MIRA INFORM REPORT

 

 

Report Date :           

05.10.2011

 

IDENTIFICATION DETAILS

 

Name :

EGYPTIAN CO FOR CHEMICALS & PHARMACEUTICALS (ADWIA)

 

 

Registered Office :

ADWIA Administration Building, 1st Industrial Zone, Al Obour City, P O Box 59, Cairo

 

 

Country :

Egypt 

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1984

 

 

Com. Reg. No.:

50195

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture of human and veterinary pharmaceuticals, animal feed concentrates, pesticides and agriculture pesticides

 

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$ 750,000

 

 

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                                     : EGYPTIAN CO FOR CHEMICALS & PHARMACEUTICALS (ADWIA)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1984

Commercial Registration Number            : 50195

Issued Capital                                        : £E 100,000,000

Paid up Capital                                      : £E 100,000,000

Total Workforce                                     : 300

Activities                                               : Manufacture of human and veterinary pharmaceuticals, animal feed

                                                              concentrates, pesticides and agriculture pesticides.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 750,000

 

 

 

COMPANY NAME

 

EGYPTIAN CO FOR CHEMICALS & PHARMACEUTICALS (ADWIA)

 

 

company ADDRESS

 

Registered & Physical Address

Building             : ADWIA Administration Building

Area                 : 1st Industrial Zone, Al Obour City

PO Box             : 59

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 6100654 / 6100655 / 6100750 / 6100850

Facsimile          : (20-2) 6100663 / 6100851

Email                : adwia@adwia.com / adwia_exp@menanet.net

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are owned and located in the Industrial Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       1st Industrial Zone A2, Area 211                                                          Owned factory premises

     Khoufo Street

     Sharkeya

     Tenth of Ramadan City

     Tel: (20-15) 413104/5/6/7/8 / 362476 / 362475

     Fax: (20-15) 413105/7 / 363635

 

·       30 Mohamed Said El Halawani Street                                     Sales Office

Heliopolis

     Cairo

     Tel: (20-2) 2667596 / 2667476 / 2667469

     Fax: (20-2) 2667596 / 2673696

 

·       El Nile Building                                                                                 Sales Office

     El Gueish Street

     Al Mansoura

     Tel: (20-50) 314340

 

·       Gamal Abdel Nasser Street                                                                Sales Office

     Al Fayoum

     Tel: (20-84) 352794

 

·       Abdel Salam El Shazly Street                                                            Sales Office

Damanhour

     Tel: (20-45) 353069

 

·       Sour El Estad El Riyady                                                                    Sales Office

     Kafr El Sheikh

     Tel: (20-47) 236016

 

·       61 El Gueish Street                                                                           Sales Office

Tanta

     Tel: (20-40) 314839

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Hossam El Din Mohamed Taher                                                         Managing Director

 

·       Sameh Mohamed Taher                                                                     Director

 

·       Ashraf Mohamed Taher                                                                      Director

 

·       Abd El-Rahman El Waraky                                                                Finance Manager

 

·       Emad Sultan                                                                                     Accounts Manager

 

·       Dr Hussein Hammad                                                                         Export Manager

 

·       Dr Medhat Abdou                                                                              Export Sales Manager

 

·       Mrs Ghada Abdel Khalek                                                                   Business Development Manager

 

·       Dr Samir Moussa                                                                              Sales Manager – Animal Health

 

·       Dr Yusri Abdallah                                                                              Sales Manager – Pharmaceuticals

 

·       Dr Samy Mostafa                                                                              Sales Manager – Pesticides

 

·       Dr Mohamed Bahgat                                                                          Commercial Manager

 

·       Dr Fawzy Abdel Latif                                                                         Plant Manager

 

·       Dr Abdel Khalek Halawa                                                                    Production Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1984

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 50195

 

Issued Capital              : £E 100,000,000

 

Paid up Capital            : £E 100,000,000

 

Name of Shareholder (s)                                              Percentage

 

·       Hossam El Din Mohamed Taher                                      80%

 

·       Sameh Mohamed Taher                                                    4%

 

·       Ashraf Mohamed Taher                                                     4%

 

·       Private Investors                                                             12%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of human and veterinary pharmaceuticals, animal feed concentrates,

     pesticides and agriculture pesticides.

 

                 Subject is ISO 14001 and 9001 accredited.

 

Import Countries: Germany and India

 

Export Countries: Subject exports throughout the Middle East, Africa, and Asia, as well as Albania and Malta

 

Brand Names: ADWIA

 

Operating Trend: Steady

 

Subject has a workforce of approximately 300 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 123,250,000                         £E 186,000,000

 

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

 

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

 

 

BANKERS

 

·       Commercial International Bank (CIB)

Nile Tower Building

21-23 Giza Street

PO Box: 2430

Cairo

Tel: (20-2) 25703043

Fax: (20-2) 25703172 / 25072691

 

·       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

 

Egyptian Co For Chemicals & Pharmaceuticals (Adwia) was established in 1984 and has gained a good reputation for the quality of its products. The company specialises in the manufacture of human and veterinary pharmaceuticals, animal feed concentrates, pesticides and agriculture pesticides.

 

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 deemed to be within subject’s financial means.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.23

UK Pound

1

Rs.76.07

Euro

1

Rs.65.06

 

 

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.