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Report No. : |
352847 |
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Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
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Name : |
COPAD EGYPT FOR
TRADE AND PHARMACEUTICAL INDUSTRIES |
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Registered Office : |
Masaken Sheraton,
Plot 4, Square 1169, Heliopolis, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment : |
1991 |
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Com. Reg. No.: |
268677 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Import and
Distribution of Pharmaceutical Preparations. |
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No. of Employees : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limits : |
US$ 250,000 |
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Status : |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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 : COPAD
EGYPT FOR TRADE AND PHARMACEUTICAL INDUSTRIES
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 1991
Commercial
Registration Number : 268677
Tax Card Number : 332-326-543
Issued Capital : £E
29,800,000
Paid up Capital : £E
29,800,000
Total Workforce : 250
Activities :
Distributors of pharmaceutical preparations.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 250,000
Person Interviewed : Khaled Ali
Mohamed, General Manager
COPAD EGYPT FOR
TRADE AND PHARMACEUTICAL INDUSTRIES
Location : Masaken Sheraton, Plot 4, Square 1169,
Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22689214 / 22689212 / 22689213
/ 22689215 / 22689216 / 22689217
Facsimile : (20-2) 22689210
Mobile : (20-122) 4544592
Email : eng_khaledali@hotmail.com / info@copadpharma.com / khaled.ali@copadpharma.com
Please note that
the above address is correct. “4 Quare No 1169 Bis, Sheraton Helipolis Area” is
incorrect.
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Industrial
Zone, Plot No. 12011 Factory
premises
Cairo / Ismailia Road
El Obour
Cairo
Tel: (20-2) 46652445 / 44891448
Fax: (20-2) 46652449
·
11 Emad
El Din Street Office
premises El Azbakia
Cairo
Tel: (20-2) 25897719 / 25892030
Fax: (20-2) 25890250
Name Position
·
Mahmoud
Hosny Abd El Kader Chairman
·
Ahmed
Mahmoud Hosny Abd El Kader Vice
Chairman
·
Emad
Abd El Moniem Finance
Manager
·
Khaled
Ali Mohamed General
Manager
Date of Establishment : 1991
Legal Form :
Egyptian Joint Stock Company
Commercial Reg. No. : 268677
Tax Card No. : 332-326-543
Issued Capital : £E 29,800,000
Paid up Capital : £E 29,800,000
·
Ahmed
Mahmoud Hosny Abd El Kader 66%
·
Mahmoud
Hosny Abd El Kader 12%
·
Wedad
Mahmoud Hosny 12%
·
Mahmoud
Hosny 10%
Activities: Engaged in the import and distribution of
pharmaceutical preparations.
Import
Countries: France, China,
India, Netherlands and Germany.
Agencies Held:
·
Isigny
Saint-Mere France
·
Laboratoires
Biove France
·
Newnordic Denmark
·
Pura
Life Medical United
States of America
·
Omega Canada
·
Metromed United
Arab Emirates
·
Oman
Euro Food Industries Oman
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 41,200,000 £E 43,450,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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.
Recommended
credit limit: US$ 250,000
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.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
|
EGP |
1 |
Rs.8.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.