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Report No. : |
352198 |
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Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
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Name : |
HIKMA PHARMA SAE |
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Registered Office : |
12 El Esraa Street, Mohandessin, Giza, 1913, Cairo |
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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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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject is engaged in the manufacture and export of pharmaceuticals,
including vitamins, antacids, anaesthetics, disinfectants and pharmaceutical
preparations for urology, dermatology, gynaecology, obstetrics, metabolism,
nutrition, gastric ulcers, bile and anti-diarrhoea. |
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No. of Employee : |
700 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 3,500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. Egypt's current Constitution passed in a referendum that took place in January 2014.
|
Source
: CIA |
Company Name : HIKMA PHARMA SAE
Also Known As : HIKMA PHARMACEUTICAL
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1985
Commercial Registration Number : 87081, Cairo
Tax Card Number : 101-329-100
Journal Issue Number : 1220
Issued Capital : £E 20,000,000
Paid up Capital : £E 20,000,000
Total Workforce : 700
Activities : Manufacture and export of pharmaceuticals.
Financial Condition : Good
Payments : Regular
Operating Trend : Steady
Recommended Credit Limit : US$ 3,500,000
Person Interviewed : Mohamed Mouwafi, Accounts Manager
HIKMA PHARMA SAE
ALSO KNOWN AS: HIKMA
PHARMACEUTICAL
Street : 12 El Esraa
Street
Area :
Mohandessin, Giza
PO Box : 1913
Town : Cairo
Country : Egypt
Telephone : (20-2) 38292693
/ 33448861 / 33448864
Facsimile : (20-2)
33050739
Email : mmouwafy@hikmaegyp.com
/ mobaid@hikmaegypt.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of the Cairo.
Branch Office (s)
Location Description
· 2nd
Industrial Zone, Plot No.1 Factory
premises
6th of
October City 12541
Tel: (20-2) 38331643
/ 38202643
Fax: (20-2) 38331791
· 2 El
Messaha Square Rented
office premises
Dokki,
Giza
Cairo
Tel: (20-2) 37490140 / 37490141 /
37490142 / 37490143
Fax: (20-2) 37499253 / 37490144
Name Position
· Mazen Darwazah Chairman
· Dr
Hassan Shafik Managing
Director
· Dr
Mamoun Airida Sales
Manager
· Mohamed
Ebeid Mewafy Finance
Manager
· Mona
Sherif Ahmed Factory
Manager
· Mohamed Abd El
Daim Human
Resources Manager
· Mohamed Mouwafi Accounts
Manager
Date of
Establishment : 1985
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 87081, Cairo
Tax Card No. :
101-329-100
Journal Issue No. : 1220
Authorised Capital : £E 100,000,000
Issued Capital : £E 20,000,000
Paid up Capital : £E 20,000,000
· Hikma Pharmaceuticals 99.98%
United Kingdom
· Hikma Holding 0.01%
United Kingdom
· Hikma Investment 0.01%
United Kingdom
Activities: Engaged in the manufacture and export of pharmaceuticals, including
vitamins, antacids, anaesthetics, disinfectants and pharmaceutical preparations
for urology, dermatology, gynaecology, obstetrics, metabolism, nutrition,
gastric ulcers, bile and anti-diarrhoea.
Import Countries: United Kingdom, Germany, Italy, France, Japan,
Jordan, Saudi Arabia and India.
Export Countries: Yemen, Jordan,
Algeria and Lebanon.
Operating Trend: Steady
Subject has a workforce of approximately 700 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
415,000,000 £E
427,500,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Mohamed Mouwafi, Accounts Manager
·
National Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2)
33924175
Fax:
(20-2) 33924143
· Export Development
Bank of Egypt
4th
Industrial Region, Plot 3/1
Giza
6th of
October City
Tel: (20-2)
38330577 / 38330599
Fax: (20-2)
38330570 / 38330551
Regular
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the company is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
|
EGP |
1 |
Rs.8.52 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TRU |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.