MIRA
INFORM REPORT
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Report Date : |
21.07.2011 |
IDENTIFICATION DETAILS
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Name : |
EGYPTIAN GROUP FOR PHARMACEUTICAL INDUSTRIES SAE |
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Registered Office : |
28 El |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2002 |
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Com. Reg. No.: |
1942 |
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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$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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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, 2010
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 :
EGYPTIAN GROUP FOR PHARMACEUTICAL INDUSTRIES SAE
Country of Origin :
Legal Form :
Egyptian Joint Stock Company
Registration Date :
2002
Commercial Registration Number :
1942
Tax Card Number :
205-066-925
Issued Capital :
£E 443,000,000
Paid up Capital :
£E 443,000,000
Total Workforce :
450
Activities :
Manufacture of pharmaceuticals.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 400,000
COMPANY NAME
EGYPTIAN GROUP FOR PHARMACEUTICAL INDUSTRIES SAE
company ADDRESS
Registered & Physical Address
Building : 28 El Obour
Buildings, 10th Floor
Street :
Area :
Town :
Country :
Telephone : (20-2) 24042012
/ 22404836 / 24048936
Facsimile : (20-2)
24048360 / 22628686 / 22606570
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
·
2nd Industrial
Zone, El
Tel: (20-2)
44782937 / 44782938 / 44782945
Fax: (20-2)
44782939
·
KEY PRINCIPALS
Name Position
· Dr Youssef Badran Chairman
· Dr Tarek Omar Managing
Director
· Dr Mohamed El
Barbary Director
· Dr Niazi Zakaria
El Ghaffar Director
· Sohir Abu El
Hassan Director
· Wael Hassan Finance
Manager
· Khaled El Shaier Purchasing
Manager
· Sameh Ali Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2002
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 1942
Tax Card No. : 205-066-925
Issued Capital : £E 443,000,000
Paid up Capital : £E 443,000,000
Name of Shareholder (s) Percentage
· Dr Youssef Badran 25%
· Dr Tarek Omar 25%
· Dr Mohamed El
Barbary 25%
· Dr Niazi Zakaria
El Ghaffar 25%
OPERATIONS
Activities: Engaged in the manufacture of pharmaceuticals, specialising in
preparations for ophthalmology, ear, nose and throat and dentistry.
Import Countries:
Operating Trend: Steady
Subject has a workforce of approximately 450 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
28,750,000 £E
34,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Ahli United Bank
64 Gamaet El Dewal
Mohandessin,
Tel: (20-2)
37491751
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
According to local sources subject is making steady progress in the local
business market and nothing detrimental has been reported regarding the manner
in which payments are fulfilled. As such the business is considered to be a
fair trade risk.
The above credit figure is higher than transactions previously seen and
a measure of caution would be prudent given the magnitude of the transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.46 |
|
|
1 |
Rs.71.67 |
|
Euro |
1 |
Rs.62.94 |
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.