|
Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
LIPTIS EGYPT FOR PHARMACEUTICAL PRODUCTS CO |
|
|
|
|
Formerly Known As : |
LIPTIS EGYPT CO / LIPTIS PHARMACEUTICALS |
|
|
|
|
Registered Office : |
65
Manial Street, El Pasha Square, Manial, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
Com. Reg. No.: |
48828 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Engaged in the manufacture of pharmaceutical preparations. Subject is currently in the process of launching a new production line for baby milk under licence of Hok Dorf (Switzerland). |
|
|
|
|
No. of Employees |
250 |
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 |
|
Maximum Credit Limit : |
US$ 250,000 |
|
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 : LIPTIS EGYPT FOR PHARMACEUTICAL PRODUCTS
CO
Also Known As : LIPTIS EGYPT CO / LIPTIS PHARMACEUTICALS
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 2004
Commercial
Registration Number : 48828
Tax Card Number : 431-157-022
Issued Capital : £E
10,000,000
Paid up Capital : £E
10,000,000
Total Workforce : 250
Activities :
Manufacturers of pharmaceutical preparations.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 250,000
LIPTIS EGYPT FOR PHARMACEUTICAL PRODUCTS CO
ALSO KNOWN AS: LIPTIS EGYPT CO / LIPTIS PHARMACEUTICALS
Street : 65
Manial Street
Area : El
Pasha Square, Manial
Town : Cairo
Country : Egypt
Telephone : (20-2) 25310174
Facsimile : (20-2) 23687847
/ 23683423
Subject operates from
a large suite of offices that are rented and located in the Suburban Business
Area of Cairo.
Branch Office
(s)
Location Description
·
6th Industrial Zone, Area B2 Factory
premises
6th
of October City
Tel: (20-2)
38290662
Name Position
·
Dr Lotfy Ismail Omar Managing
Partner
·
Dr Ahmed Samir General
Manager
·
Ahmed Taha Finance
Manager
·
Ayman Abdallah Administration
Manager
·
Ahmed El Sharkawy Purchasing
Manager
·
Mohamed Fekri Sales
Manager
Date of Establishment : 2004
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 48828
Tax Card No. : 431-157-022
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
·
Dr Lotfy Ismail Omar
·
Members
of Dr Lotfy Ismail Omar’s family
Activities: Engaged in the
manufacture of pharmaceutical preparations. Subject is currently in the process
of
launching a new production
line for baby milk under licence of Hok Dorf (Switzerland).
Import
Countries: Switzerland and
Egypt.
Subject has a
workforce of approximately 250 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.
·
Export
Development Bank of Egypt
108 Mohi El Din Abu El Ezz Street
Mohandessin
Cairo 11111
Tel: (20-2) 33619005 /
33385877
Fax: (20-2) 33385940 /
33385938
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.59.05 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.80.60 |
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.