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Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
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Name : |
DELTA PHARMACEUTICAL INDUSTRIES |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
May 1997 |
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Com. Reg. No.: |
2930348, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of therapeutic and diagnostic blood derivatives, plasma substitutes and medical laboratories requisites and pharmaceuticals. |
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No. of Employees : |
600 |
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) |
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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 : DELTA PHARMACEUTICAL INDUSTRIES
Trading As : DELTA PHARMA COMPANY
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : May 1997
Commercial Registration Number :
2930348,
Issued Capital : £E 12,000,000
Paid up Capital : £E 12,000,000
Total Workforce : 600
Activities : Manufacture of therapeutic and diagnostic blood derivatives, plasma
substitutes and medical laboratories requisites and pharmaceuticals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
DELTA PHARMACEUTICAL INDUSTRIES
TRADING AS: DELTA PHARMA COMPANY
Street : 36 Makkram
Ebeid Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22877791
/ 22877792 / 22877793
Facsimile : (20-2)
22877794
Email : info@deltapharmaegypt.com
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
· Industrial Zone
B4, Area No. 77/B Factory
premises
Sharkeya
PO Box:
1121
Tenth of
Ramadan City
Tel:
(20-15) 373781 / 373782
Fax:
(20-15) 373783
· 24 El Glaa Street Sales
office
Alexandria
Tel:
(20-3) 5760329
· 26 July Street Sales
office
Ibn Sina
Assuit
Tel:
(20-88) 339311
Name Position
· Dr Mohy Mohamed
Hafiz Chairman
· Dr Mohamed Tawfik
El Rakhawy Director
· Dr Raouf Hakim
Elias Director
· Bassel Raouf Hakim Director
· Dr Ahmed Abouel Azayem Director
· Dr Fayez Shafik General
Manager
· Dr Mohamed Abbas Commercial
Manager
· Ahmed Abdallah
Eissa Finance
Manager
· Dr Mamdouh Ali
Hassan Factory
Manager
· Hajaj Hussain Human
Resources Manager
Date of
Establishment : May 1997
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 2930348, Cairo
Issued Capital : £E 12,000,000
Paid up Capital : £E 12,000,000
· Dr Mohy Mohamed
Hafiz
· Dr Mohamed Tawfik El
Rakhawy
· Dr Raouf Hakim
Elias
· Bassel Raouf Hakim
· Dr Ahmed Abouel
Azayem
Activities: Engaged in the manufacture of therapeutic and diagnostic blood
derivatives, plasma substitutes and
medical laboratories requisites and pharmaceuticals.
Import Countries: Germany, Japan and India
Brand Names: DELTA PHARMA
Operating Trend: Steady
Subject has a workforce of approximately 600 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
70,000,000 £E
72,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
National Bank of Egypt
Sharkeya Branch
Tenth of Ramadan
City
Tel: (20-15)
360833 / 360744 / 344144
·
Cairo Far East Bank SAE
PO Box: 757
Cairo
Tel: (20-2)
33713554 / 33710280
Fax: (20-2)
33483818
·
National Bank of Abu Dhabi
Nile Tower, 18th Floor
21 Giza Street
Cairo
Tel: (20-2) 33609724
·
Misr International Bank (MIBANK)
14 Alfy Street
PO Box:
631
Cairo
Tel:
(20-2) 25931002
Fax:
(20-2) 25912306
No complaints regarding subject’s payments have been reported.
Credit amount 100,000 100,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
Delta Pharmaceutical Industries was established in 1997 and is engaged
in the manufacture of therapeutic and diagnostic blood derivatives, plasma
substitutes and medical laboratories requisites, as well as pharmaceuticals.
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 admissible.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
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|
1 |
Rs.92.25 |
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Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.