MIRA INFORM
REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
MULTI APEX PHARMA FOR PHARMACEUTICALS
INDUSTRIES |
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Registered Office : |
31 Ahmed Omar
Bakier Street, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2000 |
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Com. Reg. No.: |
2436 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturer of pharmaceutical products |
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$ 750,000 |
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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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Egypt |
a2 |
a2 |
|
Risk Category |
ECGC Classification |
|
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 : MULTI APEX PHARMA FOR PHARMACEUTICALS INDUSTRIES
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 2000
Commercial Registration Number : 2436
Tax Card Number : 205-122-035
Authorised Capital : £E 200,000,000
Issued Capital : £E 80,000,000
Paid up Capital : £E 80,000,000
Total Workforce : 250
Activities : Manufacture of pharmaceutical products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY
NAME
MULTI APEX PHARMA FOR PHARMACEUTICALS INDUSTRIES
company
ADDRESS
Registered & Physical
Address
Street : 31 Ahmed Omar Bakier Street
Area :
Town :
Country :
Telephone : (20-2) 26388608 / 26388404
Facsimile : (20-2) 26445042
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
Badr City Industrial Zone, Plot
21D
Tel:
(20-2) 28643001/2/3/4/5/6/7/8
Fax:
(20-2) 28643009
·
13
Aflaton Street Office
premises
Tel: (20-2) 24153009
Fax: (20-2) 24153009
KEY
PRINCIPALS
Name Position
·
Dr Ahmed Essam Ragheb El Ezaby Chairman
·
Magdy Ali
·
Amr Yaccout Director
·
Hany Ali Finance
Manager
·
Magdy Diweedar Sales
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 2000
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 2436
Tax Card No. :
205-122-035
Authorised
Capital : £E 200,000,000
Issued Capital : £E
80,000,000
Paid up Capital : £E 80,000,000
Name of Shareholder (s) Percentage
·
Apex
Pharma SAE 50.00%
Tel: (20-2) 26900044 / 24153009
Fax:
(20-2) 4180617
Email:
apex@apexpharma.net
·
Multi
Apex Pharma 46.75%
·
·
Ahmed
Essam Ragheb El Ezaby 0.25%
OPERATIONS
Activities: Engaged in the manufacture
of pharmaceutical products.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 88,162,607 £E 95,607,783
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
HSBC
Bank
Zamalek
Tel: (20-2) 27394748
Fax: (20-2) 27361457
·
National Societe Generale Bank
Tel: (20-2) 27707777
Fax: (20-2) 27707799
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.92 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.