MIRA INFORM
REPORT
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Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SAFE PHARMA SAE |
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Registered Office : |
2nd Industrial
Zone, Block 31, Area No. 3, New Borg El Arab, P O Box 49, Sidi Gaber, Alexandria
21311 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
115867, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of soft gelatine capsules for vitamins |
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$ 300,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : SAFE PHARMA SAE
Also Known As : SAFE PHARMACEUTICAL PRODUCTS
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1994
Commercial Registration Number : 115867,
Issued Capital : £E 3,200,000
Paid up Capital : £E 3,200,000
Total Workforce : 340
Activities : Manufacture of soft gelatine capsules for vitamins
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
SAFE PHARMA SAE
ALSO KNOWN AS
SAFE PHARMACEUTICAL
PRODUCTS
company ADDRESS
Registered & Physical Address
Location : 2nd Industrial Zone, Block 31,
Area No. 3, New Borg El Arab
PO Box : 49, Sidi Gaber
Town :
Country :
Telephone : (20-3) 4592158 / 4592038 / 4592159 /
4592168
Facsimile : (20-3) 4592161
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Alexandria.
Branch
Offices
Location Description
·
Hadayek El Qobba
Tel: (20-2) 22576194
Fax: (20-2) 22595787
·
496 El
Horreya Road Office
premises
Ramleh
Tel: (20-3) 5863745
Fax: (20-3) 5870958
KEY PRINCIPALS
Name Position
·
Dr Hassan Abbass Helmi Chairman
·
Dr Sherine Hassan Abbass Helmi Vice Chairman
·
Yashar Hassan Abbass Helmi Director
·
Magda
El Seoufy Director
·
Yehia
Motawee Director
·
Hesham
Abd El Salam Factory
Manager
·
Ahmed
Abd El Naby Finance
Manager
·
Ihab
Attya Engineering
Manager
·
Mohsen
El Gamal Administration
Manager
·
Mohamed
Amr Human
Resources Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 115867,
Issued Capital : £E 3,200,000
Paid up Capital : £E 3,200,000
Name of Shareholder
(s) Percentage
·
Dr Hassan Abbass Helmi 51.0%
·
Dr Sherine Hassan Abbass Helmi 19.5%
·
Yashar Hassan Abbass Helmi 19.5%
·
Pharco 10.0%
OPERATIONS
Activities: Engaged in the manufacture of soft gelatine capsules for vitamins.
Import
Countries:
Export Countries:
Operating Trend: Steady
Subject has a
workforce of approximately 340 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 64,400,000 £E 64,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Societe Generale Bank
Roushdy
Tel: (20-3) 5452352 / 5225580 / 5225590
Fax: (20-3) 5455715 / 5452352
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction July
2008
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
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.45.20 |
|
|
1 |
Rs.73.07 |
|
Euro |
1 |
Rs.61.41 |
RATING EXPLANATIONS
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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 |
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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 |
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.