MIRA INFORM REPORT
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Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
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Name : |
BORG FOR PHARMACEUTICAL INDUSTRIES |
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Registered Office : |
New Borg El Arab City, 3rd Industrial Zone, Block 17, Plot 3, P O Box
160, Alexandria |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
1999 |
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Com. Reg. No.: |
1228, |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Manufacture of
pharmaceuticals |
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$ 250,000 |
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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
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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 : BORG FOR PHARMACEUTICAL INDUSTRIES
Country of Origin :
Legal Form :
Egyptian Joint Stock Company
Registration Date : 1999
Commercial
Registration Number : 1228,
Issued Capital : £E
50,000,000
Paid up Capital : £E
50,000,000
Total Workforce : 250
Activities :
Manufacture of pharmaceuticals
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 250,000
COMPANY NAME
BORG FOR PHARMACEUTICAL INDUSTRIES
company ADDRESS
Registered & Physical Address
Location : New Borg El
Arab City, 3rd Industrial Zone, Block 17, Plot 3
PO Box : 160
Town :
Country :
Telephone : (20-3) 4596931
/ 4596932 / 4596933 / 4596934
Facsimile : (20-3) 4596930
Premises
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Industrial Area of Alexandria.
Branch Office (s)
Location Description
· 22 Mohamed Saleh
Abu Youssef Rented
Sales Office
El Bostan
Tel: (20-3)
5847019
Fax: (20-3)
5847050
· El
Sarayat El Maadi, Maadi
Tel:
(20-2) 23598548
Fax:
(20-2) 23598548
KEY PRINCIPALS
Name Position
· Dr Hussein Tharwat
Hagar Managing
Director
· Dr Hisham Hussein
Tharwat Hagar Director
· El Sayed Mohamed
Hassan Finance
Manager
· Aml Hamza Administration
Manager
· Ahmed Arous Sales
Manager
· Jental Soltan Production
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1999
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 1228,
Authorised Capital : £E 70,000,000
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
Name of Shareholder
(s)
· Dr Hussein Tharwat
Hagar
· Hisham Hussein
Tharwat Hagar
OPERATIONS
Activities: Engaged in the manufacture of pharmaceuticals, including cough and catarrh
preparations, blood tonics, depuratives and salt tablets.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 250 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales £E
15,000,000 £E
17,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Delta International Bank
El Shallalat Branch
Tel: (20-3) 3938527 / 3938528
Fax: (20-3) 3938543
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of
transaction January
2005
Credit amount 60
days
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
Borg For Pharmaceuticals Industries specialises in the manufacture
of pharmaceuticals, including cough and catarrh preparations,
blood tonics, depuratives, and salt tablets.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.67 |
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|
1 |
Rs.69.45 |
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Euro |
1 |
Rs.59.37 |
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.