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Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SINA PHARMA |
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Registered Office : |
Saudi Building, 1st Floor, Office No. 4, 9 & 23 El Nozha
Street Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.07.2001 |
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Com. Reg. No.: |
38788, Port Said |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of pharmaceuticals and raw materials as well as packaging products |
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No. of Employees : |
20 |
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$ 150,000 |
|
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 – 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 |
Company Name : SINA PHARMA
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 7th July 2001
Commercial Registration Number : 38788, Port Said
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 20
Activities : Import and distribution of pharmaceuticals and raw materials as well as
packaging products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Fareed Al Khateeb, Finance Manager
SINA PHARMA
Building : Saudi
Building, 1st Floor, Office No. 4, 9 & 23
Street : El Nozha
Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 24184269
/ 22914898
Facsimile : (20-2)
24184269
Mobile : (20-100)
0004023 / (20-106) 5535177
Email : ida_pharm@yahoo.com
/ idapharma@gmail.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Cairo.
Name Position
· Dr Hussain
Hassanien Hassan Managing
Partner
· Dr Hassan
Hassanien Hassan Partner
· Dr Wael El
Murshidi General
Manager
· Fareed Al Khateeb Finance
Manager
· Dr Walid El
Murshidi Commercial
Manager
· Mona Momen Administration
Executive
Date of
Establishment : 7th
July 2001
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 38788, Port Said
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
· Dr Hussain
Hassanien Hassan
· Dr Hassan
Hassanien Hassan
· International Drug
Agency (IDA)
Saudi
Building
23/21
El Nozha Street
Cairo
Tel:
(20-2) 24140953
Fax:
(20-2) 24184269
· Jal Pharm
Saudi Building
23/21 El Nozha
Street
Cairo
Tel: (20-2)
24140953
Fax: (20-2) 24184269
Activities: Engaged in the import and distribution of pharmaceuticals and raw
materials as well as packaging
products.
Import Countries: India
Operating Trend: Steady
Subject has a workforce of 20 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
9,800,000 £E
10,350,000
Local sources consider subject’s financial condition to be Fair.
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
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.49.24 |
|
|
1 |
Rs.76.75 |
|
Euro |
1 |
Rs.65.16 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.