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Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
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Name : |
YEMEN EGYPTIAN PHARMA CO LTD |
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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 : |
05.08.1999 |
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Com. Reg. No.: |
259, Sana'a |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of pharmaceuticals and drugs |
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No. of Employees : |
240 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Yemen |
B2 |
B2 |
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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 |
YEMEN - ECONOMIC OVERVIEW
Yemen is a low income country
that is highly dependent on declining oil resources for revenue. Petroleum
accounts for roughly 25% of GDP and 70% of government revenue. Yemen has tried
to counter the effects of its declining oil resources by diversifying its
economy through an economic reform program initiated in 2006 that is designed
to bolster non-oil sectors of the economy and foreign investment. In October
2009, Yemen exported its first liquefied natural gas as part of this
diversification effort. In January 2010, the international community
established the Friends of Yemen group that aims to support Yemen's efforts
toward economic and political reform, and in August 2010 the IMF approved a
three-year $370 million program to further this effort. Despite these ambitious
endeavors, Yemen continues to face difficult long term challenges, including
declining water resources and a high population growth rate.
Source
: CIA
Company Name : YEMEN EGYPTIAN PHARMA CO LTD
Country of Origin : Yemen
Legal Form : Limited Liability Company
Registration Date : 5th August 1999
Commercial Registration Number : 259, Sana'a
Issued Capital : US$ 11,173,700
Paid up Capital : US$ 11,173,700
Total Workforce : 240
Activities : Manufacture of pharmaceuticals and drugs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Amin Al Zabaigi, Finance Manager
YEMEN EGYPTIAN PHARMA CO LTD
Street : Sitteen
Street (60th Street)
Area : Gawalat
Mazbah, Asser Area
PO Box : 1505
Town : Sana’a
Country : Yemen
Telephone : (967-1) 380104
Facsimile : (967-1) 380108
Email : sales@ey-pharma.com
/ y.apharma@yemen.net.ye
/ w-lp@windowslive.com
Please note that subject’s previous address was, United Bank Building,
4th Floor, Zubairy Street, Sana’a.
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Sana’a.
Branch Office (s)
Location Description
· Bny Matar Owned
factory premises covering an area
Matna of
16,600 square metres
Tel:
(967-1) 529461
Fax:
(967-1) 529462
· Aden Distribution
depot
Tel: (967-2)
396493
· Taiz Distribution
depot
Tel: (967-4)
278902
· Hodaidah Distribution
depot
Tel: (967-3)
212117
· Ibb Distribution
depot
Tel: (967-4)
421050
· Damar Distribution
depot
Tel: (967-6)
421153
Name Position
· Mohamed Abdo Saeed
Anaam Chairman
· Mohsen Mohamed Al
Yousefi Managing
Director
· Mohsen Ali Mohsen Director
· Mohamed Yassir
Radman Al Shamiri Director
· Amar Mohamed Abdul
Wahid Al Amri Director
· Dr Bashir Al
Shargabi Commercial
Manager
· Sami Ismail Al
Sagai Production
Manager
Date of
Establishment : 5th
August 1999
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 259, Sana'a
Concession No. : 65
Issued Capital : US$ 11,173,700
Paid up Capital : US$ 11,173,700
· Tadamon Islamic
Bank 60%
· Mohsen Mohamed Al
Yousefi ]
]
· Mohsen Ali Mohsen ]
] 40%
· Mohamed Yassir
Radman Al Shamiri ]
]
· Amar Mohamed Abdul
Wahid Al Amri ]
Activities: Engaged in the manufacture of pharmaceuticals and drugs.
Production
Capacity: 8.6 million bottles of liquids
per annum
70
million capsules per annum
10
million units of ampoules and Alvialat per annum
Import Countries: India and Europe
Operating Trend: Steady
Subject has a workforce of approximately 240 employees.
Financial highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales US$
5,250,000 US$
5,600,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
· Yemen Commercial
Bank
Al Rowaishan
Building
Zubairy Street
PO Box: 19845
Sana’a
Tel:
(967-1) 218591-7
Fax:
(967-1) 209566
Email: info@ycbfirstbank.com
No complaints regarding subject’s payments have been reported.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.97 |
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1 |
Rs.87.52 |
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Euro |
1 |
Rs.70.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.