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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
EIMC UNITED PHARMACEUTICALS SAE |
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Registered Office : |
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Country : |
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Year of Establishments: |
1992 |
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Com. Reg. No.: |
3220, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
manufacturer of
human and veterinary pharmaceutical preparations. |
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No. of Employees : |
550 (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 |
|
Risk Category |
ECGC
Classification |
|
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 : EIMC UNITED PHARMACEUTICALS SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Start Date : 1992
Registration Date : 2003
Commercial Registration Number : 3220, Cairo
Issued Capital : £E 80,000,000
Paid up Capital : £E 80,000,000
Total Workforce : 550
Activities : Manufacturers of human and veterinary pharmaceutical preparations.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
EIMC UNITED PHARMACEUTICALS
SAE
Registered &
Physical Address
Building : Pharma Plaza Building
Street : Asmaa Fahmy Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22911494 / 24184011 / 22911406
Facsimile : (20-2) 24180772 / 22911525 /
24144932
Email : info@eimc.com.eg
Premises
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
·
Plot
No. 10D WA 11D Factory
premises
Industrial Zone Centre
Badr City
Helwan
·
23 El
Azhar Street Office
premises
Haram
Giza
Cairo
Tel: (20-2) 37467040
Fax: (20-2) 33846430
·
12 El
Mahdy Street Office
premises
Alexandria
Tel: (20-3) 5595050
Fax: (20-3) 5575724
·
10 Dr
Shafiq Yonis Street Office
premises
Mansoura
Tel: (20-50) 2528020
Fax: (20-50) 2528108
·
Menia Office
premises
Tel: (20-86) 2296594
Fax: (20-86) 2296594
·
20
Hashem Bakr Abu Hegy Street Office
premises
Sohag
Tel: (20-93) 2313494
Fax: (20-93) 2310472
Name Position
·
Dr
Kamal Sabra Chairman
·
Mohamed
El Sayed Ahmed Mohamed Managing
Director
·
Moustafa
Ali Abd El Rahman El Salamouny Director
·
Ahmed
Ali Ahmed El Fardan Director
·
Amin
Ali Hassan Mahgoul Director
·
Fouad
Shawky Finance
Manager
·
Mohamed
Habib Sales
Manager
·
Dr
Ahmed Soliman Purchasing
Manager
Date of Establishment : 1992 however
subject was registered in 2003
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 3220, Cairo
Issued Capital : £E 80,000,000
Paid up Capital : £E 80,000,000
Name of Shareholder
(s) Percentage
·
Egyptian
International Medical Centre 40%
·
Korea
United Pharma 8%
South Korea
·
Ahmed
Ali Ahmed El Fardan 5%
·
Hassan
Ahmed Mohamed Farhana 5%
·
Mohamed
Akif 3%
·
Dr Awad
Gabr Awad Khalil 2%
·
Mohamed
El Sayed Ahmed Mohamed 2%
·
Dok
Young King Pharma 2%
South Korea
·
Amin Ali
Hassan Mahgoul 1%
·
Local
businessmen and private investors 32%
Activities: Engaged in the manufacture of human and
veterinary pharmaceutical preparations.
Production
Capacity: 30 million
packages per year.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of approximately 550 employees.
Companies
registered in Egypt are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
·
Misr
International Bank (MIBANK)
14 Alfy Street
PO Box: 631
Cairo
Tel: (20-2) 25931002
Fax: (20-2) 25912306
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.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.