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Report Date : |
14.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
MASH PREMIERE |
|
|
|
|
Registered Office : |
9 Abo El Kasim Al
Mahdy Street, Nasr City, 7th District, Cairo |
|
|
|
|
Country : |
Egypt |
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|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
|
Date of Incorporation : |
11.07.2001 |
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|
|
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Com. Reg. No.: |
2940, Cairo |
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|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
importer and distributor of pharmaceutical
preparations, medicines and cosmetics. |
|
|
|
|
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 : |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Egypt |
B1 |
B1 |
|
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 : MASH PREMIERE
Country of Origin : Egypt
Legal Form : Limited Liability Company
Registration Date : 11th July 2001
Commercial Registration Number : 2940, Cairo
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Total Workforce : 35
Activities : Distributors of pharmaceutical preparations, medicines and cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Nawar, Public Relations Officer
MASH PREMIERE
Registered &
Physical Address
Street : 9 Abo El Kasim Al Mahdy Street
Area : Nasr City, 7th
District
Town : Cairo
Country : Egypt
Telephone : (20-2) 24044033 / 24040468
Facsimile : (20-2) 24040465
Mobile : (20-120) 0007971
Email : sale@mashpharma.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
·
Alexandria Office
premises
·
Mansoura Office
premises
Name Position
·
Dr
Sayed Mohamed Ali El Hendawy Managing
Director
·
Mahmoud
Mohamed Ali El Hendawy Director
·
Dr
Hussain Abdul Sadiq Commercial
Manager
·
Dr Emad
Hussain Sales
Manager
·
Mohamed
Ismail Finance
Manager
·
Shiyma
Samir Purchasing
Officer
·
Ahmed
Nawar Public
Relations Officer
·
Hassan
El Damer Accountant
Date of Establishment : 11th
July 2001
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2940, Cairo
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Name of Shareholder (s)
·
Dr
Sayed Mohamed Ali El Hendawy
·
Mahmoud
Mohamed Ali El Hendawy
·
Biomed
for Pharmaceuticals Industries
Badr City
Activities: Engaged in the import and distribution of
pharmaceutical preparations, medicines and cosmetics.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 35 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales £E 14,100,000 £E 15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
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.62.13 |
|
|
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
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.