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Report Date : |
21.11.2012 |
IDENTIFICATION DETAILS
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Name : |
UNITED GROUP PHARMA FOR TRADING AGENCIES |
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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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Year of Establishment : |
2000 |
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Com. Reg. No.: |
42707, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of herbal extracts and distributors of tablets and pharmaceutical ingredients |
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No. of Employees : |
15 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Egypt - ECONOMIC OVERVIEW
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed to public discontent. After unrest erupted in January 2011, the Egyptian Government drastically increased social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction are among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow at least through 2012. The government is utilizing foreign exchange reserves to support the Egyptian pound and Egypt may seek a loan from the International Monetary Fund.
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Source : CIA |
Company Name : UNITED GROUP PHARMA FOR TRADING AGENCIES
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2000
Commercial Registration Number : 42707, Cairo
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 15
Activities : Manufacturers of herbal extracts and distributors of tablets and
pharmaceutical ingredients.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Heba Mohsen, Purchasing Manager
UNITED GROUP PHARMA
FOR TRADING AGENCIES
Registered &
Physical Address
Street : 603 Al Methaq Street, Flat No.
3
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 24489737 / 24090838
Facsimile : (20-2) 24489737
Mobile : (20-100) 0022999
Email : heba_m@ugpharma.net
Premises
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Cairo.
Name Position
·
Nabil
Mamoun Mahfouz Managing
Partner
·
Ismail
Mohamed Ismail Partner
·
Abdullah
Nahla Partner
·
Heba
Mohsen Purchasing
Manager
Date of Establishment : 2000
Legal Form :
Limited Liability
Partnership
Commercial
Reg. No. : 42707, Cairo
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Partner
(s)
·
Nabil
Mamoun Mahfouz
·
Ismail
Mohamed Ismail
·
Abdullah
Nahla
Activities: Engaged in the manufacture of herbal
extracts and distributors of tablets and pharmaceutical ingredients.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 15 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 11,100,000 £E 11,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
BNP
Paribas
79 El Merghany Street
Heliopolis
Cairo
Tel: (20-2) 22916389
Fax: (20-2) 22916379
No complaints
regarding subject’s payments have been reported.
Subject is in the
process of building a factory in Badr City.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.91 |
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UK Pound |
1 |
Rs.87.38 |
|
Euro |
1 |
Rs.70.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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.