|
Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL RAWAD
PHARMACEUTICAL INDUSTRIES CO |
|
|
|
|
Registered Office : |
8 Saudia Street,
Zagazig |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
August 2004 |
|
|
|
|
Legal Form : |
Egyptian Joint
Stock Company |
|
|
|
|
Line of Business : |
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 |
|
|
|
|
No. of Employees |
150 |
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 : AL RAWAD PHARMACEUTICAL 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 : Dr Nourah Al Akkad, Commercial Manager
AL RAWAD
PHARMACEUTICAL INDUSTRIES CO
ALSO KNOWN AS: 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 / sameh_alakkad@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
·
Dr Nourah Al Akkad Commercial
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.
Please note that
local correspondents spoke to Dr Nourah Al Akkad, Commercial
Manager, who stated that the correct name of the subject is “Al Rawad
Pharmaceutical Industries Co”.
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.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.