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Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
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Name : |
EMA PHARM |
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Registered Office : |
Pharma Plaza Building, Asma Fahmy Street, Nozha, Nasr City, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1995 |
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|
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Subject is
engaged in the production and marketing of herbal pharmaceutical
preparations. |
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|
|
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No. of Employees : |
110 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Egypt |
B1 |
B1 |
|
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 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, pushing up unemployment levels, and economic growth is likely
to remain slow amid political uncertainty. Cairo since 2011 has drawn down
foreign exchange reserves and depended on foreign assistance to finance imports
and prevent further devaluation of the Egyptian pound, fearing higher inflation
from a weaker currency.
|
Source
: CIA |
Company Name : EMA PHARM
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 1995
Issued Capital : £E
500,000
Paid up Capital : £E
500,000
Total Workforce : 110
Activities :
Production and marketing of herbal pharmaceutical preparations
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
EMA PHARM
Registered & Physical Address
Building : Pharma Plaza Building
Street : Asma Fahmy Street
Area : Nozha, Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 24177383 / 24177407
Facsimile : (20-2) 24177383
Email : info@emapharm.com
/ emapharm@hotmail.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Suburban Business Area of Cairo.
Branch Office
(s)
Location Description
Alexandria Sales
Office
Tel: (20-12)
2464968
Mansoura Sales Office
Tel: (20-12)
2467708
Sohag Sales Office
Tel: (20-93) 313494
Name Position
Ahmed Badr Managing
Partner
Emam El Amin Partner
Alaa Abd El Moaaty Finance
Manager
Dr Khaled El
Zekhary Sales
Manager
Date of
Establishment : 1995
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder (s)
Ahmed Badr
Emam El Amin
Activities: Engaged
in the production and marketing of herbal pharmaceutical preparations.
Subject’s products are manufactured at 3rd party facilities including Pharoania
Pharmaceuticals, Amriya pharmaceuticals, Technopharm Egypt, and R. P Sherer
Egypt.
Import
Countries: Canada, United States of America, China
and India
International
Suppliers:
Accucaps Canada
Sante Naturelle Canada
Thera Plantes Canada
Flora Canada
Jingsu Soho International Group Corporation China
Shaanxi Scidoor Hi-Tech Biology Co Ltd China
Hetero Chemicals Ltd India
Brand Names: EMA
PHARM
Operating Trend: Steady
Subject has a workforce
of approximately 110 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 36,240,000 £E 38,700,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
Egyptian American
Bank
4 & 6 Hassan
Sabri
Zamalek
PO Box: 1825
Cairo
Tel: (20-2)
33416150
Fax: (20-2) 33420265
National Bank of
Egypt
24, Sherif Street
Cairo
Tel: (20-2)
33924175
Fax: (20-2)
33924143
No complaints
regarding subject’s payments have been reported.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the
business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.