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Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARKVILLE
PHARMACEUTICALS |
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Registered Office : |
276 Abd El Salam Aref Street, Louran, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.05.2007 |
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Com. Reg. No.: |
55791, Alexandria |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Engaged in the
import and distribution of pharmaceuticals, including gynaecological,
dermatological, anti- diabetic, anti-hypertension, anti-cancer and
anti-inflammatory products. |
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|
|
No. of Employees |
90 |
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 |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 growth. Poor living conditions
combined with limited job opportunities for the average Egyptian contribute 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 remains slow amid political uncertainty, government
transitions, unrest, and cycles of violence. Cairo since 2011 has drawn down
foreign exchange reserves and depended on foreign assistance, particularly from
Gulf countries, to finance imports and energy products and prevent further
devaluation of the Egyptian pound, fearing higher inflation from a weaker
currency
|
Source
: CIA |
Company Name : PARKVILLE
PHARMACEUTICALS
Country of Origin : Egypt
Legal Form : Limited
Liability Company
Registration Date : 1st
May 2007
Commercial
Registration Number : 55791,
Alexandria
Tax Card Number : 328-210-366
Issued Capital : £E
1,000,000
Paid up Capital : £E
1,000,000
Total Workforce : 90
Activities :
Distributors of pharmaceuticals
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dr Samir Hassan Ali Ashmawi, Managing
Director
PARKVILLE
PHARMACEUTICALS
Street : 276 Abd El Salam Aref Street
Area : Louran
Town : Alexandria
Country : Egypt
Telephone : (20-3) 3596966
Facsimile : (20-3) 3596966
Mobile : (20-12) 76500500 / 22124485
Email : Parkville.eg@gmail.com / sashmawi@gmail.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Offices
Location Description
·
71 Abd El Moneim Riyad Street Office
premises
Mohandessin
Cairo
Tel: (20-2)
33045185
Fax: (20-2)
33045185
·
Beni
Suef Office
premises
Name Position
·
Dr Samir Hassan Ali Ashmawi Managing
Director
·
Shareef Al Sayed Jaber Basyouni Director
·
Mohamed Farooq Farag Abdulrahman Director
Date of Establishment : 1st
May 2007
Legal Form :
Limited Liability Company
Commercial
Reg. No. : 55791, Alexandria
Tax
Card No. : 328-210-366
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
·
Dr Samir Hassan Ali Ashmawi
·
Shareef Al Sayed Jaber Basyouni
·
Mohamed Farooq Farag Abdulrahman
Activities: Engaged in the import and distribution of
pharmaceuticals, including gynaecological, dermatological, anti- diabetic,
anti-hypertension, anti-cancer and anti-inflammatory products.
Import
Countries: Europe, South
Korea and China.
International Suppliers:
·
Fire
Star South
Korea
·
Lilly
Export Turkey
·
Riviera Austria
·
Lainco Spain
·
Tam
Dragon China
· Thinrpo China
Operating Trend: Steady
Subject has a
workforce of 90 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 13,625,000 £E 14,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Dr Samir Hassan Ali
Ashmawi, Managing Partner
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
·
Misr
International Bank (MIBANK)
Raml Station
Alexandria
Tel: (20-3) 4828174 / 4828213
Fax:
(20-3) 4838216
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.60.27 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
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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 |
|
|
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.