MIRA INFORM REPORT

 

 

Report Date :

21.07.2011

 

IDENTIFICATION DETAILS

 

Name :

THE ARAB CO FOR GELATIN PHARMACEUTICAL PRODUCTS SAE (ARAB CAPS)

 

 

Registered Office :

El Nassereya Industrial Zone, Amreya, Alexandria

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

1983

 

 

Com. Reg. No.:

109983, Alexandria

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture of Pharmaceutical Gelatine Capsules

 

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$ 1,000,000

Status :

Satisfactory

Payment Behaviour :

Usually correct

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

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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                                     : THE ARAB CO FOR GELATIN PHARMACEUTICAL PRODUCTS SAE

                                                  (ARAB CAPS)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1983

Commercial Registration Number            : 109983, Alexandria

Industrial Registration Number                 : 133880

Tax Card Number                                   : 100-135-404

Chamber Licence Number                       : 0623

Issued Capital                                        : £E 35,000,000

Paid up Capital                                      : £E 35,000,000

Total Workforce                                     : 450

Activities                                               : Manufacture of pharmaceutical gelatine capsules.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,000,000

 

 

COMPANY NAME

 

THE ARAB CO FOR GELATIN PHARMACEUTICAL PRODUCTS SAE (ARAB CAPS)

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : El Nassereya Industrial Zone, Amreya

 

Town                 : Alexandria

Country             : Egypt

 

Telephone         : (20-3) 4480101 / 4480102 / 4481511 / 5799385

Facsimile          : (20-3) 4480807 / 4765907

Mobile               : (20-10) 1643200

Email                : arabcaps@alexcomm.net

 

Premises

 

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Alexandria.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       14 Sayed Darwesh                                                                            Sales Office

Tawfikeya

     Cairo

     Tel: (20-2) 25787601 / 25765907 / 25799385

     Fax: (20-2) 25765907

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Hosny Helal Ibrahim                                                                          Chairman

 

·       Ahmed Mamdouh Hamed                                                                   Director

 

·       Dr Gamal El Din Mahmoud Ghaly                                                       Director

 

·       Adel Ahmed Adel                                                                              Director

 

·       Adel Abd El Halim Moustafa                                                               Director

 

·       Mona Mohamed Ayed Tolba                                                               Director

 

·       Dr Magdy Hassan Ahmed                                                                  Director

 

·       Dr Salah Medhat Salah El Din El Sharawy                                           Director

 

·       Dr Mamdouh Abbass Mohamed Ibrahim                                              Director

 

·       Dr Mamdouh Abd El Razek Moustafa                                                  Director

 

·       Ayman Mohamed Ezzat                                                                    Cairo Branch Manager

 

·       Hady Zaki                                                                                         Finance Manager

 

·       Dr Khaled El Menshawy                                                                     Production Manager

 

·       Dr Hany Naguib                                                                                 Quality Manager

 

·       Read El Shamy                                                                                 Purchasing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1983

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 109983, Alexandria

 

Industrial Reg. No.       : 133880

 

Tax Card No.               : 100-135-404

 

Chamber Lic. No.         : 0623

 

Issued Capital              : £E 35,000,000

 

Paid up Capital            : £E 35,000,000

 

Name of Shareholder (s)

 

·       Arab Co for Drug Industries & Medical Appliances (ACDIMA)

24 El Fawala Street

Cairo

Tel: (20-2) 33914576

 

·       Holding Company for Pharmaceuticals Chemicals & Medical Appliances

12 Waked Street

       Cairo

       Egypt

       Tel: (20-2) 25885135 / 25912825 / 25935533

       Fax: (20-2) 25916866

       Email: galaldhc@drugholding.org

 

·       Nile Pharmaceuticals & Chemical Industries

 

·       Cairo Pharmaceuticals & Chemical Industries

 

·       Arab Drugs & Chemical Industries

 

·       Gomhouria for Pharmaceuticals, Chemicals & Medical Appliances Trading

 

·       CID Pharmaceuticals

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceutical gelatine capsules.

 

                 Subject is ISO 9002, 14001 and 18001 accredited.

 

Import Countries: France and Germany.

 

Export Countries: Syria, Sudan, Yemen and Saudi Arabia.

 

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 58,300,000                           £E 60,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Banque Misr

El Hanoville Street

Agami

Alexandria

Tel: (20-3) 4302697

 

·       National Bank of Egypt

177 Mostafa Kamel Street

Alexandria

Tel: (20-3) 5701930

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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 and the above credit figure is within subject’s financial means.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.46

UK Pound

1

Rs.71.67

Euro

1

Rs.62.94

 

 

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

--

NB

                                       New Business

 

--

 

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.