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Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL DRUG AGENCY FOR PHARMACEUTICAL INDUSTRY (IDI) |
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Registered Office : |
Saudi Buildings 4-18 El Nozha Street Heliopolis Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.03.2000 |
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Com. Reg. No.: |
3753, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of pharmaceuticals and cosmetics. |
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No. of Employees : |
315 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Egypt |
A2 |
A2 |
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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 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 : INTERNATIONAL DRUG AGENCY FOR PHARMACEUTICAL INDUSTRY (IDI)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 21st March 2000
Commercial Registration Number : 3753, Cairo
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
Total Workforce : 315
Activities : Manufacturers of pharmaceuticals and cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
INTERNATIONAL DRUG AGENCY FOR PHARMACEUTICAL INDUSTRY (IDI)
Building : Saudi
Buildings
Street : 4-18 El
Nozha Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 24197380
/ 22914898 / 24184269
Facsimile : (20-2)
24197380 / 24184269
Mobile : (20-100)
0004023
Email : idipharma@gmail.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
· Sharq Area Factory
premises
Port Saeed
Name Position
· Hussein Hassan
Hassaan Chairman
· Hassan Hassaan Vice
Chairman
· Khaled Mosaad Al
Behiry Director
· Mohamed Kamal
Salama Director
· Zakia Abdul Fattah Director
· Abdallah Nasr Director
· Dr Wael Al Murshdi General
Manager
· Ahmed Farid Factory
Manager
· Dr Mohamed Abdul
Salam Assistant
General Manager
· Ihab Moustafa Import
Manager
· Wael Roshdy Marketing
Manager
· Farid Al Khateeb Finance
Manager
· Mohamed Borak Business
Development Manager
· Hany Madani Human
Resources Manager
Date of
Establishment : 21st
March 2000
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 3753, Cairo
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
· Hussein Hassan
Hassaan 41.81%
· Hassan Hassaan 41.81%
· Khaled Mosaad Al
Behiry 6.23%
· Zakia Abd El
Fattah 4.92%
· Abdallah Nasr 3.35%
· Mohamed Kamal
Salama 1.88%
Activities: Engaged in the manufacture of pharmaceuticals and cosmetics.
Import Countries: Germany, Italy and India
Export Countries: Yemen, Morocco
and Libya.
Operating Trend: Steady
Subject has a workforce of approximately 315 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
41,000,000 £E
43,000,000
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
24 Sherif Street
Cairo
Tel:
(20-2) 33924175
Fax:
(20-2) 33924143
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 and
the above credit figure is within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
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|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.