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Report Date : |
17.10.2013
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IDENTIFICATION DETAILS
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Name : |
HAIDYLENA FOR ADVANCED MEDICAL INDUSTRIES SAE |
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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 : |
1997 |
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Com. Reg. No.: |
307162 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and export of
medical equipment and requisites |
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No. of Employees : |
1,500 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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) |
|
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 : HAIDYLENA FOR ADVANCED MEDICAL INDUSTRIES SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1997
Commercial Registration Number : 307162
Industrial Registration Number : 28108
Tax Card Number : 205-032-362
Issued Capital : £E 75,000,000
Paid up Capital : £E 75,000,000
Total Workforce : 1,500
Activities : Manufacture and export of medical equipment and requisites
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
HAIDYLENA FOR ADVANCED MEDICAL INDUSTRIES SAE
Street : 26 Makram Ebeid Street
Area : 6th District, Nasr City
Town : Cairo 11371
Country : Egypt
Telephone : (20-2) 2750513 / 2706150 / 2706149/ 2706151
Facsimile : (20-2) 2750552
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· 2nd
Industrial Zone, Plot 87/72 Owned
office premises
6th of October City
Tel:
(20-2) 38320546 / 38320547 / 38320548
Fax:
(20-2) 38332555 / 38320549
Name Position
· Ibrahim
Fawzy Chairman
· Ashraf
Sorour Managing
Director
· Mohamed
Ismail Director
· Amany El Assra Director
· Fatheya
Abd El Rehim General
Manager
· Hossam
Hanafy Ibrahim Finance
Manager
· Samy
Ali Hussien Sales
Manager
· Tarek
Abd El Moneim Human
Resources Manager
· Waleed Mohey IT
Manager
· El Sayed Hussein Export
Manager
Date of
Establishment : 1997
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 307162
Industrial Reg.
No. : 28108
Tax Card No. : 205-032-362
Issued Capital : £E 75,000,000
Paid up Capital : £E 75,000,000
· Ahmed
Hany Mahmoud Mohamed Sorour 34.18%
· Grand
View Investment Inc 30.00%
· Haidy
Hany Mahmoud Moahmed Sorour 15.84%
· Lina
Hany Mahmoud Moahmed Sorour 15.84%
· Amany
El Assra 3.14%
· Dr
Hany Mahmoud Mohamed Sorour 1.00%
Activities: Engaged in the manufacture and export of
medical equipment and requisites, including blood sacks and medical solutions.
Import Countries: Germany, Italy, Turkey, Thailand and the United
States of America.
Export Countries: Morocco, Tunisia, Sudan,
Yemen, United Arab Emirates, Mali, Vietnam, Malaysia, Turkey,
Slovenia, Romania, France, Netherlands,
Malta, and Spain.
Operating Trend: Steady
Subject has a workforce of approximately 1,500 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
314,037,724 £E
326,866,345
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
Arab Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 33029069 / 33029070
Fax: (20-2) 33029068
·
Al Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2)
33379363
Fax: (20-2)
33772959
· 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.
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.61.69 |
|
|
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
|
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.