MIRA INFORM REPORT

 

 

Report No. :

303492

Report Date :

22.01.2015

 

IDENTIFICATION DETAILS

 

Name :

AL DEBEIKY FOR PHARMACEUTICAL INDUSTRIES

 

 

Registered Office :

23rd Sakr Koriesk Building, Sheraton Area, Heliopolis, Nasr City, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

05.09.2001

 

 

Com. Reg. No.:

7554

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Engaged in the manufacture of pharmaceuticals for human and veterinary use.

 

 

No. of Employee :

240

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – 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

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 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

 

SUMMARY

 

Company Name                                    : AL DEBEIKY FOR PHARMACEUTICAL INDUSTRIES

Also Known As                                     : AL DEBEIKY PHARMA

Country of Origin                                   : Egypt

Legal Form                                           : Limited Liability Partnership

Start Date                                             : 1998

Registration Date                                  : 5th September 2001

Commercial Registration Number           : 7554, Cairo

Tax Card Number                                  : 210-140-348

Issued Capital                                       : £E 150,000,000

Paid up Capital                                     : £E 150,000,000

Total Workforce                                     : 240

Activities                                               : Manufacturers of pharmaceuticals for human and veterinary use.

Financial Condition                                : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

 

COMPANY NAME

 

AL DEBEIKY FOR PHARMACEUTICAL INDUSTRIES

 

 

ALSO KNOWN AS

 

AL DEBEIKY PHARMA

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : 23rd Sakr Koriesk Building

Street               : Sheraton Area

Area                 : Heliopolis, Nasr City

Town                : Cairo

Country             : Egypt

Telephone         : (20-2) 22661393 / 22684840 / 22681119

Facsimile          : (20-2) 22661370

Email                : sales@dbk-eg.com

 

Premises

 

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

 

Zone 11, Block 12014, Industrial Zone                                        Factory premises

Cairo / Ismailia Road

El Obour City

Cairo

Tel: (20-2) 46651407 / 46651408 / 46651410 / 46651411

Fax: (20-2) 46651409

 

58 Joseph Tito Street                                                                Office premises

El Nozha El Gedida

Cairo

Tel: (20-2) 26220884

Fax: (20-2) 26246619

 

 

KEY PRINCIPALS

 

Name                                                                                                   Position

 

Dr Hamdy Ahmed Mohamed Zeyad El Debeiky                                       Managing Partner

 

Dr Sana Hamdy Ahmed Mohamed Zeyad El Debeiky                              Partner

 

Duwaa Hamdy Ahmed Mohamed Zeyad El Debeiky                                Partner

 

Noha Hamdy Ahmed Mohamed Zeyad El Debeiky                                  Partner

 

Ayaa Hamdy Ahmed Mohamed Zeyad El Debeiky                                   Partner

 

Mirvat Lotfy                                                                                          Partner

 

Said Keskhah                                                                                        General Manager

 

Dr Wael El Said                                                                                     Medical Manager

 

Dr Tarek Ibrahim                                                                                    Administration Manager

 

Dr Ihab Tawfiq                                                                                       Commercial Manager

 

Dr Alaa Ajlaan                                                                                       Scientific Manager

 

Inaas Hamdy                                                                                         Administrative Secretary

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1998, however it was registered on 5th September 2001.

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 7554, Cairo

 

Tax Card No.    : 210-140-348

 

Issued Capital              : £E 150,000,000

 

Paid up Capital            : £E 150,000,000

 

Name of Shareholder (s)

 

Dr Hamdy Ahmed Mohamed Zeyad El Debeiky

 

Dr Sana Hamdy Ahmed Mohamed Zeyad El Debeiky

 

Duwaa Hamdy Ahmed Mohamed Zeyad El Debeiky

 

Noha Hamdy Ahmed Mohamed Zeyad El Debeiky

 

Ayaa Hamdy Ahmed Mohamed Zeyad El Debeiky

 

Mirvat Lotfy

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceuticals for human and veterinary use.

 

Import Countries: India and Europe

 

Operating Trend: Steady

 

Subject has a workforce of approximately 240 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 153,200,000                         £E 155,000,000

 

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

 

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

 

 

BANKERS

 

Export Development Bank of Egypt

108 Mohi El Din Abu El Ezz Street

Mohandessin

Cairo 11111

Tel: (20-2) 33619005 / 33385877

Fax: (20-2) 33385940 / 33385938

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.61.61

UK Pound

1

Rs.93.49

Euro

1

Rs.71.38

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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