MIRA INFORM REPORT

 

 

Report Date :

05.03.2011

 

IDENTIFICATION DETAILS

 

Name :

SABAA INTERNATIONAL CO FOR PHARMACEUTICALS & CHEMICALS INDUSTRIES

 

 

Registered Office :

Villa Al Maden Koliet Al Banat 6 Ahmed Shaker Street Heliopolis PO Box  413 Cairo

 

 

Country :

Egypt

 

 

Year of Establishment :

2000

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture 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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

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                                     : SABAA INTERNATIONAL CO FOR PHARMACEUTICALS & CHEMICALS INDUSTRIES

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 2000

Authorised Capital                                  : £E 50,000,000

Issued Capital                                        : £E 25,000,000

Paid up Capital                                      : £E 25,000,000

Total Workforce                                     : 35

Activities                                               : Manufacture of pharmaceuticals

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

SABAA INTERNATIONAL CO FOR PHARMACEUTICALS & CHEMICALS INDUSTRIES

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Villa Al Maden Koliet Al Banat

Street               : 6 Ahmed Shaker Street

Area                 : Heliopolis

 

PO Box             : 413

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 24148529

Facsimile          : (20-2) 22918390 / 24147619

 

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

 

·       Baltiem Industrial Zone                                                                      Factory premises

Dessouk

     Kafr El Sheikh

     Tel: (20-47) 2518772

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       El Sayed Abd El Nabi Mohamed El Beilly                                            Chairman

 

·       Sahl Morsi Mohamed Morsi El Damrawy                                             Managing Director

 

·       Islam Abu El Maged                                                                          IT Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2000

 

Legal Form                  : Egyptian Joint Stock Company

 

Authorised Capital       : £E 50,000,000

 

Issued Capital              : £E 25,000,000

 

Paid up Capital            : £E 25,000,000

 

Name of Shareholder (s)

 

·       El Sayed Abd El Nabi Mohamed El Beilly

 

·       Sahl Morsi Mohamed Morsi El Damrawy

 

·       Ali Aouf

 

·       Abeer Ezzat Zahran

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceuticals, including catarrh preparations, nerve tonics, depuratives, fish oil preparations and salt tablets.

 

Import Countries: Italy, Austria and India

 

Subject has a workforce of 35 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 du Caire SAE

     19 Adly Street

     Cairo

     Tel: (20-2) 33926915

     Fax: (20-2) 33951713

 

 

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.44.99

UK Pound

1

Rs.73.24

Euro

1

Rs.62.80

 

 

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.