MIRA INFORM REPORT

 

 

Report Date :

18.07.2012

 

IDENTIFICATION DETAILS

 

Name :

EUROPEAN EGYPTIAN FOR PHARMACEUTICAL INDUSTRIES SAE

 

 

Formerly Known As :

EUROPEAN EGYPTIAN FOR MEDCIAL INDUSTRIES

 

 

Registered Office :

Alexandria - Cairo Road, Km. 25 Amriya PO Box  111 Alexandria

 

 

Country :

Egypt

 

 

Year of Establishment :

1998

 

 

Com. Reg. No.:

146276, Alexandria

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Production and export of human pharmaceutical preparations.

 

 

No. of Employees :

500

 

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

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : EUROPEAN EGYPTIAN FOR PHARMACEUTICAL INDUSTRIES SAE

Also Known As                                      : EUROPEAN EGYPTIAN FOR MEDCIAL INDUSTRIES

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1998

Commercial Registration Number            : 146276, Alexandria

Tax Card Number                                   : 706-004-132

Authorised Capital                                  : £E 300,000,000

Issued Capital                                        : £E   67,000,000

Paid up Capital                                      : £E   67,000,000

Total Workforce                                     : 500

Activities                                               : Production and export of human pharmaceutical preparations.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

EUROPEAN EGYPTIAN FOR PHARMACEUTICAL INDUSTRIES SAE

 

ALSO KNOWN AS: EUROPEAN EGYPTIAN FOR MEDCIAL INDUSTRIES

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Alexandria - Cairo Road, Km. 25

Area                 : Amriya

 

PO Box             : 111

 

Town                 : Alexandria

Country             : Egypt

 

Telephone         : (20-3) 4700465 / 4701001 / 4700462 / 4700463 / 4700461 / 4701154 / 4700199

Facsimile          : (20-3) 4701146 / 4700156 / 4701003

Mobile               : (20-12) 3993166

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       3 Mohamed Bahaa El Din El Ghatwary Street                                      Rented sales office

Smouha

     Alexandria

     Tel: (20-3) 4206920

     Fax: (20-3) 4701003

 

·       Cairo                                                                                                Rented sales office

Tel: (20-2) 24172648

Fax: (20-2) 22905608

 

·       Tanta                                                                                               Rented sales office

Tel: (20-40) 3416675

Fax: (20-40) 3412155

 

·       Mansoura                                                                                         Rented sales office

Tel: (20-50) 2319123

Fax: (20-50) 2319124

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Hassan Abbass Helmi                                                                   Chairman

 

·       Abdel Moneim El Tokhy                                                                     Managing Director

 

·       Dr Sherine Hassan Abbass Helmi                                                       Director

 

·       Hussein M Hussein                                                                           Plant Manager

 

·       Mohamed Etman                                                                               Research Manager

 

·       Tarek Abd Elmomen                                                                          Engineering Manager

 

·       Raouf Moyasser                                                                                Finance Manager

 

·       Yasser Fayed                                                                                   Marketing Manager

 

·       Mohamed Shawky                                                                             Sales Manager

 

·       Rashad El Bana                                                                                IT Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1998

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 146276, Alexandria

 

Tax Card No.               : 706-004-132

 

Authorised Capital       : £E 300,000,000

 

Issued Capital              : £E   67,000,000

 

Paid up Capital            : £E   67,000,000

 

Name of Shareholder (s)

 

·       Dr Hassan Abbass Helmi

 

·       Dr Sherine Hassan Abbass Helmi

 

·       Commercial International Investment CIIC

 

·       Amriya Pharmaceutical Industries

 

 

OPERATIONS

 

Activities: Engaged in the production and export of human pharmaceutical preparations, including syrups,

     suspensions, lotions, drops, topical and nasal sprays, as well as tablets and capsules.

 

Import Countries: India and Europe

 

Export Countries: Libya, Somalia, Zambia, Ethiopia, Sudan, Lebanon, Saudi Arabia, Yemen, Qatar, United Arab

     Emirates and Romania.

 

Subject has a workforce of approximately 500 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

 

·       Egyptian American Bank

14 Salah Salem Street

PO Box: 1737

Alexandria

Tel: (20-3) 4835008

 

·       Banque du Caire Barclays Internationale SAE

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

 

·       Citibank

95 26th July Street

Azarita

Alexandria

Tel: (20-3) 4834363 / 4840342

Fax: (20-3) 4884363

 

·       Misr International Bank (MIBANK)

33 Safia Zaghloul Street

Raml Station

Alexandria

Tel: (20-3) 4828174 / 4828213

       Fax: (20-3) 4838216

 

·       Faisal Islamic Bank of Egypt

1113 Cornich El Nil Street

Cairo

Tel: (20-2) 22753165 / 22753109

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              March 2007

Credit amount                                        100,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

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.55.15

UK Pound

1

Rs.86.30

Euro

1

Rs.67.73

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.