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Report Date : |
11.08.2014 |
IDENTIFICATION DETAILS
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Name : |
FUTURE PHARMACEUTICALS INDUSTRIES SAE |
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Registered Office : |
Building No. 207, Street No. 28, 5th
Settlement, 4th Territory, New |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
2008 |
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Com. Reg. No.: |
23188 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
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No. of Employees : |
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RATING & COMMENTS
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MIRA’s Rating : |
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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 |
-- |
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Maximum Credit Limit : |
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Status : |
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Payment Behaviour : |
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Litigation : |
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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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
ECONOMIC OVERVIEW
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Source
: CIA |
SUMMARY
Company Name :
FUTURE PHARMACEUTICALS INDUSTRIES SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
2008
Commercial Registration Number :
23188, Cairo
Tax Card Number :
245-163-476
Issued Capital :
£E 150,000,000
Paid up Capital :
£E 150,000,000
Total Workforce :
320
Activities :
Manufacture and distribution of pharmaceuticals.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 250,000
Person Interviewed :
Dr Huda Samir , Production Manager
COMPANY NAME
FUTURE PHARMACEUTICALS INDUSTRIES SAE
ADDRESS
Registered &
Physical Address
Location : Building No.
207, Street No. 28, 5th Settlement, 4th Territory
Town : New Cairo
Country : Egypt
Telephone : (20-2) 26180131
Facsimile : (20-2)
26180131
Mobile : (20-11)
6600449 / 11996333
Email : gleithy@future-eg.com
/ m.tawfik@future-eg.com
Premises
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
1st Industrial Zone, Plot No. 4G Factory premises
Badr City
Cairo
Tel: (20-2) 28647580 /
28647581 / 28647582
Fax: (20-2) 28647581 / 28647576
KEY PRINCIPALS
Name Position
Dr Gamal Eddine Nasser Eddine El Leithy Chairman
Dr Alaa Mohamed El Jeyoushi Managing
Director
Dr Joseph Ayat Al Shareef Director
Dr Mostafa Awad Director
Dr Ghada Abdullah Al Shareef Director
Dr Tariq El Attar Marketing
Manager
Magdy Tawfik Finance
Manager
Nasser Saleh Nasser IT
Manager
Marwa Sultan Administration
Manager
Dr Huda Samir Production
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2008, however full production began in
2011.
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 23188, Cairo
Tax Card No. : 245-163-476
Issued Capital : £E 150,000,000
Paid up Capital : £E 150,000,000
Name of
Shareholder (s)
Dr Gamal Eddine Nasser Eddine El Leithy
Dr Alaa Mohamed El Jeyoushi
Dr Joseph Ayat Al Shareef
Dr Mostafa Awad
Dr Ghada Abdullah Al Shareef
OPERATIONS
Activities: Engaged in the manufacture of pharmaceuticals.
Import Countries: Europe and India.
International
Suppliers:
Hitero India
Sinochem India
DSM India
Operating Trend: Steady
Subject has a workforce of approximately 320 employees.
FINANCIAL DATA
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
20,700,000 £E
22,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Dr Huda Samir, Production Manager
BANKERS
National Societe General Bank
5 Champillion Street
Cairo
Tel: (20-2) 27707000
Fax: (20-2) 27707799
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
CREDIT RATING
Recommended credit limit: US$
250,000
GENERAL COMMENTS
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.55 |
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1 |
Rs.103.50 |
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Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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 |
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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.