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Report No. : |
321770 |
|
Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
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Name : |
PHARCO B INTERNATIONAL |
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Registered Office : |
496 El Horreya Road, Boulkley, Ramleh, PO Box 12, Sidi Gaber,
Alexandria |
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Country : |
Egypt |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
141186 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the production of pharmaceuticals, cosmetic and veterinary
products. |
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No. of Employees : |
250 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
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 :
PHARCO B INTERNATIONAL
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
2004
Commercial Registration Number :
141186
Issued Capital :
£E 400,000,000
Paid up Capital :
£E 400,000,000
Total Workforce : 250
Activities :
Production of pharmaceuticals, cosmetic and veterinary products.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Dr Wafaa Khalid, Plant Manager
PHARCO B INTERNATIONAL
Registered &
Physical Address
Street : 496 El
Horreya Road
Area : Boulkley,
Ramleh
PO Box : 12, Sidi Gaber
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5823745
/ 5839670
Facsimile : (20-3) 5830958
Mobile : (20-100) 1682024 / 1628026 / (20-122) 3911929 / (20-127)
8611131
Email : info@pharco.com.eg
/ pbi@pharco-b.com / wafaa.khaled2012@yahoo.com
Please note that subject’s previous address was, 61 Ismail Serry Street, Smouha, Alexandria.
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Alexandria.
Branch Office (s)
Location Description
New Borg El Arab City, Third Industrial Zone,
Plot No. 12/13 Factory
premises
Alexandria
Tel: (20-3) 4592158 / 4592159 / 4592168 /
4598810 / 4598820
Fax: (20-3) 4592161 / 4591775 / 4700199
Name Position
Dr Hassan Abbass Helmy Managing
Director
Dr Shereen Hassan Abbass Helmy Director
Dr Aly Abd El Monem General
Manager
Dr Wafaa Khalid Plant
Manager
Dr Hussein Awad Aly Production
Manager
Ahmed Alshahawy Engineering
Manager
Yahy Said Finance
Manager
Ismail Ahmed Administration
Manager
Amr H Mohamed Human
Resources Manager
Dr Ali Mahmoud Export
Manager
Date of Establishment : 2004
Legal Form : Egyptian Joint
Stock Company
Commercial Reg.
No. : 141186
Issued Capital : £E 400,000,000
Paid up Capital : £E 400,000,000
Name of Shareholder (s)
Pharco Pharmaceuticals
496 El Horreya Road
Boulkley, Ramleh
PO Box: 12, Sidi Gaber
Alexandria
Tel: (20-3) 5823745 / 5821999 / 5839670 / 5863745
Fax: (20-3) 5830958
Dr Hassan Abbass Helmy
Dr Shereen Hassan Abbass Helmy
Ameriya Pharmaceuticals Industry
Cairo
European Egyptian Pharmaceuticals Industries
Cairo
Activities: Engaged in the production of pharmaceuticals, cosmetic and veterinary
products.
Subject holds 34 registered products and about 15 products under
registration.
Import Countries: United Kingdom, Germany, Switzerland and India
International
Suppliers:
BASF Germany
GSM Switzerland
Subject has a workforce of approximately 250 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.
Faisal Islamic Bank of Egypt
7 Victor Pasilly Street
El Azareta
Alexandria
Tel: (20-3) 4911653
Commercial International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel: (20-3) 4824643 / 4834255
Fax: (20-3) 4832240
Barclays Bank
12 Midan El Sheikh Youssef Street
Garden City
PO Box: 110, Maglis El Shaab
Cairo
Tel: (20-2) 33542195 / 33549415 / 33549422
Fax: (20-2) 33552746
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.64.20 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.