|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEDICAL UNION
PHARMACEUTICALS CO SAE (MUP) |
|
|
|
|
Registered Office : |
36 Dr Mohamed Hassan El
Gamal Street, 6th District, Nasr City, 7010 Cairo 11471 |
|
|
|
|
Country : |
Egypt |
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|
|
Financials (as on) : |
31.12.2012 |
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|
|
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Date of Incorporation : |
1984 |
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|
|
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Com. Reg. No.: |
13363, Ismailia |
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|
|
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Legal Form : |
Egyptian Joint Stock Company |
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|
|
|
Line of Business : |
Manufacture and
preparation of pharmaceutical products. |
|
|
|
|
No. of Employees : |
1,670 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 backtracked on economic reforms,
drastically increasing 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 were among the hardest hit sectors of the Egyptian economy, and
economic growth is likely to remain slow during the next several years. The
government drew down foreign exchange reserves by more than 50% in 2011 and
2012 to support the Egyptian pound and the dearth of foreign financial assistance
- as a result of unsuccessful negotiations with the International Monetary Fund
over a multi-billion dollar loan agreement which have dragged on more than 20
months - could precipitate fiscal and balance of payments crises in 2013
|
Source : CIA |
Company Name : MEDICAL UNION PHARMACEUTICALS CO SAE (MUP)
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 1984
Commercial
Registration Number : 13363, Ismailia
Issued Capital : £E 313,686,460
Paid up Capital : £E 313,686,460
Total Workforce : 1,670
Activities :
Manufacture and preparation of pharmaceutical products.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MEDICAL UNION
PHARMACEUTICALS CO SAE (MUP)
Street :
36 Dr Mohamed Hassan El Gamal Street
Area : 6th District, Nasr City
PO Box :
7010
Town :
Cairo 11471
Country :
Egypt
Telephone :
(20-2) 22709324 / 22709316 / 22709535 / 22726169
Facsimile :
(20-2) 22709315
Email : hr@mupeg.com
/ promotion@mupeg.om
Subject operates from
a large suite of offices that are owned and located in the Suburban Business
Area of Cairo.
Branch Office
(s)
Location Description
·
Abou Sultan Owned
factory premises
PO Box: 523
Ismailia
Tel: (20-64) 3400822
/ 3400823 / 3400893 / 3400527
Fax: (20-64) 3400363
·
8 Dr Mohamed Awad Street Sales
Office
6th
District, Nasr City
Tel: (20-2) 2719460 / 22721979 / 26702968
Fax:
(20-2) 22719461
·
Pharmacists Building No. 1 Sales
Office
Galal
Al Desouky Street
Wabour Al Meah
Alexandria
Tel: (20-3) 4264905
Fax:
(20-3) 4264907
·
246
Portsaid Street Sales
Office
Cleopatra
Alexandria
Tel: (20-3) 5220947 / 5220948
· Ahmed Galal Street Sales Office
Mansoura
Tel: (20-50) 320140 / 320141
·
Takseem Shauna Al Namees Street Sales
Office
Assiut
Tel: (20-88) 300237
Fax: (20-88) 300238
Name Position
·
Dr Mohamed Abd El Gawad Chairman
·
Ahmed
Said Kelany Managing
Director
·
Dr
Ossama Hamed Shams El Din Raslan Director
·
Dr Abdallah
Zein El Abdin Director
·
Dr
Mourad Abdel Salam Youssef Director
·
Essam
Sayed Ahmed Director
·
Dr Ezz
El Din El Aref Faranka Director
·
Dr
Essam El Din Mohamed Hussain El Erian Director
·
Mahmoud
Hassan Hamed Director
·
Mohamed
Metwally Mahdy Mohamed Director
·
Sheikh
Sultan Ben Mohamed Ben Saleh Director
·
Dr Abd
El Hamid El Hadey Director
·
Dr
Mahfouz Kassem General
Manager
·
Hedar Ahmed El Hawary Finance
Manager
·
Dr Hussein Soliman Sales
Manager
·
Dr Ali Mahmoud Taha Marketing
Manager
·
Dr Mohamed Galal Factory
Manager
·
Mohamed El Sayed Administration
Manager
·
Mohamed Maher El Adawi Export
Manager
·
Dr Ikram Abu Gabal Purchasing
Manager
·
Labiba
Shahin Human
Resources Manager
·
Said El
Kamhawy Office
Manager
·
Nasser
El Maazawy IT
Manager
Date of Establishment : 1984
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 13363, Ismailia
Authorised
Capital : £E 400,000,000
Issued Capital : £E 313,686,460
Paid up Capital : £E 313,686,460
·
Arab Drugs & Medical Industries 40.63%
·
Private Investors 12.92%
·
Medical Union Pension Fund & Endowment Fund 10.77%
·
Medical Professions Investment 10.61%
·
Arab Libyen for Investment Foreign 10.01%
·
Industrial
Investment 10.01%
·
Nomas Trade Establishment 5.05%
Activities: Engaged in the manufacture and preparation
of pharmaceutical products for the cardio-vascular system,
central autonomic nervous system, anaesthetics, metabolism, nutrition,
alimentary system, urology, dermatology, gynaecology and obstetrics.
Subject acquired the ISO 9001 Certificate from
the British Standards Institute (BSI) in 1996.
Import
Countries: Spain,
Switzerland, Italy, Germany, United Kingdom, India, China, Malaysia, Japan and
France.
International
Suppliers:
·
Almirall
Prodesfarma SA Spain
·
Mepha
AG Switzerland
·
Recordati
SpA Italy
·
Hermal
GmbH Germany
·
Smithkline
Beecham United Kingdom
·
Pierre
Fabre SA France
Export
Countries: Subject exports
to over 20 countries, including Iran, Algeria, Sudan, United Arab Emirates, Saudi
Arabia, Yemen, Libya, Iraq, Switzerland and other European nations
Operating Trend: Steady
Subject has a
workforce of approximately 1,670 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 713,035,152 £E 780,878,008
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Alexandria
Main Branch
Cairo
Tel: (20-2) 24824056 /
24836073
Fax: (20-2) 24837468
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 35703043
Fax: (20-2) 35703172 / 35072691
·
National
Societe Generale Bank
86 Mokram Ebaid
Nasr City
Cairo 11371
·
Suez
Canal Bank
PO Box: 2620
Cairo
Tel: (20-2) 25769296
Fax: (20-2) 25322064
·
Arab
Bank
PO Box: 68
Cairo
Tel: (20-2) 33029069 / 33029070
Fax: (20-2) 33029068
·
National
Bank of Abu Dhabi
Nile Tower, 18th Floor
21, Giza Street
Cairo
Tel: (20-2) 33609724
·
American Express Bank Ltd
PO Box: 1824
Cairo
Tel: (20-2) 33608228
Fax: (20-2) 33608227
No complaints
regarding subject’s payments have been reported.
Credit amount 100,000 170,000 100,000
Amount overdue 0 0 0
Payment terms 60
days 60 days 60 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints
Currency US
Dollars Pounds
Sterling US Dollars
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.54.32 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
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.