MIRA INFORM REPORT

 

 

Report Date :

29.07.2011

 

IDENTIFICATION DETAILS

 

Name :

TIBA PHARMACEUTICAL INDUSTRIES SAE

 

 

Registered Office :

Serag Mall, Entrance No. 3, 9th Floor, Suite No. 97, Tower No. 2 Makram Ebid Street Nasr City Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1995

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of pharmaceuticals.

 

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$ 150,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

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                         : TIBA PHARMACEUTICAL INDUSTRIES SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1995

Commercial Registration Number            : 7239

Issued Capital                                        : £E 200,000,000

Paid up Capital                                      : £E 200,000,000

Total Workforce                         : 110

Activities                                               : Manufacturers of pharmaceuticals.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 150,000

COMPANY NAME

 

TIBA PHARMACEUTICAL INDUSTRIES SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Building : Serag Mall, Entrance No. 3, 9th Floor, Suite No. 97, Tower No. 2

Street               : Makram Ebid Street

Area                 : Nasr City

 

Town                 : Cairo

Country : Egypt

 

Telephone         : (20-2) 26705571

Facsimile          : (20-2) 26705572

Mobile               : (20-10) 1288266

Email                : info@tibapharm.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Cairo.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Ahmed Mahmoud Makled                                                              Chairman

 

·       Sekina Ahmed Samaha                                                                     Director

 

·       Abeer Mukhtar Mohamed Makled                                                       Director

 

·       Nabil Abd El Hamid                                                                           Finance Manager

 

·       Mohamed Magdy Abd El Fattah                                                         Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1995

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 7239

 

Issued Capital              : £E 200,000,000

 

Paid up Capital            : £E 200,000,000

 

Name of Shareholder (s)                                            Percentage

 

·       Dr Ahmed Mahmoud Makled                                                  80%

 

·       Abeer Mukhtar Mohamed Makled                                           10%

 

·       Sekina Ahmed Samaha                                                           5%

 

·       Local businessmen and private investors                                   5%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceuticals, including barbiturates, sulphonamides, glycosides,

                 alkaloids and antibiotics.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 110 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 14,916,461                           £E 17,123,811

 

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

 

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

BANKERS

 

·       Export Development Bank of Egypt

108 Mohi El Din Abu El Ezz Street

       Mohandessin

       Cairo 11111

       Tel: (20-2) 33619005 / 33385877

       Fax: (20-2) 33385940 / 33385938

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.12

UK Pound

1

Rs.72.05

Euro

1

Rs.63.33

 

 

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.