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Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
EGYPTIAN GROUP FOR PHARMACEUTICAL INDUSTRIES
SAE |
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Registered Office : |
28 El |
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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.: |
1942 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of pharmaceuticals |
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No. of Employees : |
470 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
Company Name : EGYPTIAN GROUP FOR PHARMACEUTICAL INDUSTRIES SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2000
Commercial Registration Number : 1942
Tax Card Number : 205-066-925
Authorised Capital : £E 443,000,000
Issued Capital : £E 43,000,000
Paid up Capital : £E 43,000,000
Total Workforce : 470
Activities : Manufacturers of pharmaceuticals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
EGYPTIAN GROUP FOR
PHARMACEUTICAL INDUSTRIES SAE
Registered &
Physical Address
Building : 28 El Obour Buildings, 10th
Floor
Street :
Area :
Town : Cairo
Country :
Telephone : (20-2) 24042012 / 22404836 / 24048936
/ 24032775
Facsimile : (20-2) 24048360 / 22628686 /
22606570
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
Cairo -
Ismailia Road Factory
premises
2nd Industrial Zone, El Obour City
Tel: (20-2) 44782937 / 44782940 / 44782941 /
44782939
Fax: (20-2) 44782937
·
21
Ahmed El Zomer Street Office
premises
Heliopolis
Cairo
Name Position
·
Dr
Youssef Badran Chairman
·
Dr
Mohamed Moustafa El Barbary Managing
Director
·
Dr
Tarek Abd El Rehim Omar Attallah Director
·
Dr
Niazi Zakaria El Ghaffar Director
·
Sohir
Abu El Hassan Director
·
Wael
Hassan Finance Manager
·
Khaled
El Shaier Purchasing
Manager
·
Sameh
Ali Sales
Manager
Date of Establishment : 2000
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 1942
Tax Card No. : 205-066-925
Authorised
Capital : £E 443,000,000
Issued Capital : £E
43,000,000
Paid up Capital : £E 43,000,000
Name of Shareholder
(s) Percentage
·
Dr
Youssef Badran 25%
·
Dr
Mohamed Moustafa El Barbary 25%
·
Dr
Tarek Abd El Rehim Omar Attallah 25%
·
Dr
Niazi Zakaria El Ghaffar 25%
Activities: Engaged in the manufacture of
pharmaceuticals, specialising in preparations for ophthalmology, ear, nose and throat and dentistry.
Import
Countries: China, France, Germany,
United Kingdom, Italy and the United States of America.
Operating Trend: Steady
Subject has a
workforce of approximately 470 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 34,000,000 £E 33,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Ahli
United Bank
64 Gamaet El Dewal
Mohandessin,
Tel: (20-2) 37491751
No complaints
regarding subject’s payments have been reported.
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.53.63 |
|
UK Pound |
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
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.