MIRA INFORM REPORT
|
Report No. : |
318568 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BORG
PHARMACEUTICAL INDUSTRIES SAE |
|
|
|
|
Registered Office : |
3rd Industrial Zone, Block 17, Plot 3 New Borg El Arab City Alexandria |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Com. Reg. No.: |
1228, Alexandria |
|
|
|
|
Legal Form : |
Egyptian Joint
Stock Company |
|
|
|
|
Line of Business : |
Engaged in the
manufacture of human pharmaceuticals and cosmetics |
|
|
|
|
No. of Employee : |
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 |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
SUMMARY
Company Name : BORG
PHARMACEUTICAL INDUSTRIES SAE
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 2001
Commercial
Registration Number : 1228,
Alexandria
Tax Card No. :
706-016-793
Issued Capital : £E
50,000,000
Paid up Capital : £E
50,000,000
Total Workforce :
250
Activities :
Manufacturers of human pharmaceuticals and cosmetics
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Abu El Anain, Finance Manager
COMPANY
NAME
BORG PHARMACEUTICAL
INDUSTRIES SAE
ADDRESS
Registered & Physical
Address
Location : 3rd Industrial Zone,
Block 17, Plot 3
Area : New Borg El Arab City
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4596931 / 4596932 / 4596933 /
4596934 / 4622151/2/3/4
Facsimile : (20-3) 4596930
Mobile : (20-122) 7865773 / 78444425 / 1723610
Email : finance@borg-phama.com
Please note that
the subject was previously located at El Nahda Building, Sarayat El Maadi,
Maadi, PO Box 160, Cairo.
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Alexandria.
Branch Office
(s)
Location Description
·
22
Mohamed Saleh Abu Youssef Street Office
premises
Sapa Pacha
El Bostan
Alexandria
Tel: (20-3) 5847019
Fax: (20-3) 5847050
·
Building
No. 420, Street No. 9, Mokattam Office
premises
Cairo
Tel: (20-2) 25042697
Fax: (20-2) 25042694
·
14 Aly Ibn Abi Taleb Street Office
premises
Samia El Gamal
Zone
El Mansoura, El
Dakahleya
Tel: (20-50) 2250833
Fax: (20-50) 2250833
KEY
PRINCIPALS
Name Position
·
Dr
Hisham Hussein Tharwat Hagar Chairman
& Chief Executive Officer
·
Khalid
Ahmed Dawoud Director
·
Shareef
Bebers Director
·
Antone
Safi Director
·
Mohamed Abu El Anain Finance
Manager
·
Dr Maher El Sharqawi Planning
& Purchasing Manager
·
Ahmed Younas Export
Manager
·
Ahmed
Arous Sales
Manager
·
Jental
Soltan Production
Manager
·
Aml
Hamza Office
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 2001
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 1228,
Alexandria
Tax Card No. : 706-016-793
Issued Capital : £E 50,000,000
Paid up Capital : £E 50,000,000
Name of Shareholder (s) Percentage
·
Dr
Hisham Hussein Tharwat Hagar 36.00%
·
Basmalah
Company 25.00%
·
Shareef
Bebers 4.40%
·
Khalid
Ahmed Dawoud 4.00%
·
Antone
Safi 3.78%
·
Egyptian
businessmen & private investors 26.82%
OPERATIONS
Activities: Engaged in the manufacture of human pharmaceuticals
and cosmetics.
Export
Countries: Yemen, Qatar,
Kenya and Oman.
Operating Trend: Steady
Subject has a
workforce of approximately 250 employees.
FINANCIAL
DATA
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 85,000,000 £E 92,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were provided by Mohamed Abu El
Anain, Finance Manager.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Export
Development Bank of Egypt
95 26th July Road
Azarita
Alexandria
Tel: (20-3) 4869860 / 4868488
Fax: (20-3) 4829206
·
Egyptian
Gulf Bank
El Orman Plaza Building
8-10 Ahmed Nessim Street
PO Box: 56
Cairo
Tel: (20-2) 3606580 / 3606467
Fax: (20-2) 3420265 / 3606512
PAYMENT
HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL
COMMENTS
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.63.61 |
|
|
1 |
Rs.96.56 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.