MIRA INFORM REPORT

 

 

Report Date :           

10.08.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

TENTH OF RAMADAN FOR PHARMACEUTICAL INDUSTRIES & DIAGNOSTIC REAGENTS (RAMEDA)

 

 

Registered Office :

2nd Industrial Zone, Plot No.5, Street No. 20, Giza, 6th of October City

 

 

Country :

Egypt

 

 

Year of Establishment :

1988

 

 

Com. Reg. No.:

84008

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture and export of pharmaceuticals and diagnostic chemicals

 

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$ 750,000

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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                         : TENTH OF RAMADAN FOR PHARMACEUTICAL INDUSTRIES &

                                                            DIAGNOSTIC REAGENTS (RAMEDA)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1988

Commercial Registration Number            : 84008

Tax Card Number                                   : 100-330-096

Issued Capital                                        : £E 120,000,000

Paid up Capital                                      : £E 120,000,000

Total Workforce                                     : 450

Activities                                               : Manufacture and export of pharmaceuticals and diagnostic chemicals.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 750,000

 

 

 

COMPANY NAME

 

TENTH OF RAMADAN FOR PHARMACEUTICAL INDUSTRIES & DIAGNOSTIC REAGENTS (RAMEDA)

 

 

company ADDRESS

 

Registered & Physical Address

Location            : 2nd Industrial Zone, Plot No.5, Street No. 20

Area                 : Giza

Town                 : 6th of October City

Country             : Egypt

Telephone         : (20-2) 38331848 / 38331849 / 38331766 / 38331773

Facsimile          : (20-2) 38335606 / 38331766

Mobile               : (20-10) 1015501

Email                : adibkh2000@yahoo.com

 

Premises

 

Subject operates from a large suite of offices and a factory covering an area of 33,000 square metres that are owned and located in the Industrial Area of the 6th of October City.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       40 A Mohamed Mazhar Street                                                            Rented office premises

Zamalek

     Cairo

     Tel: (20-2) 27382190 / 27382191

     Fax: (20-2) 27355534

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Zeyad Hassan El Rawashda                                                               Chairman

 

·       Moustafa Wafaie Abd El Rahman                                                       Managing Director

 

·       Hassan Mahmoud                                                                             Director

 

·       Juma Abel                                                                                        Director

 

·       Adel Metawea                                                                                   Director

 

·       Shafik Balbaa                                                                                   Director

 

·       Farouk Ghourab                                                                                Director

 

·       Dr Amer Adib Morsi                                                                           General Manager

 

·       Dr Adeeb Khalil                                                                                 Finance Manager

 

·       Tarek Gharib                                                                         Accounts Manager

 

·       Dr Mohamed Moustafa El Barky                                                         Factory Manager

 

·       Ramadan Abbass                                                                              Administration Manager

 

·       Ahmed Abdul Aal                                                                              Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1988

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 84008

 

Tax Card No.               : 100-330-096

 

Issued Capital              : £E 120,000,000

 

Paid up Capital            : £E 120,000,000

 

Name of Shareholder (s)

 

·       Raya Communication Group

Cairo

 

·       Garavilli Investment Ltd

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and export of pharmaceuticals and diagnostic chemicals.

 

The following is a list of licensing companies:

1. Alcon International (Belgium)
2. Axcan Pharma (Canada)
3. Laboratoire du Docteur Bouchara (France)
4. Krka Novomeisto (Slovenia)

A. Sterile areas for the production of:

1. Eye Drops: (12.000.000 unit annual capacity) where the products of the leading pharmaceutical company (Alcon) are manufactured according to the latest technology in this field.
2. Injectable Cephalosporins:
(12.000.000 unit annual capacity)
Where our range of injectables is produced by the most sophisticated technology in this field.

B. Production Lines for:

• Solid Forms: (Tablets, Capsules, Powders).
• Liquid Forms: (Syrup & Suspensions).
• Dermatologicals: (Ointment, Cream, Gel).
• Diagnostics.

Import Countries: United States of America, Japan and India.

 

Export Countries: Yemen, Iraq, Libya and Somalia.

 

Subject has a workforce of approximately 450 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.

 

 

BANKERS

 

·       National Bank of Egypt

24 Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

·       Commercial International Bank (CIB)

Nile Tower Building

21-23 Giza Street

PO Box: 2430

Cairo

Tel: (20-2) 25703043

Fax: (20-2) 25703172 / 25072691

 

·       Arab Bank Plc

PO Box: 68

Cairo

Tel: (20-2) 33029069 / 33029070

     Fax: (20-2) 33029068

 

 

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 and the above credit figure is within subject’s financial means.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.17

UK Pound

1

Rs.73.72

Euro

1

Rs.64.26

 

 

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.