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Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
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Name : |
AL RAWAD PHARMA INDUSTRIES CO |
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Registered Office : |
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Country : |
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Date of Incorporation : |
August 2004 |
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Com. Reg. No.: |
283, 10th of |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject is engaged in the manufacture of pharmaceuticals
and drugs |
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No. of Employees : |
150 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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
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Source
: CIA |
Company Name : AL RAWAD PHARMA INDUSTRIES CO
Also Known As : AL RAWAD PHARMA INC CO
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : August 2004
Commercial Registration Number : 283, 10th of
Ramadan City
Tax Card Number : 432-929-940
Issued Capital : £E 8,000,000
Paid up Capital : £E 8,000,000
Total Workforce : 150
Activities : Manufacturers of pharmaceuticals and drugs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sameh Mohamed Abdul Fattah Al Akkad, Director
AL RAWAD PHARMA INDUSTRIES CO
AL RAWAD PHARMA INC CO
Location : 8 Saudia
Street
Town : Zagazig
Country : Egypt
Telephone : (20-55) 2387040 / 2387050
Facsimile : (20-55) 2387040
Mobile : (20-100)
081966
Email : rpicpharma@yahoo.com
Subject operates from a medium sized suite of offices that are rented
and located in the Suburban Business Area of Zagazig.
Branch Office (s)
Location Description
· Plot
No. 146, Block B3 Factory
premises
Industrial
Zone
10th Of Ramadan City
Tel:
(20-15) 375817
Fax:
(20-15) 375823
· 22
Mohamed Joma Street Sales
office
Heliopolis, Misr El Gedidah
Cairo
Tel:
(20-2) 26398448
Fax:
(20-2) 26398448
Name Position
· Dr
Khalid Mohamed Abdul Fattah Al Akkad Chairman
· Dr
Hisham Mohamed Hussain Al Maghrabi Managing
Director
· Dr
Mohamed Othman Lofty Director
· Sameh
Mohamed Abdul Fattah Al Akkad Director
· Dr Abdul Zaher Hamed Director
· Dr Mohamed El Mahdi Director
· Dr Mohamed Hamdy El Ass Director
· Tariq Suwaidan Business
Development Manager
· Dr Nabiha Balikini Production
Manager
· Shrihan Adel Administration
Executive
Date of
Establishment : August 2004
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 283, 10th
of Ramadan City
Tax Card No. : 432-929-940
Authorised Capital : £E 20,000,000
Issued Capital : £E 8,000,000
Paid up Capital : £E 8,000,000
· Dr
Khalid Mohamed Abdul Fattah Al Akkad
· Dr
Hisham Mohamed Hussain Al Maghrabi
· Dr
Mohamed Othman Lofty
· Sameh
Mohamed Abdul Fattah Al Akkad
· Dr Abdul Zaher Hamed
· Dr Mohamed El Mahdi
· Dr Mohamed Hamdy El Ass
Activities: Engaged in the manufacture of pharmaceuticals
and drugs. Subject began manufacturing activities at the start of 2009 and was previously
marketing and distributing pharmaceutical products.
Import Countries: Italy, Germany and India
Operating Trend: Steady
Subject has a workforce of approximately 150 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
18,135,000 £E
19,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Sameh Mohamed Abdul
Fattah Al Akkad, Director
· Faisal Islamic
Bank of Egypt
1113 Corniche El
Nil Street
Cairo
Tel: (20-2)
22753165
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.45 |
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|
1 |
Rs.102.01 |
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Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
-- |
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.