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Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BAYTARA FOR PHARMACEUTICAL TECHNOLOGY |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Year of Establishments: |
2006 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
manufacturer of
veterinary pharmaceuticals. |
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No. of Employees |
65 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
Concern Name : BAYTARA FOR PHARMACEUTICAL TECHNOLOGY
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2006
Invested Capital : £E 1,500,000
Total Workforce : 65
Activities : Manufacturers of veterinary pharmaceuticals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
BAYTARA FOR
PHARMACEUTICAL TECHNOLOGY
Registered &
Physical Address
Street :
185 Oruba Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22667401
Facsimile : (20-2) 22670787
Mobile : (20-100) 6613513
Email : wellmeme@hotmail.com
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
El
Sadat City Factory
premises
Tel: (20-100) 6613513
Name Position
·
Dr Hamid
Hassan El Sayed Hassan El Sayed Proprietor
& General Manager
·
Dr
Mohamed Bahjat Assistant
General Manager
Date of Establishment : 2006
Legal Form :
Sole Proprietorship
Invested Capital
: £E 1,500,000
Dr Hamid Hassan El
Sayed Hassan El Sayed is the sole proprietor of the business.
·
Delta
Vet
185 Oruba Street
Heliopolis
Cairo
Activities: Engaged in the manufacture of veterinary
pharmaceuticals.
Import
Countries: Europe and the Far
East
Operating Trend: Steady
Subject has a
workforce of 65 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales £E 15,750,000 £E 16,380,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Banking Corporation
PO Box: 781
Cairo
Tel: (20-2) 25745488 / 25780417
Fax: (20-2) 25780416
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 business is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
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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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.