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Report Date : |
04.10.2013 |
IDENTIFICATION DETAILS
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Name : |
EL OBOUR MODERN PHARMACEUTICAL INDUSTRIES CO |
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Registered Office : |
Plot No. 18, Block
13024, 1st Industrial Zone, Obour City, Kaliobeya, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
2002 |
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Com. Reg. No.: |
297061 |
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Legal Form : |
General
Partnership |
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Line of Business : |
manufacturer of veterinary and human
drugs and pharmaceuticals including Opitryl 10, Opidol 25, Opi Erythro 20, Opi
Colistin 60 MIU, Doxycycline + Colistin, Opigent, Antihistaminic,
Gastrointestinal, Cardiovascular, Antipyretics, Analgesics, Antibiotic and
CNS |
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No. of Employees : |
180 |
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 : EL OBOUR
MODERN PHARMACEUTICAL INDUSTRIES CO
Country of Origin : Egypt
Legal Form :
General Partnership
Registration Date : 2002
Commercial
Registration Number : 297061
Partners Capital : £E
22,000,000
Total Workforce : 180
Activities :
Manufacturers of veterinary and human drugs and pharmaceuticals
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
EL OBOUR MODERN
PHARMACEUTICAL INDUSTRIES CO
Registered &
Physical Address
Location : Plot No. 18, Block 13024, 1st
Industrial Zone
Area : Obour City, Kaliobeya
Town : Cairo
Country : Egypt
Telephone : (20-2) 46100296 / 46100297
Facsimile : (20-2) 46101122
Mobile : (20-10)
6810077
Email : info@opipharma.com / info@opippharma.org
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Cairo.
Branch Office (s)
Location Description
·
12 El Moalmeen Street Rented
office premises
Zagazig
Tel: (20-55) 2325232 / 2325235 / 2365226
Fax: (20-55) 2325232
Mob: (20-12) 7911193
Name Position
·
Dr Magda Ahmed Al Sugair Managing
Partner
·
Ahmed Mohamed Salem Partner
·
Ahmed Hesham Ahmed Al Sugair General
Manager
·
Othman Abdulrahim Finance
Manager
·
Dr Ashraf Mohamed Marketing
Manager
·
Dr Afaf Ibrahim Factory
Manager
Date of Establishment : 2002
Legal Form :
General Partnership
Commercial Reg. No. : 297061
Partners Capital : £E 22,000,000
Name of Partner (s)
·
Dr Magda Ahmed Al Sugair
·
Ahmed Mohamed Salem
·
Jordanian Pharmaceutical Co
Amman
Jordan
Activities: Engaged in the manufacture of veterinary and human drugs
and pharmaceuticals.
Subject’s products include Opitryl 10, Opidol 25, Opi Erythro 20, Opi
Colistin 60 MIU, Doxycycline + Colistin, Opigent, Antihistaminic,
Gastrointestinal, Cardiovascular, Antipyretics, Analgesics, Antibiotic and CNS.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of 180 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 56,000,000 £E 57,850,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Suez
Canal Bank
14 Wadi El Nile Street
Nahda Square
Maadi
PO Box: 249
Cairo
Tel: (20-2) 33582681
Fax: (20-2) 33582274
·
Export
Development Bank of Egypt
108 Mohi El Din Abu El Ezz Street
Mohandessin
Cairo 11111
Tel: (20-2) 33619005 /
33385877
Fax: (20-2) 33385940 /
33385938
No complaints
regarding subject’s payments have been reported.
Local sources report
that payment obligations are met in a generally timely manner and the operating
history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.84.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.