|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
9 Abou El Kassem El Mahdy Street, 7th District, Nasr City Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Year of Establishment : |
1990 |
|
|
|
|
Com. Reg. No.: |
2940 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in the manufacture of medical preparations, cosmetics, skin care products, shampoo and shaving creams |
|
|
|
|
No of Employees : |
350 |
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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 : MASH FOR PHARMACEUTICAL & COSMETICS INDUSTRIES SAE
Also Known As : MASH PREMIERE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1990
Commercial Registration Number : 2940, Cairo
Tax Card Number : 205-125-875
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 350
Activities : Manufacturers of medical preparations, cosmetics, skin care products,
shampoo and shaving creams.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shayma Samir, Purchasing Officer
COMPANY NAME: MASH FOR PHARMACEUTICAL & COSMETICS INDUSTRIES
SAE
ALSO KNOWN AS: MASH PREMIERE
Street : 9 Abou El Kassem El Mahdy
Street
Area : 7th District, Nasr
City
Town : Cairo
Country : Egypt
Telephone : (20-2) 24040468 / 24044033 / 24044003
Facsimile : (20-2) 24040465
Mobile : (20-12) 00007971 / 00003010 /
00007070
Email : sale@mashpharma.com / egypt@mashpharma.com / egypt@mashpremiere.net
Subject operates
from a large sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
3rd
Industrial Zone, Plot No. 54/2 Factory
premises
Cairo Ismailia Road
Badr City
Cairo
Tel: (20-2) 28641775
Fax: (20-2) 28641775
·
Alexandria Office
premises
Tel: (20-3) 5430605
Fax: (20-3) 5439614
·
Mansoura Office
premises
Tel: (20-50) 2286180
Name Position
·
Mahmoud El Hendawy Chairman
·
Dr Sayed El Hendawy Managing
Director
·
Ali El Hendawy Factory
Manager
·
Mohamed
Ismail Accounts
Manager
·
Shayma
Samir Purchasing
Officer
Date of Establishment : 1990
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg.
No. : 2940, Cairo
Tax
Card No. : 205-125-875
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
·
Hany
Shaalan 25.0%
·
Ayman
Badr 25.0%
·
Mahmoud El Hendawy 22.5%
·
Dr Sayed El Hendawy 22.5%
·
Ali El Hendawy 5.0%
Activities: Engaged in the manufacture of medical preparations,
cosmetics, skin care products, shampoo and shaving creams.
Import
Countries: China, France
and India.
International Suppliers:
·
Analtec
Labs India
·
SMS
Pharmaceuticals India
Brand Names: MASH
Export Countries: Kuwait, Sudan, Saudi Arabia and Yemen.
Operating Trend: Steady
Subject has a
workforce of approximately 350 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 33,400,000 £E 35,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
·
ABC
Bank
111 Al Gomhorya Street
Mansoura
Acc No. 1699670473020018
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. 59.13 |
|
|
1 |
Rs. 99.02 |
|
Euro |
1 |
Rs. 80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
|
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.