MIRA INFORM REPORT

 

 

Report Date :

09.05.2012

 

IDENTIFICATION DETAILS

 

Name :

MULTIPHARMA CO SAE

 

 

Registered Office :

Multipharma Building, 6C Taksim Asmaa Fahmy Street, Heliopolis, P O Box 1119, Cairo 11371

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1992

 

 

Com. Reg. No.:

272333, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of pharmaceutical preparations

 

 

No. of Employees :

1,300

 

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)

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                                     : MULTIPHARMA CO SAE

Also Known As                                      : MULTIPHARMA FOR PHARMACEUTICALS

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1992

Commercial Registration Number            : 272333, Cairo

Tax Card Number                                   : 200-053-094

Issued Capital                                        : £E 120,000,000

Paid up Capital                                      : £E 120,000,000

Total Workforce                                     : 1,300

Activities                                               : Manufacturers of pharmaceutical preparations.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

 

 

COMPANY NAME

 

MULTIPHARMA CO SAE

 

 

ALSO KNOWN AS

 

MULTIPHARMA FOR PHARMACEUTICALS

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Multipharma Building

Street               : 6C Taksim Asmaa Fahmy Street

Area                 : Heliopolis

PO Box             : 1119

Town                 : Cairo 11371

Country             : Egypt

Telephone         : (20-2) 2916741 / 4179360 / 4182931

Facsimile          : (20-2) 2901080

Email                : aezaby1@rite.com / moustafa.ali@multipharma-eg.com

 

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Suburban Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Fouad Eiwas Street                                                                           Office premises

Alexandria

     Tel: (20-3) 5440308 / 5440309

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Dr Ahmed Essam Ragheb El Ezaby                                                   Chairman

 

·       Dr Ali El Sharkawy                                                                            Director

 

·       Dr Abdel Aziz Mohamed Ghazal                                                         Director

 

·       Dr Ahmed Shawki Guenedi                                                                Director

 

·       Dr Maher Ahmed Mohamed Kamel                                                     Director

 

·       Dr Ahmed Attia Saadah                                                                     Director

 

·       Yehia Mohamed                                                                                Finance Manager

 

·       Galal El Hendi                                                                                   Administration Manager

 

·       Dr Hesham El Habak                                                                         Sales Manager

 

·       Tarek El Swify                                                                                   IT Manager

 

·       Hanan Shalaby                                                                                 Marketing Manager

 

·       Mohamed Fayez                                                                               Purchasing Manager

 

·       Ehab Mohamed                                                                                 Import Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1992

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 272333, Cairo

 

Tax Card No.               : 200-053-094

 

Issued Capital              : £E 120,000,000

 

Paid up Capital            : £E 120,000,000

 

Name of Shareholder (s)                                         Percentage

·       Dr Ahmed Essam Ragheb El Ezaby                           58%

·       Moustafa Mohamed Mohamed & Family                      42%

 

 

AFFILIATED COMPANIES

 

·       El Ezaby Pharmacy Chain

1 Ahmed Taseer Street

Koliat El Banat

Heliopolis

Cairo

       Tel: (20-2) 24153409

 

 

OPERATIONS

 

Activities: Engaged in the manufacture, research and development of pharmaceutical preparations, particularly for ear, nose, throat and liver complaints.

 

Import Countries: Italy, Germany, Sweden, Denmark, France, Indonesia and the United States of America.

 

Agencies Held :

 

·       Convatec Bristol Myers Squibb Co

·       Pharmacia

·       Ferring Pharmaceuticals

·       Baxter Oncology

·       Chiron BV

·       Mothercare

·       Lacer SA

·       Lifescan

·       Bode

·       Omron

·       Butler

·       Jamjoom Pharma

·       Cheil Jedang

·       Pfizer

·       Bonyf

·       Becton Dickinson

·       Lundbeck

·       SSL International Plc

 

Export Countries : Jordan, Saudi Arabia, Yemen and Uganda.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 1,300 employees.

 

 

FINANCIAL DATA

 

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 763,824,069                         £E 952,469,896

 

Local sources consider subject’s financial condition to be Good.

 

The above financial figures are based on estimations by our local sources.

 

BANKERS

 

·       Egyptian Saudi Finance Bank

60 Mohy El Din Abu El Ezz Street

Dokki, Giza

     Cairo

     Tel: (20-2) 27481222

     Fax: (20-2) 27481777

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1992, subject is involved in the manufacture, research and development of pharmaceutical preparations, particularly for ear, nose, throat and liver complaints.

 

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 deemed to be within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.34

UK Pound

1

Rs.86.09

Euro

1

Rs.69.37

 

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%)

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.