MIRA INFORM
REPORT
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Report Date : |
05.07.2011 |
IDENTIFICATION DETAILS
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Name : |
MARCYRL PHARMACEUTICALS INDUSTRIES SAE |
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Registered Office : |
32 Talaat Harb
Street, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
33613, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of human pharmaceuticals and veterinary
preparations |
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$ 600,000 |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Egypt |
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 : MARCYRL PHARMACEUTICALS INDUSTRIES SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1998
Commercial Registration Number : 33613, Cairo
Tax Card Number : 205-131-794
Issued Capital : £E 56,811,000
Paid up Capital : £E 56,811,000
Total Workforce : 250
Activities : Manufacturers of human pharmaceuticals and veterinary preparations.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 600,000
COMPANY NAME
MARCYRL
PHARMACEUTICALS INDUSTRIES SAE
company ADDRESS
Registered & Physical Address
Location : 32 Talaat Harb Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 25758027
Facsimile : (20-2) 25680876
Email : marcyrl_co@yahoo.com / hsoeg@hsoeg.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
2nd
Industrial Zone, Plot No. 7/8 extension
Block 20005 Factory
premises
El Obour City
Cairo
Tel: (20-2) 46651641 / 46651648
Fax: (20-2) 46651650
·
Sheraton
Buildings, Building No. 8C Office
premises
Square No. 1227
Heliopolis
Cairo
Tel: (20-2) 22678596
Fax: (20-2) 22678595
KEY PRINCIPALS
Name Position
·
Farid
Habib Chairman
·
Wagdy
Mounir Director
·
Saad
Ibrahim Director
·
Medhat
Fawzy Finance
Manager
·
Makram
Zarif Export
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 33613
Tax Card No. : 205-131-794
Issued Capital : £E 56,811,000
Paid up Capital : £E 56,811,000
Name of Shareholder
(s) Percentage
·
Farid
Habib 33.34%
·
Wagdy
Mounir 33.33%
·
Saad
Ibrahim 33.33%
OPERATIONS
Activities: Engaged in the manufacture of human pharmaceuticals
and veterinary preparations.
Subject is ISO 9001 accredited.
Import
Countries: India, China,
Switzerland, Germany and Italy.
Export
Countries: Lebanon, Saudi
Arabia, Yemen, Jordan and Venezuela.
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 58,800,000 £E 64,000,000
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 Banque
5 Champollion Street
Cairo
Tel: (20-2) 27707777
Fax: (20-2) 27702664
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.46 |
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|
1 |
Rs.71.53 |
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Euro |
1 |
Rs.64.63 |
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.