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Report No. : |
317149 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
PHARMAPLAST SAE |
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Registered Office : |
High Way Road, Kafr El Zayat, PO Box 38, Gharbeya |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1985 |
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Com. Reg. No.: |
89647 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the manufacture and export of medical and surgical
disposable products made of textiles, rubber and plastic materials. Subject
also produces medical adhesive tapes, postoperative dressings, and first aid
bandages. |
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No. of Employees : |
275 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Egypt |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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 pursued
business climate reforms to attract foreign investment and facilitate growth.
Poor living conditions and limited job opportunities for the average Egyptian
contribute to public discontent, a major factor leading to the January 2011
revolution that ousted Mubarak. The uncertain political, security, and policy
environment since 2011 caused economic growth to slow significantly, hurting
tourism, manufacturing, and other sectors and pushing up unemployment. Weak
growth and limited foreign exchange earnings have made public finances
unsustainable, leaving authorities dependent on expensive borrowing for deficit
finance and on Gulf allies to help cover the import bill.
|
Source
: CIA |
Company Name :
PHARMAPLAST
SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1985
Commercial Registration Number :
89647, Tanta
Tax Card Number :
100-188-656
Industry Registration Number :
49830
Issued Capital :
£E 10,000,000
Paid up Capital :
£E 10,000,000
Total Workforce : 275
Activities :
Manufacture and export of medical and surgical materials and
equipment
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
PHARMAPLAST SAE
Registered &
Physical Address
Street : High Way
Road
Area : Kafr El
Zayat
PO Box : 38
Town : Gharbeya
Country : Egypt
Telephone : (20-40) 2545643
Facsimile : (20-40)
2545645
Mobile : (20-122)
7381643
Email : sales@pharmaplast-online.com
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Gharbeya.
Branch Office (s)
Location Description
Amriya Free Zone Rented
warehouse premises
Alexandria 23512
Tel: (20-3) 4485866 / 4500264
Fax: (20-3) 4485867 / 4500263
Name Position
Dr Wagdy Naguib Farag Managing
Director
Dr Mamhoud Halim Attia Gad Director
Dr Ihab Mamhoud Haliam Attia Gad Director
George Kamal Accounts
Manager
Ayman Farid Financial
Controller
Date of Establishment : 1985
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 89647, Tanta
Tax Card No. : 100-188-656
Industry Reg. No. : 49830
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Name of
Shareholder (s)
Dr Wagdy Naguib Farag
Dr Mamhoud Halim Attia Gad
Dr Ihab Mamhoud Haliam Attia Gad
Activities: Engaged in the manufacture and export of medical and surgical
disposable products made of textiles, rubber and plastic materials. Subject
also produces medical adhesive tapes, postoperative dressings, and first aid
bandages.
The company is ISO 9002 accredited.
Import Countries: Belgium, China and Italy
International Suppliers:
Carta Lavarzioni Italy
Ever Front China
Export Countries: Europe
Brand Names: NEO PLAST, SILK PLAST, PHARMAPORE, PHARMA FIX,
PHARMAPAD, CURE-AID and DR AID
Operating Trend: Steady
Subject has a workforce of approximately 275 employees.
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales £E
61,800,000 £E 65,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Ayman Farid, Financial Controller
Arab Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 3029069 / 3029070
Fax: (20-2) 3029068
National Bank for Development
5 El Borsa El Gedida Street
Cairo
Tel: (20-2) 3921529
Fax: (20-2) 3905681
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.62.37 |
|
|
1 |
Rs.92.44 |
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Euro |
1 |
Rs.66.55 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.