MIRA INFORM REPORT

 

 

Report Date :

16.02.2011

 

IDENTIFICATION DETAILS

 

Name :

HEXAL EGYPT SAE

 

 

Registered Office :

12 El Rabiee Street, Ismail El Kabbany Street, 1st Floor, 1st Region, Nasr City, Cairo 11371

 

 

Country :

Egypt

 

 

Year of Establishment :

1998

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Distributors of pharmaceuticals and medical products

 

 

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$ 150,000

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                         : HEXAL EGYPT SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1998

Issued Capital                                        : £E 200,000

Paid up Capital                                      : £E 200,000

Total Workforce                         : 25

Activities                                               : Distributors of pharmaceuticals and medical products.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

 

COMPANY NAME

 

HEXAL EGYPT SAE

 

 

company ADDRESS

 

Registered & Physical Address

Location            : 12 El Rabiee Street, Ismail El Kabbany Street, 1st Floor, 1st Region

Area                 : Nasr City

Town                 : Cairo 11371

Country : Egypt

Telephone         : (20-2) 24043548

Facsimile          : (20-2) 24043609

Email                : sany@hexalegypt.com

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Cairo.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Dr Fareed Issa                                                                                  General Manager

 

·       Amr El Gohary                                                                                  Marketing Manager

 

·       Rania Hassan                                                                                   Human Resources Manager

 

·       Mohamed Adri                                                                                  Finance Manager

 

·       Reham Reel                                                                                      Assistant Financial Manager      

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1998

 

Legal Form                  : Egyptian Joint Stock Company

 

Issued Capital              : £E 200,000

 

Paid up Capital            : £E 200,000

 

Name of Shareholder (s)                                          Percentage

 

·       Sandoz International GmbH                                        100%

Industriestrasse 25

83607 Holzkirchen

Germany

Tel : (49-8024) 4760

Fax : (49-8024) 4762599

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of pharmaceuticals and medical products, including injectables,

                 inhalers and transdermal patches.

 

Import Countries: Germany

 

Subject has a workforce of 25 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

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local informants reported that the address 51 Beirut Street, 2nd Floor, Heliopolis, Cairo is a previous address of the subjects and has no link to the subject now.

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.50

UK Pound

1

Rs.73.07

Euro

1

Rs.61.63

 

 

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.