MIRA INFORM
REPORT
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Report Date : |
30.05.2011 |
IDENTIFICATION DETAILS
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Name : |
PHARMACARE EGYPT FOR TRADING AGENCY |
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Registered Office : |
989 Corniche El Nile
Street, El Malek Al Saleh, El Manial, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
27.03.2000 |
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Com. Reg. No.: |
43545, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers and distributors of pharmaceuticals, cosmetics and beauty 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$ 375,000 |
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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
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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 : PHARMACARE EGYPT FOR TRADING AGENCY
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 27th March 2000
Commercial Registration Number : 43545, Cairo
Tax Card Number : 210-237-945
Invested Capital : £E 5,000,000
Total Workforce : 120
Activities : Manufacturers and distributors of pharmaceuticals, cosmetics and
beauty products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 375,000
Person Interviewed : Al Jameel Antar, Finance Manager
COMPANY NAME
PHARMACARE EGYPT FOR TRADING AGENCY
company ADDRESS
Registered & Physical Address
Street : 989 Corniche El Nile Street
Area : El Malek Al Saleh, El Manial
Town : Cairo
Country : Egypt
Telephone : (20-2) 23649485 / 23680019
Facsimile : (20-2) 25322177
Mobile : (20-12) 9776118
Email : pharmacare@link.net / dr.hamdy_pharmacare@yahoo.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Dr
Ossama Sayed Antar Proprietor
·
Dr
Hamdy El Gebeley Marketing
Manager
·
Dr
Ashraf Hanafy Commercial
Manager
·
Al
Jameel Antar Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th
March 2000
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 43545, Cairo
Tax Card No. : 210-237-945
Invested Capital
: £E 5,000,000
Dr Ossama Sayed
Antar is the sole proprietor of the business.
AFFILIATED COMPANIES
·
Ago
Exim Pvt Ltd
233 Swastik Plaza
Subhash Nagar
Pokhran Road No. 2
Thane 400606
India
Tel: (91-22) 21731583 / 21717273
·
Multi
Care
989 Corniche El Nile Street
El Malek El Saleh
El Manial
Cairo
OPERATIONS
Activities: Engaged in the manufacture and distribution
of pharmaceuticals, cosmetics and beauty products.
Import
Countries: India, Greece,
New Zealand and the United States of America.
International
Suppliers:
·
Belcare India
·
Proel Greece
·
Natural Life New
Zealand
·
RX Vitamins United States of America
Export
Countries: Saudi Arabia
Operating Trend: Steady
Subject has a workforce
of 120 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E 53,700,000 £E 60,000,000
Local sources consider
subject’s financial condition to be Good.
The above figures
were provided by Mr Al Jameel Antar, Finance Manager
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.21 |
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UK Pound |
1 |
Rs.74.31 |
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Euro |
1 |
Rs.64.40 |
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.