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Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SABAA
INTERNATIONAL CO FOR PHARMACEUTICALS & CHEMICALS INDUSTRIES |
|
|
|
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Registered Office : |
Villa Al Maden
Koliet Al Banat, 6 Ahmed Shaker Street, Heliopolis 413 Cairo |
|
|
|
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Country : |
Egypt |
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Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Egyptian Joint
Stock Company |
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|
|
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Line of Business : |
Manufacture of
pharmaceuticals |
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|
|
|
No. of Employees : |
35 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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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 :
SABAA INTERNATIONAL CO FOR PHARMACEUTICALS & CHEMICALS INDUSTRIES
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 2000
Authorised Capital : £E
50,000,000
Issued Capital : £E
25,000,000
Paid up Capital : £E
25,000,000
Total Workforce : 35
Activities :
Manufacture of pharmaceuticals
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
SABAA INTERNATIONAL
CO FOR PHARMACEUTICALS & CHEMICALS INDUSTRIES
Building : Villa Al Maden Koliet Al Banat
Street : 6 Ahmed Shaker Street
Area : Heliopolis
PO Box : 413
Town : Cairo
Country : Egypt
Telephone : (20-2) 24148529
Facsimile : (20-2) 22918390 / 24147619
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Baltiem Industrial Zone Factory
premises
Dessouk
Kafr El Sheikh
Tel: (20-47)
2518772
Name Position
·
El Sayed Abd El Nabi Mohamed El Beilly Chairman
·
Sahl Morsi Mohamed Morsi El Damrawy Managing
Director
·
Islam
Abu El Maged IT
Manager
Date of Establishment : 2000
Legal Form :
Egyptian Joint Stock
Company
Authorised
Capital : £E 50,000,000
Issued Capital : £E 25,000,000
Paid up Capital : £E 25,000,000
·
El Sayed Abd El Nabi Mohamed El Beilly
·
Sahl Morsi Mohamed Morsi El Damrawy
·
Ali Aouf
·
Abeer Ezzat Zahran
Activities: Engaged in the manufacture of
pharmaceuticals, including catarrh preparations, nerve tonics, depuratives,
fish oil preparations and salt tablets.
Import
Countries: Italy, Austria
and India
Subject has a workforce
of 35 employees.
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Banque
du Caire SAE
19 Adly
Street
Cairo
Tel: (20-2)
33926915
Fax: (20-2)
33951713
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.