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Report No. : |
327857 |
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Report Date : |
27.06.2015 |
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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Date of Incorporation : |
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 : |
Engaged in the 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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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 |
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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 :
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
Person Interviewed :
Khaled Ali Mohamed, General Manager
COPAD EGYPT FOR TRADE AND PHARMACEUTICAL INDUSTRIES
Registered &
Physical Address
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
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
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
Name of
Shareholder (s) Percentage
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.
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.63.60 |
|
|
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.