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Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
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Name : |
REXCEL EGYPT LIMITED FOR RANBAXY EGYPT
LIMITED |
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|
|
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Registered Office : |
3 Ahmed Nessim
Street, Dokki, Giza, Cairo |
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Country : |
Egypt |
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Year of Establishments: |
1995 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of medical preparations |
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No. of Employees : |
160 |
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 : |
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 |
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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.
|
Source : CIA |
Company Name : REXCEL EGYPT LIMITED FOR RANBAXY EGYPT LIMITED
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1995
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 160
Activities : Distributors of medical preparations
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
REXCEL EGYPT LIMITED
FOR RANBAXY EGYPT LIMITED
Registered &
Physical Address
Street : 3 Ahmed Nessim Street
Area : Dokki, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 37613973 / 37613976
Facsimile : (20-2) 37614513
Mobile : (20-100) 13333722
Email : hossamabdel.atty@ranbaxy.com
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Central Business Area of Cairo.
Branch Offices
Location Description
·
1 El
Bahaa Street Office
premises
El Estad Area
Tanta
Tel: (20-40) 3339112
Name Position
·
Mohamed
Ayman Saleh Mohamed Shehata Managing
Partner
·
Dr
Ibrahim Shalaby General
Manager
·
Soumetra
Raddy Finance
Manager
·
Malak
El Sharkawy Administration
Manager
Date of Establishment : 1995
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Partner (s) Percentage
·
Ranbaxy
Holland PV 99.5%
·
Mohamed
Ayman Saleh Mohamed Shehata 0.5%
Activities: Engaged in the import and distribution of
medical preparations, including anaesthetics and preparations for the cardiovascular
systems, central and autonomic nervous system.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 160 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.
·
HSBC
Bank Egypt
306 Corniche El Nil Street
PO Box: 124
Maadi
Cairo
Acc No. 113-006308-001 (£E) 113-006308-110
(US$)
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.54.44 |
|
UK Pound |
1 |
Rs.83.78 |
|
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.