MIRA INFORM REPORT

 

 

Report Date :

13.06.2013

 

IDENTIFICATION DETAILS

 

Name :

T3A INDUSTRIAL

 

 

Registered Office :

Abnoub Industrial Zone, Arab El Awamer, Assiut

 

 

Country :

Egypt

 

 

Year of Establishments:

1997

 

 

Com. Reg. No.:

65332, Assiut

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacturers of pharmaceuticals and chemicals

 

 

No. of Employees :

200

 

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 

 

 

Payment Behaviour :

No  Complaints

 

 

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

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

SUMMARY

 

Company Name                                     : T3A INDUSTRIAL

Also Known As                                      : TAREK EL HADY & CO

Country of Origin                                    : Egypt

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 1997

Commercial Registration Number                        : 65332, Assiut

Issued Capital                                        : £E 90,000,000

Paid up Capital                                      : £E 90,000,000

Total Workforce                                     : 200

Activities                                               : Manufacturers of pharmaceuticals and chemicals.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

T3A INDUSTRIAL

 

 

ALSO KNOWN AS

TAREK EL HADY & CO

 

 

Company ADDRESS

 

Registered & Physical Address

Location            : Abnoub Industrial Zone, Arab El Awamer

Town                 : Assiut

Country             : Egypt

Telephone         : (20-88) 4960010

Facsimile          : (20-88) 4960010

 

Premises

Subject operates from a medium sized suite of offices and a factory that are owned and located in the Industrial Area of Assiut.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       6A Giza Street, 4th Floor                                                                    Rented office premises

PO Box 64, El Orman

Cairo

Tel: (20-2) 37744270 / 37744271 / 37744272 / 37744273

Fax: (20-2) 35715161

 

·       Zahrat El Maadi Tower                                                                       Rented office premises

Maadi

Cairo

Tel: (20-2) 25283262

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Dr Tarek Moustafa El Hady                                                                Managing Partner

·       Ahmed Said El Kelany                                                                       General Manager

·       Mahmoud Abd El Aziz                                                                       Finance Manager

·       Moustafa Hussein Abd El Hady                                                          Factory Manager

·       Ahmed Abd El Khalek                                                                       IT Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1997

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 65332, Assiut

 

Issued Capital              : £E 90,000,000

 

Paid up Capital            : £E 90,000,000

 

Name of Shareholder (s)                                           Percentage

·       T3A Pharma Group                                                    99.9%

·       Dr Tarek Moustafa El Hady                                          0.5%

·       Members of Abd El Moneim Ezzat’s Family                  0.5%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceuticals and chemicals used in the drug and pharmaceutical

                 industries.

 

Import Countries: South Korea, India, China, Italy, France and Australia.

 

Export Countries: South Africa

 

Subject has a workforce of approximately 200 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

·       National Bank of Egypt

24 Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

·       Housing & Development Bank

Cairo

     Tel: (20-2) 27359501

     Fax: (20-2) 27361458

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.58.27

UK Pound

1

Rs.91.16

Euro

1

Rs.77.50

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.