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Report No. : |
323471.2 |
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Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ALLMED MIDDLE EAST |
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Registered Office : |
2nd Industrial Zone, Plot No. 72, Giza, 6th of October City 12541 |
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Country : |
Egypt |
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Date of Incorporation : |
1997 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture and design of medical products, including sterile blood lines, hollow fibre haemodialysis and haemo filters, fistula needles, infusion and transfusion sets, vascular access catheters, dry bicarbonate cartridges and bags, fluidic concentrated haemodialysis solutions, dialysis equipment cleaning cartridges and primary solutions for extracorporeal blood circuits. |
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No of Employees : |
200 |
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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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Egypt |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
Company Name : ALLMED MIDDLE EAST
Country of Origin : Egypt
Legal Form : Limited Liability Company
Registration Date : 1997
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 200
Activities : Manufacture and design of medical products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Haytham Haseeb, Finance Manager
ALLMED MIDDLE EAST
Location : 2nd Industrial Zone, Plot No. 72,
Giza
Town : 6th of October City
12541
Country : Egypt
Telephone : (20-2) 38202550 / 38202971
Facsimile : (20-2) 38202555 / 38202890
Mobile : (20-100) 1330300
Email : financial-manager@haidylena.com
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of 6th of October City.
Name Position
·
Ashraf
Sarour Managing
Director
·
Mohamed
Samy El Asra Export
Manager
·
Haytham
Haseeb Finance Manager
·
Said
Naser Administration
Executive
Date of Establishment : 1997
Legal Form :
Limited Liability Company
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
·
Allmed
Medical Care 100%
United Kingdom
Activities: Engaged in the manufacture and design of
medical products, including sterile blood lines, hollow fibre
haemodialysis and haemo filters, fistula needles, infusion and transfusion
sets, vascular access catheters, dry bicarbonate cartridges and bags, fluidic
concentrated haemodialysis solutions, dialysis equipment cleaning cartridges
and primary solutions for extracorporeal blood circuits.
Brand Names: LENA CATH and LENA CART
Subject has a
workforce of 200 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.
·
Arab
Bank Plc
PO Box: 68
Cairo
Tel: (20-2) 33029069 / 33029070
Fax: (20-2) 33029068
·
Al
Watany Bank of Egypt
PO Box: 750
Cairo
Tel: (20-2) 33379363
Fax: (20-2) 33772959
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
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs. 63.88 |
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|
1 |
Rs. 98.47 |
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Euro |
1 |
Rs. 72.14 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
DPT |
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.