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Report No. : |
302688 |
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Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
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Name : |
BADR PHARMA FOR PHARMACEUTICALS INDUSTRIES SAE |
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Registered Office : |
Flat No. 1, 2nd Floor, 42 Osman Ibn Affan Street, Ismailia
Square, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
31.08.2005 |
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Com. Reg. No.: |
16134 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the manufacture and distribution of human and veterinary
pharmaceuticals and medicines. |
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No. of Employee : |
45 |
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 |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 aggressively pursued economic reforms to
attract foreign investment and facilitate growth. Poor living conditions
combined with limited job opportunities for the average Egyptian contribute to
public discontent. After unrest erupted in January 2011, the Egyptian
Government backtracked on economic reforms, drastically increasing social
spending to address public dissatisfaction, but political uncertainty at the
same time caused economic growth to slow significantly, reducing the
government's revenues. Tourism, manufacturing, and construction were among the
hardest hit sectors of the Egyptian economy, pushing up unemployment levels,
and economic growth remains slow amid political uncertainty, government
transitions, unrest, and cycles of violence. Cairo since 2011 has drawn down
foreign exchange reserves and depended on foreign assistance, particularly from
Gulf countries, to finance imports and energy products and prevent further
devaluation of the Egyptian pound, fearing higher inflation from a weaker
currency.
|
Source
: CIA |
Company Name :
BADR PHARMA FOR PHARMACEUTICALS INDUSTRIES SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
31st August 2005
Commercial Registration Number :
16134
Issued Capital :
£E 60,000,000
Paid up Capital :
£E 52,500,000
Total Workforce :
45
Activities :
Manufacture and distribution of human and veterinary pharmaceuticals
and
medicines
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
BADR PHARMA FOR PHARMACEUTICALS INDUSTRIES SAE
Registered &
Physical Address
Location : Flat No. 1, 2nd
Floor
Street : 42 Osman Ibn
Affan Street
Area : Ismailia
Square
Town : Cairo
Country : Egypt
Telephone : (20-2) 24170513
/ 23108255
Facsimile : (20-2)
22915470
Email : info@badrpharma.com
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
250 El Robiky Factory
premises
Plot No. 164-167
Industrial City
Badr City
Giza
Cairo
Name Position
Abdallah Dousoki Ibrahim Dousoki Chairman
Ahmed El Yamany Quality
Manager
Maher El Azzouny Plant
Manager
Hani Abdallah Production
Manager
Date of Establishment : 31st
August 2005
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 16134
Issued Capital : £E 60,000,000
Paid up Capital : £E 52,500,000
Name of
Shareholder (s)
Abdallah Dousoki Ibrahim Dousoki
Magdy Youssef Ahmed Mansour
Moustafa Youssef Ahmed Mansour
Mamdouh Youssef Ahmed Mansour
Ahmed Ali Ahmed El Fardan
Metwaly Zakria Hamad El Nomrosy
Maher Mohamed Abd El Satr El Ghrony
Mohamed Hosny Mohamed Ismail Hassan
Activities: Engaged in the manufacture and distribution of human and veterinary
pharmaceuticals and medicines.
Import Countries: Europe and the Far East.
Subject has a workforce of 45 employees.
Companies registered in Egypt are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside 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
National Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
No complaints regarding subject’s payments have been reported.
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.61.70 |
|
|
1 |
Rs.93.41 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
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.