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Report Date : |
12.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ZAD INDUSTRIAL PHARMA SAE |
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Registered Office : |
131 Ataka
Industrial Zone, Suez |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1993 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and formulation of pharmaceuticals |
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No. of Employees : |
130 |
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 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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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.
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Source : CIA |
Company Name : ZAD INDUSTRIAL PHARMA SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1993
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
Total Workforce : 130
Activities : Manufacture and formulation of pharmaceuticals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Mohamed El Sayed, Managing Director
ZAD INDUSTRIAL
PHARMA SAE
Registered &
Physical Address
Location : 131 Ataka Industrial Zone
Town : Suez
Country : Egypt
Telephone : (20-62) 3230520 / 3230521 / 3230522
Facsimile : (20-62) 3230523
Mobile : (20-122)
23131850
Email : info@zadpharma.com
/ zad_pharma@yahoo.com
Premises
Subject operates from
a suite of offices and a factory, covering 5,500 square metres that are rented
and located in the Industrial Area of Suez.
Name Position
·
Mohamed Mohamed El Sayed Managing
Director
·
Dr Naif El Sayed Director
·
Dr Aman Ismail Director
·
Dr Amira Abdul Moniem Export
Manager
·
Waleed
Mowmen Finance
Manager
Date of Establishment : 1993
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
Name of
Shareholder (s)
·
Mohamed Mohamed El Sayed
·
Dr Naif El Sayed
·
Dr Aman Ismail
Activities: Engaged in the manufacture and formulation
of pharmaceuticals, including solids, semisolids and
solutions. Subject’s products
include creams, sprays, lotions, oils, gels and capsules.
Subject has a GMP certificate and is ISO 9001:2000 accredited.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 130 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales £E 42,000,000 £E 45,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque Misr
Talaat Harb Street
Suez
Tel:
(20-62) 3231174
Fax:
(20-62) 3331172
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.54.53 |
|
UK Pound |
1 |
Rs.83.59 |
|
Euro |
1 |
Rs.71.33 |
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.