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Report No. : |
320867 |
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Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
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Name : |
EGYPTIAN CO FOR CHEMICALS & PHARMACEUTICALS SAE (ADWIA) |
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Registered Office : |
Adwia Administration Building, 1st Industrial Zone, Al
Obour City, PO Box 59, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1984 |
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Com. Reg. No.: |
50195 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the manufacture of human and veterinary pharmaceuticals,
animal feed concentrates, pesticides and agriculture pesticides. |
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No. of Employees : |
300 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
Company Name :
EGYPTIAN CO FOR CHEMICALS & PHARMACEUTICALS SAE
(ADWIA)
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1984
Commercial Registration Number :
50195
Authorised Capital :
£E 1,000,000,000
Issued Capital :
£E 350,000,000
Paid up Capital :
£E 350,000,000
Total Workforce :
300
Activities :
Manufacturers of human and veterinary pharmaceuticals, animal feed
concentrates, pesticides and agriculture
pesticides.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Emad Soltan, Accounts Manager
EGYPTIAN CO FOR CHEMICALS & PHARMACEUTICALS SAE (ADWIA)
Registered &
Physical Address
Building : ADWIA
Administration Building
Area : 1st
Industrial Zone, Al Obour City
PO Box : 59
Town : Cairo
Country : Egypt
Telephone : (20-2) 26597500
/ 44812444
Facsimile : (20-2)
26597520
Mobile : (20-100)
1679064
Email : adwia@adwia.com
/ adwia_exp@menanet.net
/ export@adwia.com
/ emad.soltan@adwia.com
Premises
Subject operates from a large suite of offices and a warehouse that are
owned and located in the Industrial Area of Cairo.
Branch Office (s)
Location Description
1st Industrial Zone A2, Area 211 Owned factory
premises
Khoufo Street
Sharkeya
Tenth of Ramadan City
Tel: (20-15) 413104/5/6/7/8 / 362476 / 362475
Fax: (20-15) 413105/7 / 363635
30 Mohamed Said El Halawani Street Sales
Office
Heliopolis
Cairo
Tel: (20-2) 2667596 / 2667476 / 2667469
Fax: (20-2) 2667596 / 2673696
El Nile Building Sales
Office
El Gueish Street
Al Mansoura
Tel: (20-50) 314340
Gamal Abdel Nasser Street Sales
Office
Al Fayoum
Tel: (20-84) 352794
Abdel Salam El Shazly Street Sales
Office
Damanhour
Tel: (20-45) 353069
Sour El Estad El Riyady Sales
Office
Kafr El Sheikh
Tel: (20-47) 236016
61 El Gueish Street Sales
Office
Tanta
Tel: (20-40) 314839
Name Position
Hossam El Din Mohamed Taher Managing Director
Sameh Mohamed Taher Director
Ashraf Mohamed Taher Director
Hisham Mohamed Taher Director
Emad Soltan Accounts
Manager
Rabih Kamal Finance
Manager
Dr Mohamed Sultan Sales
Manager – Animal Health
Dr Yusri Abdallah Sales
Manager – Pharmaceuticals
Dr Khalid El Fouli Sales
Manager – Pesticides
Dr Ahmed Samir Factory
Manager
Dr Amer El Jundy Export
Manager
Waheed Abu Dahab Business
Development Manager
Date of Establishment : 1984
Legal Form : Egyptian Joint
Stock Company
Commercial Reg. No. : 50195
Authorised Capital : £E 1,000,000,000
Issued Capital : £E 350,000,000
Paid up Capital : £E 350,000,000
Name of
Shareholder (s) Percentage
Hossam El Din Mohamed Taher 80%
Sameh Mohamed Taher ]
]
Ashraf Mohamed Taher ]
] 20%
Hisham Mohamed Taher ]
]
Other private shareholders ]
Activities: Engaged in the manufacture of human and veterinary pharmaceuticals,
animal feed concentrates, pesticides and agriculture pesticides.
Subject is ISO 14001 and 9001 accredited.
Import Countries: Germany and India
Export Countries: Subject exports throughout the Middle East,
Africa, and Asia, as well as Albania and Malta
Brand Names: ADWIA
Operating Trend: Steady
Subject has a workforce of approximately 300 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
275,029,209 £E 258,849,584
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Emad Soltan, Accounts Manager
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
Banque du Caire SAE
19 Adly Street
Cairo
Tel: (20-2) 33926915
Fax: (20-2) 33951713
No complaints regarding subject’s payments have been reported.
Egyptian Co for Chemicals & Pharmaceuticals (Adwia) was established in
1984 and has gained a good reputation for the quality of its products. The
company specialises in the manufacture of human and veterinary pharmaceuticals,
animal feed concentrates, pesticides and agriculture pesticides.
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.63.88 |
|
|
1 |
Rs.97.21 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.