|
Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
ISLAMIC PHARMACEUTICALS CHEMICALS &
MEDICAL SUPPLIES CO SAE |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
1984 |
|
|
|
|
Com. Reg. No.: |
221697, Alexandria |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Production of medical products |
|
|
|
|
No. of Employees : |
2,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : ISLAMIC PHARMACEUTICALS CHEMICALS & MEDICAL SUPPLIES
CO SAE
Also Known As : PHARCO PHARMACEUTICALS
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1984
Commercial Registration Number : 221697, Alexandria
Authorised Capital : £E 1,000,000,000
Issued Capital : £E 500,000,000
Paid up Capital : £E 500,000,000
Total Workforce : 2,000
Activities : Production of medical products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ISLAMIC
PHARMACEUTICALS CHEMICALS & MEDICAL SUPPLIES CO SAE
PHARCO
PHARMACEUTICALS
Registered &
Physical Address
Street : 496 El Horreya Road
Area : Boulkley, Ramleh
PO Box : 12, Sidi Gaber
Town : Alexandria
Country :
Telephone : (20-3) 5823745 / 5821999 / 5839670 /
5863745
Facsimile : (20-3) 5830958
Mobile : (20-122) 3931000 / 3175550 /
(20-100) 1628026
Email : pharco@pharco.com.eg / contact@pharco.org
Premises
Subject operates
from a large suite of offices that are owned and located in the Central
Business Area of Alexandria.
Branch Office (s)
Location Description
·
Alexandria-Cairo
Desert Road, Km-31, Plot 8-15 Owned
factory premises
Amreya
Tel: (20-3) 4480440 / 4480720
/ 44800130 / 4480140
Fax: (20-3) 4480730 / 4486560
·
2 El
Gomhoureya Square Rented
office premises
Hadayek El Qobba
Tel: (20-2) 23920845 / 23920529
Fax: (20-2) 24486560
Name Position
·
Dr
Hassan Abbas Helmi Chairman
·
Yasha
Hassan Abbas Helmi Vice
Chairman
·
Dr
Sherine Hassan Abbas Helmi Director
·
Abdel
Moneim El Toukhi Director
·
Mamdouh
Abbass Labib Director
·
Adel
Hamed Hamza Director
·
El
Prince Mahmoud Tawfik Director
·
Mohamed
Youssef Projects
Manager
·
Dr
Mohamed Ibrahim Hamza Planning
Manager
·
Fayez
El Sobky Administration
Manager
·
Nagi El
Saif Operations
Manager
·
Mohamed
Rakha Export
Manager
·
Ahmed
El Sayed Ahmed El Shahawi Maintenance
Manager
·
Diaa El
Din Ibrahim Branch
Manager – Cairo
·
Amriya
Pharmaceuticals
·
European
Egyptian Pharmaceuticals
·
Safe
Pharma
·
Pharco
B International
·
Techno
Pharma Egypt
·
Pharco
Impex 93 Srl
·
Abou
Kir Trading
Date of Establishment : 1984
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 221697,
Alexandria
Authorised
Capital : £E 1,000,000,000
Issued Capital : £E
500,000,000
Paid up Capital : £E 500,000,000
Name of Shareholder
(s) Percentage
·
Dr
Hassan Abbas Helmi 72%
·
Dr
Sherine Hassan Abbas Helmi 10%
·
Yasha
Hassan Abbas Helmi 10%
·
Local
businessmen and private investors 7%
·
Company
Employee’s Fund 1%
Activities: Engaged in the manufacture and marketing of
over 150 medical products, including carbohydrates,
proteins and enzymes,
barbiturates, sulphonamides, glycacoides, antibiotics, penicillin, as well as
pharmaceutical preparations
for the cardio-vascular system and chemotherapeutic agents.
Subject’s agents
include:
·
International
Trading Pharmaceuticals Laboratories Inc.
·
Tunsal
International Company Limited
·
Pharmaplus
Pharmaceuticals & Beauty Care LTD
·
Ramada
Trading Co
·
El Nasr
Export Import Co
·
Pharco
Pharmaceuticals Uganda LTD
·
Medix
International
·
Soprophal
Spa
·
U.M.A
Line Group
·
·
Modern
Drug Store
·
·
Abdulrehman
Algosaibi General Trading Bureau
·
Gulf
Drug LLC
·
Boushahri
Group WLL
·
Jaffar
Pharmacy
·
Muttrah
Pharmacy LLC
·
Al Fath
Trading Co
Import
Countries: Germany, France,
Italy, the Netherlands, Austria and the United States of America.
International
Suppliers:
·
Mead
Johnson
·
Duphar
·
Biochemee
·
Merz
·
Latema
Export
Countries: Subject exports
to over 30 countries covering Africa, the Middle East, Europe and the United
States of
America.
Operating Trend: Steady
Subject has a
workforce of approximately 2,000 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 377,500,000 £E 382,400,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Faisal
Islamic Bank of
El Azareta
Tel: (20-3) 4911653
·
Commercial
International Bank (CIB)
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
·
National
Societe Generale Banque SAE
PO Box: 2664
Tel: (20-2) 25749376
Fax: (20-2) 25776249
·
Banque
du Caire SAE
Sesostris
Branch
Tel:
(20-3) 5744532
·
Citibank
95, 26th July Street
Azarita
Tel: (20-3) 4834363 / 4840342
Fax: (20-3) 4884363
Subject’s payment record
is reported to be met in a generally prompt manner.
Amount overdue 0 0 0
Payment terms 60
days 90 days 60 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints
Currency Pounds
Sterling US Dollars US Dollars
Pharco Pharmaceuticals is one of the largest Egyptian companies in the field of pharmaceutical products, and was ranked as the second best selling Egyptian pharmaceutical company in 2000, with exports being sent to over 30 countries.
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.56.31 |
|
UK Pound |
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.