 |
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Euro |
1 |
Rs.64.41 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.