|
Report No. : |
334573 |
|
Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
TENTH OF RAMADAN FOR PHARMACEUTICAL INDUSTRIES &
DIAGNOSTIC REAGENTS (RAMEDA) |
|
|
|
|
Registered Office : |
2nd
Industrial Zone, Plot No.5, Street No. 20, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Year of Establishment : |
1986 |
|
|
|
|
Com. Reg. No.: |
84008, 6th
of |
|
|
|
|
Legal Form : |
Egyptian Joint
Stock Company |
|
|
|
|
Line of Business : |
Manufacturers of Pharmaceuticals and Diagnostic Chemicals. |
|
|
|
|
No. of Employees : |
650 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. Egypt's current
Constitution passed in a referendum that took place in January 2014.
|
Source
: CIA |
Company Name : TENTH OF RAMADAN FOR PHARMACEUTICAL INDUSTRIES &
DIAGNOSTIC REAGENTS (RAMEDA)
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 1986
Commercial
Registration Number : 84008, 6th
of October City
Tax Card Number : 100-330-096
Issued Capital : ŁE
200,000,000
Paid up Capital : ŁE
200,000,000
Total Workforce : 650
Activities :
Manufacturers of pharmaceuticals and diagnostic
chemicals.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
TENTH OF RAMADAN FOR PHARMACEUTICAL INDUSTRIES &
DIAGNOSTIC REAGENTS (RAMEDA)
Location : 2nd
Industrial Zone, Plot No.5, Street No. 20
Area : Giza
Town : 6th
of October City
Country : Egypt
Telephone : (20-2) 38331848
/ 38331849 / 38331766 / 38331773 / 38331887
Facsimile : (20-2) 38335606
/ 38331766 / 38331849
Mobile : (20-100) 1015501
Email : adibkh2000@yahoo.com
Subject operates
from a suite of offices and a factory covering an area of 33,000 square metres
that are owned and located in the Industrial Area of the 6th of October City.
Branch Office
(s)
Location Description
·
40 A Mohamed Mazhar Street Rented
office premises
Zamalek
Cairo
Tel: (20-2)
27382190 / 27382191
Fax: (20-2) 27355534
·
8
Gezert El Arab Street, 23rd Floor Rented office premises
Mohandessin, Giza
Cairo
Tel: (20-2) 37613048 / 37613058
Fax: (20-2) 37613018
Name Position
·
Ayman Mamdouh Abbas Chairman
·
Amr Abdallah Moursy Managing
Director
·
Shamel
Fahim Chief
Executive Officer
·
Dr Amer Adib Morsi General
Manager
·
Dr Adeeb Khalil Finance
Manager
·
Tarek Gharib Accounts
Manager
·
Dr Mohamed Moustafa Baraai Factory
Manager
·
Hefny Ahmed Administration
Manager
·
Ahmed Abdul Aal Human
Resources Manager
Date of Establishment : 1986
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 84008, 6th
of October City
Tax
Card No. : 100-330-096
Issued Capital : ŁE 200,000,000
Paid up Capital : ŁE 200,000,000
·
Raya Holding for Technology &
Communication
Cairo
·
Cravel Limited
United
Kingdom
·
Sayed
Shamel Fahim Abu El Fadl
Activities: Engaged in the
manufacture of pharmaceuticals and diagnostic chemicals.
The following is a list of licensing companies:
1.
Alcon International (Belgium)
2. Axcan Pharma (Canada)
3. Laboratoire du Docteur Bouchara (France)
4. Krka Novomeisto (Slovenia)
A. Sterile areas for the production of:
1. Eye Drops: (12.000.000 unit annual capacity) where the products of the
leading pharmaceutical company (Alcon) are manufactured according to the latest
technology in this field.
2. Injectable Cephalosporins:
(12.000.000 unit annual capacity)
Where our range of injectables is produced by the most sophisticated technology
in this field.
B. Production Lines for:
•
Solid Forms: (Tablets, Capsules, Powders).
• Liquid Forms: (Syrup & Suspensions).
• Dermatologicals: (Ointment, Cream, Gel).
• Diagnostics.
Import
Countries: United States of
America, Japan and India.
Export
Countries: Yemen, Iraq, Libya and Somalia.
Operating Trend: Steady
Subject has a
workforce of approximately 650 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (ŁE)
Year
Ending 31/12/13: Year
Ending 31/12/14:
Total Sales ŁE 97,250,000 ŁE 100,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
·
Arab
Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 33029069 / 33029070
Fax: (20-2) 33029068
Regular
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 company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
|
|
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.