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Report No. : |
317712 |
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Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
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Name : |
DSM SINOCHEM
PHARMACEUTICALS EGYPT LLC |
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Registered Office : |
47 Building, 4th Floor, 90th Street, 5th Settlement, North City Centre, Section 1, P O Box: 341, Cairo 11835 |
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Country : |
Egypt |
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Date of Incorporation : |
01.01.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of Pharmaceutical
Ingredients, Raw Materials and API Products. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 : DSM
SINOCHEM PHARMACEUTICALS EGYPT LLC
Country of Origin : Egypt
Legal Form :
Limited Liability Company
Registration Date : 1st
January 2011
Issued Capital : £E
500,000
Paid up Capital : £E
500,000
Total Workforce : 10
Activities :
Manufacturers of pharmaceutical ingredients, raw materials and API
products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
DSM SINOCHEM
PHARMACEUTICALS EGYPT LLC
Building : 47 Building, 4th Floor
Street : 90th Street
Area : 5th Settlement,
North City Centre, Section 1
PO Box : 341
Town : Cairo 11835
Country : Egypt
Telephone : (20-2) 25032860
Facsimile : (20-2) 25032801
Email : randa.mahmoud@dsm.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Cairo.
Name Position
·
Mrs
Randa Mahmoud General
Manager
·
Osama
Ezzeddine Financial
Manager
Date of Establishment : 1st
January 2011
Legal Form :
Limited Liability Company
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
·
Koninklijke DSM NV 50%
Netherlands
·
Sinochem 50%
China
Activities: Engaged in the manufacture of
pharmaceutical ingredients, raw materials and API products.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 10 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.
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
No complaints regarding
subject’s payments have been reported.
Please note that we
were unable to contact the subject directly during our investigation.
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.62.92 |
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|
1 |
Rs.93.57 |
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Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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.