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Report Date : |
04.04.2014 |
IDENTIFICATION DETAILS
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Name : |
GHATWARY MEDICAL SUPPLY (GMS) |
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Registered Office : |
15/40 Saad Zaghloul Square, Ramallah Station, Ramleh, P O Box 256, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Year of Establishments: |
1993 |
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Com. Reg. No.: |
120034, Alexandria |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
manufacturer of intensive care unit and medical
requisites, including blood transfusion and sterilization equipment, medical
furniture and trolleys |
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No. of Employees |
340 (approximately) |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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, pushing up unemployment levels,
and economic growth is likely to remain slow amid political uncertainty. Cairo
since 2011 has drawn down foreign exchange reserves and depended on foreign
assistance to finance imports and prevent further devaluation of the Egyptian
pound, fearing higher inflation from a weaker currency.
|
Source : CIA |
Company Name : GHATWARY MEDICAL SUPPLY (GMS)
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1993
Commercial Registration Number : 120034, Alexandria
Industrial Registration Number : 239630
Tax Card Number : 100-442-013
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 340
Activities : Manufacturers of medical requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GHATWARY MEDICAL SUPPLY
(GMS)
Registered &
Physical Address
Street : 15/40 Saad Zaghloul Square
Area : Ramallah Station, Ramleh
PO Box : 256
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4877695 / 4877604
Facsimile : (20-3) 4877695 / 4863613
Mobile : (20-122) 2894885
Email : ghatwary@ghatgms.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Office (s)
Location Description
·
2nd
Industrial Zone, Plot No.8, Block 28 Owned
factory premises
Borg El Arab
El Gedida
Alexandria 21131
Tel: (20-3) 4595926 / 4877695
/ 4863613
Fax: (20-3) 4590776
·
11 El
Borsa El Adima Street Showroom
premises
El Mansheya
Alexandria
Tel: (20-3) 4809308
Fax: (20-3) 4863613
·
24 Ghaza Street Rented
office premises
Mohandessin, Giza
Cairo
Tel: (20-2) 3050619
Fax: (20-2) 3447594
Name Position
·
Dr Mohamed Bahaa El Din Ghatwary Managing
Partner
·
Dr Essam El Din Abbas Fahmy El Saharty Partner
·
Mohamed Roshdy Finance
Manager
·
Mahmoud El Zalabany Factory
Manager
·
Ayman
Ahmed Accounts
Manager
·
Shimaa
Moustafa Export
Manager
·
Khaled
Hussein Planning
Manager
Date of Establishment : 1993
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 120034,
Alexandria
Industrial Reg. No. : 239630
Tax
Card No. : 100-442-013
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Name of Shareholder (s) Percentage
·
Dr Mohamed Bahaa El Din Ghatwary 70%
·
Dr Essam El Din Abbas Fahmy El Saharty 20%
·
Mona
Mosei 10%
·
Ghatwary
Computers
15 Saad Zaghloul Square
Ramleh
Alexandria
Tel:
(20-3) 4877695
Fax:
(20-3) 4863613
Activities: Engaged in the manufacture of intensive care
unit and medical requisites, including blood transfusion and sterilization
equipment, medical furniture and trolleys.
Subject is ISO
13485: 9001-2000 accredited.
Import
Countries: Germany, Italy,
China, France, United Kingdom, Mali, Netherlands and the United States of
America
Export
Countries: Saudi Arabia,
United Arab Emirates, Syria, Pakistan, Jordan, Sudan, Yemen, Panama, Italy and
Iran.
Brand Names: GMS
Operating Trend: Steady
Subject has a
workforce of approximately 340 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Sales £E 83,046,776 £E 86,410,893
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Faisal
Islamic Bank of Egypt
7 Victor Pasilly Street
El Azareta
Alexandria
Tel: (20-3) 4911653
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
·
Banque
Misr
El Hanoville Street
Agami
Alexandria
Tel: (20-3) 4302697
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.60.12 |
|
UK Pound |
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.82.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
-- |
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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.