MIRA INFORM REPORT

 

 

Report Date :           

30.11.2011

 

IDENTIFICATION DETAILS

 

Name :

PHARCO B INTERNATIONAL

 

 

Registered Office :

496 El Horreya Road, Boulkley, Ramleh, P O Box 12, Sidi Gaber, Alexandria

 

 

Country :

Egypt

 

 

Year of Establishment :

2004

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Production of pharmaceuticals, cosmetic and veterinary products

 

 

No. of Employees :

250 Persons

 

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$ 500,000

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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                                     : PHARCO B INTERNATIONAL

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 2004

Issued Capital                                        : £E 5,000,000

Paid up Capital                                      : £E 5,000,000

Total Workforce                                     : 250

Activities                                               : Production of pharmaceuticals, cosmetic and veterinary products.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 500,000

 

 

 

COMPANY NAME

 

PHARCO B INTERNATIONAL

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 496 El Horreya Road

Area                 : Boulkley, Ramleh

PO Box             : 12, Sidi Gaber

Town                 : Alexandria

Country             : Egypt

Telephone         : (20-3) 5823745 / 5839670

Facsimile          : (20-3) 5830958

Mobile               : (20-10) 1682024 / 1628026

Email                : info@pharco.com.eg

 

Please note that subject’s previous address was, 61 Ismail Serry Street, Smouha, Alexandria.

 

Premises

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Alexandria.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       New Borg El Arab City, Third Industrial Zone, Plot No. 12/13                 Factory premises

Alexandria

     Tel: (20-3) 4592158 / 4592159 / 4592168 / 4598810

     Fax: (20-3) 4592161 / 4591775

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Dr Hassan Abbass Helmy                                                                  Managing Director

 

·       Dr Shereen Hassan Abbass Helmy                                                     Director

 

·       Dr Aly Abd El Monem                                                                        General Manager

 

·       Dr Wafaa Khalid                                                                                Plant Manager

 

·       Dr Hussein Awad Aly                                                             Production Manager

 

·       Ahmed Alshahawy                                                                            Engineering Manager

 

·       Ahmed Mahmoud Moloukhia                                                              Finance Manager

 

·       Ismail Ahmed                                                                                    Administration Manager

 

·       Fetouh Fathi Soliman                                                                        Accounts Manager

 

·       Amr H Mohamed                                                                               Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2004

 

Legal Form                  : Egyptian Joint Stock Company

 

Issued Capital              : £E 5,000,000

 

Paid up Capital            : £E 5,000,000

 

Name of Shareholder (s)

 

·       Pharco Pharmaceuticals

     496 El Horreya Road

     Boulkley, Ramleh

     PO Box: 12, Sidi Gaber

     Alexandria

     Tel: (20-3) 5823745 / 5821999 / 5839670 / 5863745

     Fax: (20-3) 5830958

 

·       Dr Hassan Abbass Helmy

 

·       Dr Shereen Hassan Abbass Helmy

 

 

OPERATIONS

 

Activities: Engaged in the production of pharmaceuticals, cosmetic and veterinary products.

 

     Subject holds 34 registered products and about 15 products under registration.

 

Import Countries: United Kingdom and India

 

Subject has a workforce of approximately 250 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

 

·       Faisal Islamic Bank of Egypt

7 Victor Pasilly Street

El Azareta

Alexandria

Tel: (20-3) 4911653

 

·       Commercial International Bank (CIB)

61 Sultan Hussein Street

Alexandria

Tel: (20-3) 4824643 / 4834255

Fax: (20-3) 4832240

 

·       Barclays Bank

12 Midan El Sheikh Youssef Street

Garden City

PO Box: 110, Maglis El Shaab

Cairo

Tel: (20-2) 33542195 / 33549415 / 33549422

Fax: (20-2) 33552746

 

 

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 and the above credit figure is within subject’s financial means.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.93

UK Pound

1

Rs.80.62

Euro

1

Rs.69.37

 

 

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.