MIRA INFORM REPORT

 

 

Report Date :

15.02.2012

 

IDENTIFICATION DETAILS

 

Name :

SUNNY PHARMACEUTICALS CO SAE

 

 

Registered Office :

Piece 37 & 38, 100 Fadan, Industrial Zone, Badr City, Cairo

 

 

Country :

Egypt

 

 

Date of Incorporation :

2008

 

 

Com. Reg. No.:

26581, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of pharmaceuticals and medical products

 

 

No. of Employees :

100 Employees.

 

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$ 100,000

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 30, 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                                     : SUNNY PHARMACEUTICALS CO SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 2008

Commercial Registration Number                        : 26581, Cairo

Tax Card Number                                   : 261-905-554

Issued Capital                                        : £E 26,000,000

Paid up Capital                                      : £E 26,000,000

Total Workforce                                     : 100

Activities                                               : Manufacturers of pharmaceuticals and medical products.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 100,000

Person Interviewed                                 : Naghi Najuib, Finance Manager

COMPANY NAME

 

SUNNY PHARMACEUTICALS CO SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Piece 37 & 38, 100 Fadan

Area                 : Industrial Zone, Badr City

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 23108143 / 23108144 / 23108145

Facsimile          : (20-2) 23108140 / 23108148

Mobile               : (20-122) 4201028

Email                : nnajuib@sunnyph.com

 

Premises

 

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       33 Beirut Street                                                                                 Office premises

     Misr El Gedida

     Cairo

     Tel: (20-2) 24188605

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Nazmy Namees Masoud                                                               Chairman

 

·       Dr Kareem Nazmy Namees Masoud                                                   Managing Director

 

·       Dr Ramez Nazmy Namees Masoud                                                    Director

 

·       Dr Tharwat Hakim                                                                              Operations Manager

 

·       Naghi Najuib                                                                                     Finance Manager

 

·       Meri Rasmi Nicole                                                                             Purchasing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2008, production began in January 2012

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 26581, Cairo

 

Tax Card No.               : 261-905-554

 

Issued Capital              : £E 26,000,000

 

Paid up Capital            : £E 26,000,000

 

Name of Shareholder (s)

 

·       Sunny Medical Group

33 Beirut Street

Misr El Gedida

Cairo

Tel: (20-2) 24188605

 

·       Dr Nazmy Namees Masoud

 

·       Dr Kareem Nazmy Namees Masoud

 

·       Dr Ramez Nazmy Namees Masoud

 

·       Local businessmen and private investors

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceuticals and medical products.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 100 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

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.33

UK Pound

1

Rs.77.41

Euro

1

Rs.64.83

 

 

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.