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Report No. : |
320305 |
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Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
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Name : |
HAIDYLENA FOR ADVANCED MEDICAL INDUSTRIES SAE |
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Registered Office : |
26 Makram Ebeid Street, 6th District, Nasr City, Cairo 11371 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment : |
1997 |
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Com. Reg. No.: |
307162 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject is engaged in the manufacture and export of medical equipment and requisites, including dialysers, blood lines, fistula needles, concentrate solutions, iv solutions, bicarbonate cartridges, bicarbonate bags, disinfection cartridges, infusion sets, transfusion sets and dialysis machines. |
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No. of Employees : |
1,500 |
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 : |
Good |
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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
|
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 |
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.
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Source
: CIA |
Company Name : HAIDYLENA FOR ADVANCED MEDICAL INDUSTRIES SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1997
Commercial Registration Number : 307162
Industrial Registration Number : 28108
Tax Card Number : 205-032-362
Issued Capital : £E 75,000,000
Paid up Capital : £E 75,000,000
Total Workforce : 1,500
Activities : Manufacture and export of medical equipment and requisites.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
HAIDYLENA FOR ADVANCED MEDICAL INDUSTRIES
SAE
Street : 26
Makram Ebeid Street
Area : 6th
District, Nasr City
Town : Cairo 11371
Country : Egypt
Telephone : (20-2) 22750513
/ 22706150 / 22706149 / 22706151
Facsimile : (20-2) 22750552
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
·
2nd Industrial Zone, Plot 87/72 Owned
office premises
6th
of October City
Tel: (20-2)
38320546 / 38320547 / 38320548 / 38330220
Fax: (20-2)
38332555 / 38320549
Name Position
·
Ibrahim Fawzy Chairman
·
Ashraf Sorour Managing
Director
·
Mohamed Ismail Director
·
Amany
El Assra Director
·
Fatheya Abd El Rehim General
Manager
·
Hossam Hanafy Ibrahim Finance
Manager
·
Samy Ali Hussien Sales
Manager
·
Tarek Abd El Moneim Human
Resources Manager
·
Waleed
Mohey IT
Manager
·
El
Sayed Hussein Export
Manager
Date of Establishment : 1997
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 307162
Industrial Reg. No. : 28108
Tax Card No. : 205-032-362
Issued Capital : £E 75,000,000
Paid up Capital : £E
75,000,000
·
Ahmed Hany Mahmoud Mohamed Sorour 34.18%
·
Grand View Investment Inc 30.00%
·
Haidy Hany Mahmoud Moahmed Sorour 15.84%
·
Lina Hany Mahmoud Moahmed Sorour 15.84%
·
Amany El Assra 3.14%
·
Dr Hany Mahmoud Mohamed Sorour 1.00%
Activities: Engaged
in the manufacture and export of medical equipment
and requisites, including dialysers, blood lines, fistula needles,
concentrate solutions, iv solutions, bicarbonate cartridges, bicarbonate
bags, disinfection cartridges,
infusion sets, transfusion sets and dialysis machines.
Import
Countries: Germany, Italy,
Turkey, Thailand and the United States of America.
Export
Countries: Morocco, Tunisia, Sudan, Yemen, United Arab Emirates, Mali,
Vietnam, Malaysia, Turkey,
Slovenia, Romania, France, Netherlands, Malta, and Spain.
Operating Trend: Steady
Subject has a
workforce of approximately 1,500 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 329,046,337 £E 331,165,904
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local 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
·
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
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 |
|
US Dollar |
1 |
Rs.63.52 |
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|
1 |
Rs.95.96 |
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Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
VNT |
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.