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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Egyptian co for chemicals &
pharmaceuticals SAE (Adwia) |
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Registered Office : |
ADWIA Administration Building, 1st Industrial Zone, Al Obour City, P O Box 59, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1984 |
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Com. Reg. No.: |
50195 |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Manufacture of human and veterinary pharmaceuticals, animal feed
concentrates, pesticides and agriculture pesticides. |
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No. of Employees : |
300 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Egypt |
A2 |
A2 |
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Risk Category |
ECGC Classification |
|
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 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 :
EGYPTIAN
CO FOR CHEMICALS & PHARMACEUTICALS SAE (ADWIA)
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 1984
Commercial
Registration Number : 50195
Issued Capital : £E
261,000,000
Paid up Capital : £E
261,000,000
Total Workforce : 300
Activities :
Manufacture
of human and veterinary pharmaceuticals, animal feed
concentrates, pesticides and agriculture
pesticides.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Emad Sultan, Accounts Manager
EGYPTIAN CO FOR CHEMICALS & PHARMACEUTICALS SAE (ADWIA)
Building : ADWIA Administration Building
Area : 1st Industrial Zone, Al Obour
City
PO Box : 59
Town : Cairo
Country : Egypt
Telephone : (20-2) 46104444 / 46100654 / 46100655
/ 46100750 / 46100850
Facsimile : (20-2) 46100663 / 46100851
Email : adwia@adwia.com / adwia_exp@menanet.net / export@adwia.com / emad.soltan@adwia.com
Subject operates
from a large suite of offices and a warehouse that are owned and located in the
Industrial Area of Cairo.
Branch Office
(s)
Location Description
·
1st
Industrial Zone A2, Area 211 Owned
factory premises
Khoufo Street
Sharkeya
Tenth of Ramadan City
Tel: (20-15) 413104/5/6/7/8 /
362476 / 362475
Fax: (20-15) 413105/7 / 363635
·
30 Mohamed Said El Halawani Street Sales
Office
Heliopolis
Cairo
Tel:
(20-2) 2667596 / 2667476 / 2667469
Fax:
(20-2) 2667596 / 2673696
·
El Nile
Building Sales Office
El Gueish Street
Al Mansoura
Tel: (20-50) 314340
·
Gamal
Abdel Nasser Street Sales Office
Al Fayoum
Tel: (20-84) 352794
·
Abdel
Salam El Shazly Street Sales Office
Damanhour
Tel: (20-45) 353069
·
Sour El
Estad El Riyady Sales Office
Kafr El Sheikh
Tel: (20-47) 236016
·
61 El
Gueish Street Sales Office
Tanta
Tel: (20-40) 314839
Name Position
·
Hossam El Din Mohamed Taher Managing
Director
·
Sameh Mohamed Taher Director
·
Ashraf Mohamed Taher Director
·
Hisham Mohamed Taher Director
·
Emad Sultan Accounts
Manager
·
Rabih Kamal Finance
Manager
·
Dr
Samir Moussa Sales
Manager – Animal Health
·
Dr
Yusri Abdallah Sales
Manager – Pharmaceuticals
·
Dr Samy
Mostafa Sales
Manager – Pesticides
·
Dr Ahmed Samir Factory
Manager
·
Dr Amer El Jundy Export
Manager
·
Waheed Abu Dahab Business
Development Manager
Date of Establishment : 1984
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 50195
Issued Capital : £E 261,000,000
Paid up Capital : £E 261,000,000
·
Hossam El Din Mohamed Taher 80.2%
·
Sameh Mohamed Taher 6.6%
·
Ashraf Mohamed Taher 6.6%
·
Hisham Mohamed Taher 6.6%
Activities: Engaged in the manufacture of human
and veterinary pharmaceuticals, animal feed concentrates,
pesticides and agriculture pesticides.
Subject is ISO 14001 and 9001 accredited.
Import
Countries: Germany and
India
Export
Countries: Subject exports throughout
the Middle East, Africa, and Asia, as well as Albania and Malta
Brand Names: ADWIA
Operating Trend: Steady
Subject has a
workforce of approximately 300 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 244,916,000 £E 261,627,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Emad Sultan, Accounts Manager
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Banque
du Caire SAE
19
Adly Street
Cairo
Tel: (20-2)
33926915
Fax: (20-2)
33951713
No complaints
regarding subject’s payments have been reported.
Egyptian Co For Chemicals & Pharmaceuticals (Adwia) was established
in 1984 and has gained a good reputation for the quality of its products. The
company specialises in the manufacture of human
and veterinary pharmaceuticals, animal feed concentrates, pesticides and
agriculture pesticides.
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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
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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.