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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL NAPI PHARMACEUTICALS (GNP) |
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|
|
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Registered Office : |
2nd Industrial Zone, Street No. 18, Plot No. 40 Sixth of
October City |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Incorporation : |
1995 |
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|
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Com. Reg. No.: |
2048 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of pharmaceuticals |
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No. of Employees : |
430 |
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 |
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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 |
|
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 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 : GLOBAL NAPI PHARMACEUTICALS (GNP)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1995
Commercial Registration Number : 2048
Issued Capital : £E 38,000,000
Paid up Capital : £E 38,000,000
Total Workforce : 430
Activities : Manufacture of pharmaceuticals
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GLOBAL NAPI PHARMACEUTICALS (GNP)
Location : 2nd
Industrial Zone, Street No. 18, Plot No. 40
Town : Sixth of
October City
Country : Egypt
Telephone : (20-2) 38333350
/ 38333354 / 38333352 / 38333353
Facsimile : (20-2)
38333351
Mobile : (20-12)
2125392 / 3256693
Email : mail@globalnapi.com
Subject operates from a suite of offices and a factory covering an area
of 20,000 square metres that are owned and located in the Industrial Area of
the Sixth of October City.
Branch Office (s)
Location Description
· 297 Ramsis Street,
2nd Floor Rented
office premises
Cairo
Tel: (20-2) 26748275 /
26748276 / 26748277 / 26748278
Fax: (20-2)
26748279
· 207 Ramsis Street,
2nd Floor Rented
office premises
Daher
Cairo
Tel: (20-2)
25888001 / 25888002 / 25888003 / 25888004
Fax:
(20-2) 25888003
Name Position
· Dr Makram El Sayed
Mehana Fahmy Chairman
· Shawky Ghattas Director
· Maurice Ghattas Director
· William Sayed
Mehana Director
· Dr Mohamed Hussein
Abd El Wahab Director
· Dr Gamal El Leithy Director
· Dr Mahmoud Ghorab Director
· Peter Makram Sayed Mehana Fahmy Director
· Ibrahim Maurice Ghattas Director
· Maher Naguib Director
· Emad Wasfy General
Manager
· Dr Wedad Ishak Factory
Manager
· Mona Barsoum Human
Resources Manager
· Sameh Samy Sales
Manager
· Adel Sultan Marketing
Manager
· Medhat Sadek Finance
Manager
· George Roushdy Purchasing
Manager
· Faisal Fouad Business Development Manager
· Sameh Samy Office
Manager
Date of
Establishment : 1995
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 2048
Issued Capital : £E 38,000,000
Paid up Capital : £E 38,000,000
· Dr Makram El Sayed
Mehana Fahmy 33%
· Members of Karim Roshdy’s Family 33%
· Shawky Ghattas 17%
· Maurice Ghattas 17%
· Ramco Co
· Makram Mehane
Pharmaceuticals (MMP)
· Monica Makram
Mehane (3MP)
Activities: Engaged in the manufacture of pharmaceuticals specialising in
therapeutic classes such as cardio –
vascular, anti inflammatory, respiratory
tract, anti infective gastro intestinal, and dermatological preparations, as well
as food supplements and natural products.
Subject produces pharmaceuticals under
license from the following companies: Merck & Co, White Hall, Roche,
Aventis, Sanofi Synthelabo, Elerte, Sisu, Rogier, Refarmed, MIAT, Valpharma, Nova
Pharma, Prodes, Lek, Help, Unipharma and Serolam, Lemery, Pierre Faber, Pan
Laboratories, PH&T, Covex.
Subject is ISO
9001 and ISO 14001 accredited.
Import Countries: France, Netherlands,
Spain, Sweden, Italy and India
Export Countries: Yemen, Sudan, Kenya,
Uganda, Tanzania and Iraq
Operating Trend: Steady
Subject has a workforce of approximately 430 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
303,000,000 £E
383,000,000
Local sources consider subject’s financial condition to be Good.
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
·
American Express Bank (Amex)
PO Box: 1824
Cairo
Tel: (20-2)
33608228
Fax: (20-2)
33608227
·
Arab African International Bank
Main Branch
Sixth of October
City
A/C No. 508254
·
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 155,000
Amount overdue 0
Payment terms 180
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.