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Report Date : |
31.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ARAB MEDICAL PACKING CO SAE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
23.09.1983 |
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Com. Reg. No.: |
229154, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of pharmaceutical and foodstuff packaging, paper and aluminium foils. |
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No. of Employees : |
345 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1,500,000 |
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Status : |
Good |
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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) |
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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 : ARAB MEDICAL PACKING CO SAE
Doing Business As : FLEXIPACK
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 23rd September 1983
Commercial Registration Number : 229154, Cairo
Tax Card Number : 100-028-136
Industrial Registration Number : 159750
Issued Capital : £E 95,000,000
Paid up Capital : £E 95,000,000
Total Workforce : 345
Activities : Manufacturers of pharmaceutical and foodstuff packaging, paper
and aluminium foils.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,500,000
ARAB MEDICAL PACKING CO SAE
DOING BUSINESS AS: FLEXIPACK
Street : 63A Port
Said Street
Area : El Waily El
Kabir, Hadayek El Qobba
PO Box : 137
Town : Cairo 11331
Country :
Telephone : (20-2)
224221881 / 22421762 / 24242222
Facsimile : (20-2)
224221880
Mobile : (20-100)
6022080 / 6022081
Email : marketing@flexipack_eg.com
/ flxipack@intouch.com
Subject operates from a suite of offices covering an area of 300 square
metres that are rented and located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
· 1st Industrial
Zone, Street No. 92, Plot 46 Owned
factory premises
6th of
October City
Tel: (20-2)
38320581 / 38320582 / 38320583 / 38920581
Fax: (20-2)
38346429 / 38331966 / 38331966
Name Position
· Hani Abdulaziz
Katan Chairman
· Dr Hafez El Ghandour Director
· Dr Samir Thabet Director
· Dr Mohsen Moustafa Director
· Dr Mohamed Amin Mubarak Director
· Fathi Attia Shanab Director
· Hesham Abo Ouf Director
· Ahmed El Anany Director
· Hassan Abd El Meguid Director
· Ibrahim Moustafa Kamal Director
· Tawfik Abu Zaied Shalaby Director
· Hafez Kamel El Ghandour Director
· Mahmoud Mohamed Saleh Director
· Saber Hassanein Director
· Moustafa El Sayed El Shab Director
· Ashour Raslan Finance
Manager
· Hossam Fekry Accounts
Manager
· Saad El Din Mohamed Production
Manager
· Dr Maged Gadallah Sales
Manager
· Youssry Omar Planning
Manager
· Mahmoud Sayed Purchasing
Manager
· Emad Essmat Human
Resources Manager
· Mohamed Abd El Moneim Office
Manager
Date of
Establishment : 23rd
September 1983
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 229154, Cairo
Tax Card No. : 100-028-136
Industrial Reg.
No. : 159750
Authorised Capital : £E 150,000,000
Issued Capital : £E 95,000,000
Paid up Capital : £E 95,000,000
· Acdima 60.00%
24 El Fawala
Street
Cairo
Tel: (20-2)
33914576
· Saudi Egyptian Co
For Industrial Investment 16.80%
· Holding Co for
Food Industries 13.38%
20 Salem Salem
Street
Mohandessin, Giza
Cairo
Tel: (20-2)
27494823
· Holding Co for
Pharmaceutical Chemicals & Medical Appliances 9.82%
Subject is a member of the ACDIMA Group of
companies, which comprises the following concerns:
· Pharmaceutical
Solutions Industries Ltd
Riyadh Industrial
City
PO Box: 17476
Amman
Jordan
Tel: (962-6)
6361383
· Saudi Pharmaceutical
Industries & Medical Appliances Corp (SPIMACO)
Al Akaria
Building, 7th Floor, Tower 2
Salah Aldin Street
PO Box: 20001
Riyadh 11455
Saudi Arabia
Tel: (966-1)
4774481 / 4774483
Fax: (966-1)
4773961
· Medical Union
Pharmaceuticals SAE (PHARMA)
36 Dr Mohamed
Hassan El Gamal Street
6th
District, Nasr City
PO Box: 7010
Cairo
Egypt
Tel: (20-2)
22607418 / 22607419
Fax: (20-2)
22607419
· Arab Anti-Biotic
Manufacturing Co Ltd
ACAI Building
Al Mansoura
PO Box: 6218
Baghdad
Iraq
Tel: (964-1)
7766096
Fax: (964-1)
7768561
· Arab Co for
Medical Appliances (ACMA)
8 El Obour
Building
Salah Salem Street
Cairo
Egypt
Tel: (20-2)
22609081 / 22608222
Fax: (20-2)
22634445
· South Egypt
Industries Co SAE (SEDICO)
3 El Khalifa
Street
PO Box: 43
Cairo
Egypt
Tel: (20-2) 25852319
/ 25861778
Fax: (20-2)
25852319
· National X Ray
Films Co Ltd (ASHAA)
Saudi Arabia
· Arabian Medical
Products Manufacturing Co (INAYA)
Saudi
Arabia
· Arab Chemical
Investments Company (ACIC)
Saudi
Arabia
· Saudi Venture
Capital Group (SVGG)
Saudi Arabia
Activities: Engaged in the manufacture of pharmaceutical and foodstuff packaging,
paper and aluminium foils.
Import Countries: France, Italy, Germany, Switzerland, India, China
and the United Kingdom.
Export Countries: Jordan, Kuwait, Morocco, Saudi Arabia and Yemen
Operating Trend: Steady
Subject has a workforce of approximately 345 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
108,151,340 £E
128,516,720
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on
estimations by our local sources.
·
National Societe Generale Bank SAE
Evergreen Building
10 Talaat Harb
Street
Cairo
Tel: (20-2)
25749376
Fax: (20-2)
25776249 / 25782838
·
National Bank of Egypt
24 Sherif Street
Cairo
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel: (20-2)
33912711 / 33912106
Fax: (20-2)
33919779
·
National Bank of Abu Dhabi
Nile Tower, 18th Floor
21 Giza Street
Cairo
Tel: (20-2) 33609724
No complaints regarding subject’s payments have been reported.
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is 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.51.15 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
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 |
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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 |
|
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 |
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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 |
-- |
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.