|
Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARAB MEDICAL PACKING CO SAE |
|
|
|
|
Registered Office : |
63A Port Said Street, El Waily El Kabir, Hadayek El Qobba, PO Box: 137
Cairo 11331 |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
23.09.1983 |
|
|
|
|
Com. Reg. No.: |
229154 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturers of pharmaceutical and foodstuff packaging, paper and
aluminium foils. |
|
|
|
|
No. of Employees : |
345 |
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 : |
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 |
Company Name :
ARAB MEDICAL PACKING CO SAE
Doing Business As :
FLEXIPACK
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
23rd September 1983
Commercial Registration Number :
229154, Cairo
Tax Card Number :
100-028-136
Industrial Registration Number :
159750
Issued Capital :
£E 95,000,000
Paid up Capital :
£E 95,000,000
Total Workforce :
345
Activities :
Manufacturers of pharmaceutical and foodstuff packaging, paper
and aluminium foils.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ARAB MEDICAL PACKING CO SAE
FLEXIPACK
Registered &
Physical Address
Street : 63A Port Said
Street
Area : El Waily El
Kabir, Hadayek El Qobba
PO Box : 137
Town : Cairo 11331
Country : Egypt
Telephone : (20-2)
224221881 / 22421762 / 24242222
Facsimile : (20-2)
224221880
Mobile : (20-100)
6022080 / 6022081
Email : marketing@flexipack_eg.com
/ flxipack@intouch.com
Premises
Subject operates from a suite of offices covering an area of 300 square metres
that are rented and located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
1st Industrial Zone, Street No. 92, Plot 46 Owned factory premises
6th of October City
Tel: (20-2) 38320581 / 38320582 / 38320583 / 38920581
Fax: (20-2) 38346429 / 38331966 / 38331966
Name Position
Hani Abdulaziz Katan Chairman
Dr Hafez El Ghandour Director
Dr Samir Thabet Director
Dr Mohsen Moustafa Director
Dr Mohamed Amin Mubarak Director
Fathi Attia Shanab Director
Hesham Abo Ouf Director
Ahmed El Anany Director
Hassan Abd El Meguid Director
Ibrahim Moustafa Kamal Director
Tawfik Abu Zaied Shalaby Director
Hafez Kamel El Ghandour Director
Mahmoud Mohamed Saleh Director
Saber Hassanein Director
Moustafa El Sayed El Shab Director
Ashour Raslan Finance
Manager
Hossam Fekry Accounts
Manager
Saad El Din Mohamed Production
Manager
Dr Maged Gadallah Sales
Manager
Youssry Omar Planning
Manager
Mahmoud Sayed Purchasing
Manager
Emad Essmat Human
Resources Manager
Mohamed Abd El Moneim Office
Manager
Date of Establishment : 23rd
September 1983
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 229154, Cairo
Tax Card No. : 100-028-136
Industrial Reg. No. : 159750
Authorised Capital : £E 150,000,000
Issued Capital : £E 95,000,000
Paid up Capital : £E 95,000,000
Name of
Shareholder (s) Percentage
Acdima 60.00%
24 El Fawala Street
Cairo
Tel: (20-2) 33914576
Saudi Egyptian Co For Industrial Investment
16.80%
Holding Co for Food Industries 13.38%
20 Salem Salem Street
Mohandessin, Giza
Cairo
Tel: (20-2) 27494823
Holding Co for Pharmaceutical Chemicals & Medical Appliances
9.82%
Subject is a member of the ACDIMA Group of companies, which comprises
the following concerns:
Pharmaceutical Solutions Industries Ltd
Riyadh Industrial City
PO Box: 17476
Amman
Jordan
Tel: (962-6) 6361383
Saudi Pharmaceutical Industries & Medical Appliances Corp (SPIMACO)
Al Akaria Building, 7th Floor, Tower 2
Salah Aldin Street
PO Box: 20001
Riyadh 11455
Saudi Arabia
Tel: (966-1) 4774481 / 4774483
Fax: (966-1) 4773961
Medical Union Pharmaceuticals SAE (PHARMA)
36 Dr Mohamed Hassan El Gamal Street
6th District, Nasr City
PO Box: 7010
Cairo
Egypt
Tel: (20-2) 22607418 / 22607419
Fax: (20-2) 22607419
Arab Anti-Biotic Manufacturing Co Ltd
ACAI Building
Al Mansoura
PO Box: 6218
Baghdad
Iraq
Tel: (964-1) 7766096
Fax: (964-1) 7768561
Arab Co for Medical Appliances (ACMA)
8 El Obour Building
Salah Salem Street
Cairo
Egypt
Tel: (20-2) 22609081 / 22608222
Fax: (20-2) 22634445
South Egypt Industries Co SAE (SEDICO)
3 El Khalifa Street
PO Box: 43
Cairo
Egypt
Tel: (20-2) 25852319 / 25861778
Fax: (20-2) 25852319
National X Ray Films Co Ltd (ASHAA)
Saudi Arabia
Arabian Medical Products Manufacturing Co (INAYA)
Saudi Arabia
Arab Chemical Investments Company (ACIC)
Saudi Arabia
Saudi Venture Capital Group (SVGG)
Saudi Arabia
Activities: Engaged in the manufacture
of pharmaceutical and foodstuff packaging, paper and aluminium foils.
Import Countries: France,
Italy, Germany, Switzerland, India, China and the United Kingdom.
Export Countries: Jordan,
Kuwait, Morocco, Saudi Arabia and Yemen
Operating Trend: Steady
Subject has a workforce of approximately 345 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
128,516,720 £E
133,055,461
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Societe Generale Bank SAE
Evergreen Building
10 Talaat Harb Street
Cairo
Tel: (20-2) 25749376
Fax: (20-2) 25776249 / 25782838
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
National Bank of Abu Dhabi
Nile Tower, 18th Floor
21 Giza Street
Cairo
Tel: (20-2) 33609724
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.58.45 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.