MIRA INFORM
REPORT
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Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
JEDCO INTERNATIONAL PHARMACEUTICALS CO |
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Registered Office : |
25 El Obour
Building, 8th Floor, Salah Salem Street, Nasr City, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2000 |
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Com. Reg. No.: |
335488, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturer of pharmaceuticals |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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) |
|
Egypt |
a2 |
a2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 : JEDCO INTERNATIONAL PHARMACEUTICALS CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2000
Commercial Registration Number : 335488, Cairo
Issued Capital : £E 33,000,000
Paid up Capital : £E 33,000,000
Total Workforce : 100
Activities : Manufacturer of pharmaceuticals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
COMPANY NAME
JEDCO INTERNATIONAL
PHARMACEUTICALS CO
company ADDRESS
Registered & Physical Address
Building : 25 El Obour Building, 8th Floor
Street : Salah Salem Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22633529 / 22634090 / 24051330
Facsimile : (20-2) 22633529 / 24051330
Mobile : (20-10) 6803547 / (20-12)
797904
Email : gm@jedcopharma-eg.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
Public Free
Zone, Nasr City Factory
premises
Cairo
Tel: (20-2) 26705379 /
26705380 / 26705381
Fax: (20-2) 26705378
KEY PRINCIPALS
Name Nationality Position
·
Shaly
Attia Al Jeddani Saudi Managing
Partner
·
Dr
Mohamed Hassan Nakadi - General Manager
·
Dr Imad
Nabawi - Commercial
Manager
·
Dr
Narmin Mohamed - Sales
Manager
·
Saber
Diab - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2000
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 335488, Cairo
Issued Capital : £E 33,000,000
Paid up Capital : £E 33,000,000
Name of Shareholder
(s)
·
Shaly
Attia Al Jeddani
·
Members
of Mr Shaly Attia Al Jeddani’s family
OPERATIONS
Activities: Engaged in the manufacture of pharmaceuticals,
including empty gelatine capsules.
Import
Countries: Saudi Arabia,
India, China, South Korea and Canada
Export
Countries: Saudi Arabia,
Bahrain, Kuwait, United Arab Emirates, Oman, Qatar, Yemen, Lebanon, Ethiopia
and Zambia
Operating Trend: Steady
Subject has a
workforce of approximately 100 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 15,554,000 £E 16,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Faisal
Islamic Bank of Egypt
1113 Corniche El Nil Street
Cairo
Tel: (20-2) 22753165
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.68 |
|
UK Pound |
1 |
Rs.73.05 |
|
Euro |
1 |
Rs.64.29 |
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 |
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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 |
|
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 |
|
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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.