MIRA INFORM
REPORT
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Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
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Name : |
TENTH OF RAMADAN FOR PHARMACEUTICAL
INDUSTRIES & DIAGNOSTIC REAGENTS (RAMEDA) |
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Registered Office : |
2nd
Industrial Zone, Plot No.5, Street No. 20, Giza, 6th
of October City |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1988 |
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Com. Reg. No.: |
84008 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and export of pharmaceuticals and diagnostic chemicals |
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No. of Employees
: |
650 |
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$ 750,000 |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company Name :
TENTH OF RAMADAN FOR PHARMACEUTICAL INDUSTRIES
&
DIAGNOSTIC REAGENTS (RAMEDA)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1988
Commercial Registration Number : 84008
Tax Card Number : 100-330-096
Issued Capital : £E 200,000,000
Paid up Capital : £E 200,000,000
Total Workforce : 650
Activities : Manufacture and export of pharmaceuticals and diagnostic chemicals.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
TENTH OF RAMADAN FOR
PHARMACEUTICAL INDUSTRIES & DIAGNOSTIC REAGENTS (RAMEDA)
Registered &
Physical Address
Location : 2nd
Industrial Zone, Plot No.5, Street No. 20
Area : Giza
Town : 6th
of October City
Country : Egypt
Telephone : (20-2) 38331848
/ 38331849 / 38331766 / 38331773
Facsimile : (20-2) 38335606
/ 38331766
Mobile : (20-100) 1015501
Email : adibkh2000@yahoo.com
Premises
Subject operates
from a suite of offices and a factory covering an area of 33,000 square metres
that are owned and located in the Industrial Area of the 6th of October City.
Branch Office (s)
Location Description
·
40 A Mohamed Mazhar Street Rented
office premises
Zamalek
Cairo
Tel: (20-2) 27382190
/ 27382191
Fax: (20-2) 27355534
·
8
Gezert El Arab Street Rented office premises
Mohandessin, Giza
Cairo
Tel: (20-2) 37613048 / 37613058
Fax: (20-2) 37613018
Name Position
·
Ayman Mamdouh Abbas Chairman
·
Amr Abdallah Moursy Managing
Director
·
Hassan Mahmoud Director
·
Juma Abel Director
·
Adel Metawea Director
·
Shafik Balbaa Director
·
Farouk Ghourab Director
·
Dr Amer Adib Morsi General
Manager
·
Dr Adeeb Khalil Finance
Manager
·
Tarek Gharib Accounts
Manager
·
Dr Mohamed Moustafa El Barky Factory
Manager
·
Hefny Ahmed Administration
Manager
·
Ahmed Abdul Aal Human
Resources Manager
Date of Establishment : 1988
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 84008
Tax
Card No. : 100-330-096
Issued Capital : £E 200,000,000
Paid up Capital : £E 200,000,000
Name of
Shareholder (s)
·
Raya Holding for Technology &
Communication
Cairo
·
Cravel Limited
United
Kingdom
·
Sayed
Shamel Fahim Abu El Fadl
Activities: Engaged in the
manufacture and export of pharmaceuticals and diagnostic chemicals.
The following is a list of licensing companies:
1.
Alcon International (Belgium)
2. Axcan Pharma (Canada)
3. Laboratoire du Docteur Bouchara (France)
4. Krka Novomeisto (Slovenia)
A. Sterile areas for the production of:
1.
Eye Drops: (12.000.000 unit annual capacity) where the products of the leading pharmaceutical
company (Alcon) are manufactured according to the latest technology in this
field.
2. Injectable Cephalosporins:
(12.000.000 unit annual capacity)
Where our range of injectables is produced by the most sophisticated technology
in this field.
B. Production Lines for:
•
Solid Forms: (Tablets, Capsules, Powders).
• Liquid Forms: (Syrup & Suspensions).
• Dermatologicals: (Ointment, Cream, Gel).
• Diagnostics.
Import
Countries: United States of
America, Japan and India.
Export
Countries: Yemen, Iraq, Libya and Somalia.
Operating Trend: Steady
Subject has a
workforce of approximately 650 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales £E 65,000,000 £E 90,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Arab
Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 33029069 / 33029070
Fax: (20-2) 33029068
No complaints
regarding subject’s payments have been reported.
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.51.42 |
|
UK Pound |
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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.