MIRA INFORM REPORT

 

 

Report No. :

336633

Report Date :

25.08.2015

 

IDENTIFICATION DETAILS

 

Name :

AL ANDALOUS PHARMACEUTICAL INDUSTRIES

 

 

Registered Office :

El Zeny Tower, 6th Floor, 25 Misr Helwan Agricultural Road, Maadi, Cairo

 

 

Country :

Egypt

 

 

Year of Establishment :

2011

 

 

Com. Reg. No.:

14374

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Subject is engaged in the manufacture of pharmaceuticals and cosmetics. Subject's product range includes : Alimentry tract and metabolism , Blood and blood, forming organs, Cardiovascular System, Dermatologicals, Genito - Urinary system and sex hormones, Systemi hormonal preparations (excluding sex hormones), General Anti-infectives, Systemic, Antineoplastic and immunodulating agents, Musculo- skeletal system, Central Nervous System, Food supplements, Cosmetics.

 

 

No. of Employee :

70

 

 

 

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 – 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

 

SUMMARY

 

Company Name                                    : AL ANDALOUS PHARMACEUTICAL INDUSTRIES

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 2011

Commercial Registration Number           : 14374

Tax Card Number                                  : 613-541-685

Issued Capital                                       : £E 2,000,000

Paid up Capital                                     : £E 2,000,000

Total Workforce                         : 70

Activities                                               : Manufacturers of pharmaceuticals and cosmetics

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

AL ANDALOUS PHARMACEUTICAL INDUSTRIES

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : El Zeny Tower, 6th Floor

Street               : 25 Misr Helwan Agricultural Road

Area                 : Maadi

Town                : Cairo

Country : Egypt

 

Telephone         : (20-2) 23580826 / 23580832 / 23580752

Facsimile          : (20-2) 23580507

Email                : nhany@alandalous.org / info@alandalous.org

 

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

 

·       Section 6/7 - 6th Industrial Zone                                                        Factory premises covering 14,000

6th of October City                                                                            square metres

Tel: (20-2) 38290359 / 38290357 / 8 / 9

Fax: (20-2) 38290358 / 38290441

 

·       Alexandria                                                                                        Office premises

 

·       El Mansoura                                                                         Office premises           

 

·       Assiut                                                                                              Office premises           

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mohamed Ahmed Ibrahim                                                                 Managing Director

 

·       Safwat Abd El Moneim                                                                     Factory Manager

 

·       Hazem Mahmoud                                                                              Financial Manager

 

·       Mohamed Abbass                                                                            Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2011

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 14374

 

Tax Card No.                : 613-541-685

 

Issued Capital              : £E 2,000,000

 

Paid up Capital            : £E 2,000,000

 

Name of Shareholder (s)                                          Percentage

 

·       Mohamed Ahmed Ibrahim                                         97%

 

·       Menah Mohamed Ahmed Ibrahim                                 1%

 

·       Moustafa Mohamed Ahmed Ibrahim                1%

 

·       Noha Zaazouaa                                                          1%

 

 

AFFILIATED COMPANIES

 

·       Al Andalous Medical Company

El Zeny Tower, 6th Floor

25 Misr Helwan Agricultural Road

Maadi

Cairo

Tel: (20-2) 23580826 / 23580832 / 23580752

Fax: (20-2) 23580507

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceuticals and cosmetics. Subject's product range includes:

 

Alimentry tract and metabolism

Blood and blood forming organs

Cardiovascular System

Dermatologicals

Genito - Urinary system and sex hormones

Systemi hormonal preparations (excluding sex hormones)

General Anti-infectives , Systemic

Antineoplastic and immunodulating agents

Musculo- skeletal system

Central Nervous System

Food supplements

Cosmetics

 

Import Countries: Europe and the Far East

 

Subject has a workforce of 70 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 11,250,000                           £E 11,615,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

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

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject meets its payment obligations in a timely manner and the company is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.51

UK Pound

1

Rs.104.01

Euro

1

Rs.76.27

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ASH

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.