MIRA INFORM REPORT

 

 

Report Date :           

20.05.2011

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL DRUG INDUSTRIES (IDI)

 

 

Registered Office :

Shark El Tafreaa, Port Said

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

October 1995

 

 

Com. Reg. No.:

32983, Port Said

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture of pharmaceutical and medicines

 

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$ 250,000

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                                     : INTERNATIONAL DRUG INDUSTRIES (IDI)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : October 1995

Commercial Registration Number            : 32983, Port Said

Issued Capital                                        : £E 1,500,000

Paid up Capital                                      : £E 1,500,000

Total Workforce                                     : 120

Activities                                               : Manufacture of pharmaceutical and medicines

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 250,000

 

 

 

 

COMPANY NAME

 

INTERNATIONAL DRUG INDUSTRIES (IDI)

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Shark El Tafreaa

Town                 : Port Said

Country             : Egypt

Telephone         : (20-66) 3339666

Facsimile          : (20-66) 3339777

Email                : idipharma@gmail.com / idipharm@yahoo.com

 

Premises

Subject operates from a medium sized suite of offices and a factory that are owned and located in the Industrial Area of Port Said.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Emarat El Sharika El Saudiya                                                            Rented sales office

4 El Nuzha Street

     Cairo

     Tel: (20-2) 24184269 / 22914898

     Fax: (20-2) 24184269

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Dr Hussain Hassanien Hassan                                                           Chairman

 

·       Dr Hassan Hassanien Hassan                                                            Managing Director

 

·       Hussain Salem                                                                                 Production Manager

 

·       Hassan Salem                                                                                  Commercial Manager

 

·       Dr Randa Kamal                                                                                Marketing Manager

 

·       Dr Ahmed Fareed                                                                              Factory Manager

 

·       Fareed Al Khateeb                                                                            Finance Manager

 

·       Khoulod Magdi                                                                                  Administrative Officer

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : October 1995

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 32983, Port Said

 

Issued Capital              : £E 1,500,000

 

Paid up Capital            : £E 1,500,000

 

Name of Shareholder (s)

 

·       Dr Hussain Hassanien Hassan

 

·       Dr Hassan Hassanien Hassan

 

 

AFFILIATED COMPANIES

 

·       International Drug Agency (IDA)

     4 Saudi Co Building

     El Nuzha Street

     Cairo

     Tel: (20-2) 22914898

     Fax: (20-2) 24184269

 

·       Jal Pharma

     Cairo

 

·       Sina Pharma

     Cairo

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceutical and medicines.

 

Import Countries: Germany and Japan

 

Operating Trend: Steady

 

Subject has a workforce of 120 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 18,250,000                           £E 19,000,000

 

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

 

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

 

 

BANKERS

 

·       National Bank of Egypt

24 Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              September 2007

Credit amount                                        100,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

GENERAL COMMENTS

 

International Drug Industries (IDI) commenced operations in October 1995. It is engaged in manufacture of pharmaceutical and medicines.

 

According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk and the above credit figure is admissible.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.98

UK Pound

1

Rs.72.68

Euro

1

Rs.64.16

 

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.