MIRA INFORM
REPORT
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Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
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Name : |
UTOPIA PHARMACEUTICALS SAE |
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Registered Office : |
Al Mamoun Tower,
4 Hassan Al Mamoun Street, Nasr City, Cairo |
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Country : |
Egypt |
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Year of Establishment : |
2008 |
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Com. Reg. No.: |
34537, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of pharmaceuticals, medicines and healthcare products. |
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$ 150,000 |
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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
|
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 |
Bottom of Form
SUMMARY
Company Name : UTOPIA PHARMACEUTICALS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2008
Commercial Registration Number : 34537, Cairo
Issued Capital : £E 7,000,000
Paid up Capital : £E 7,000,000
Total Workforce : 100
Activities : Manufacturers of pharmaceuticals, medicines and healthcare products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
UTOPIA PHARMACEUTICALS SAE
company ADDRESS
Registered & Physical Address
Building : Al Mamoun Tower
Street : 4 Hassan Al Mamoun Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 26718822
Facsimile : (20-2) 22719802
Mobile : (20-11) 033307
Email : info@utopiapharma.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo. Subject uses a third parties manufacturing facilities.
KEY PRINCIPALS
Name Position
·
Dr
Saeed Kamel Mohamed Chairman
·
Dr
Mohamed Mabrook Chief
Executive Officer
·
Hossam Fikha Finance
Manager
·
Dr Noha
Abdul Shakoor Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2008
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 34537, Cairo
Issued Capital : £E 7,000,000
Paid up Capital : £E 7,000,000
Name of Shareholder
(s)
·
Dr
Saeed Kamel Mohamed
·
Dr
Mohamed Mabrook
·
Local
businessmen and private investors
OPERATIONS
Activities: Engaged in the manufacture of pharmaceuticals,
medicines and healthcare products.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 100 employees.
FINANCIAL DATA
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
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.44.89 |
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UK Pound |
1 |
Rs.73.85 |
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Euro |
1 |
Rs.64.76 |
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.