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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
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Name : |
BIOPHARM FOR SCIENTIFIC RESEARCH AND PHARMACEUTICAL MANUFACTURING |
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Registered Office : |
57 Corniche El Nil Maadi Cairo |
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Country : |
Egypt |
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Year of Incorporation : |
1996 |
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Com. Reg. No.: |
584, 6th of October City |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of pharmaceuticals. |
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No. of Employees : |
26 |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Egypt |
B1 |
B1 |
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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 |
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 : BIOPHARM FOR SCIENTIFIC RESEARCH AND PHARMACEUTICAL
MANUFACTURING
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1996
Commercial Registration Number : 584, 6th of October City
Issued Capital : £E 30,000,000
Paid up Capital : £E 30,000,000
Total Workforce : 26
Activities : Manufacturers of pharmaceuticals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
BIOPHARM FOR SCIENTIFIC RESEARCH AND PHARMACEUTICAL MANUFACTURING
Street : 57 Corniche
El Nil
Area : Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 25262300
/ 25263932
Facsimile : (20-2)
25262400
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
· 3rd
Industrial Zone, Plot No. 96 Factory
premises
Street No. 45
6th of
October City
Tel: (20-2)
38327320 / 38302727
Fax: (20-2)
38327326 / 38327320
Name Position
· Dr Osama Mohamed
Tagy El Din Kandil Chairman
· Mahmoud Sakr Finance
Manager
· Essam Badary Purchasing
Manager
Date of
Establishment : 1996
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 584, 6th of October City
Issued Capital : £E 30,000,000
Paid up Capital : £E 30,000,000
· Dr Osama Mohamed
Tagy El Din Kandil 49.97%
· Private Investors 50.03%
Activities: Engaged in the manufacture of pharmaceuticals. Subject also provides
scientific research services.
Import Countries: Europe and the Far East.
Brand Names: BIOPHARM
Subject has a workforce of 26 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.
·
National Bank of Egypt
24 Sherif Street
Cairo
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
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 and the
above credit figure is deemed to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
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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 |
|
<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.