|
Report No. : |
324145 |
|
Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL NAPI
PHARMACEUTICALS SAE (GNP) |
|
|
|
|
Registered Office : |
2nd
Industrial Zone, Street No. 18, Plot No. 40, Sixth of October City |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2013 (Estimated) |
|
|
|
|
Year of Establishments : |
1994 |
|
|
|
|
Com. Reg. No.: |
2048 |
|
|
|
|
Legal Form : |
Egyptian Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in the
manufacturing pharmaceuticals specialising in therapeutic classes such as
cardio – vascular, anti inflammatory, respiratory tract, anti infective
gastro intestinal, and dermatological preparations, as well as food
supplements and natural products. |
|
|
|
|
No of Employees : |
430 (Approximately) |
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 : |
Good |
|
Payment Behaviour : |
No Complaints |
|
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 aggressively pursued economic reforms to
attract foreign investment and facilitate growth. Poor living conditions
combined with limited job opportunities for the average Egyptian contribute to
public discontent. After unrest erupted in January 2011, the Egyptian
Government backtracked on economic reforms, drastically increasing social
spending to address public dissatisfaction, but political uncertainty at the
same time caused economic growth to slow significantly, reducing the
government's revenues. Tourism, manufacturing, and construction were among the
hardest hit sectors of the Egyptian economy, pushing up unemployment levels,
and economic growth remains slow amid political uncertainty, government
transitions, unrest, and cycles of violence. Cairo since 2011 has drawn down
foreign exchange reserves and depended on foreign assistance, particularly from
Gulf countries, to finance imports and energy products and prevent further
devaluation of the Egyptian pound, fearing higher inflation from a weaker currency.
|
Source
: CIA |
Company Name : GLOBAL NAPI PHARMACEUTICALS SAE (GNP)
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1994
Commercial Registration Number : 2048
Issued Capital : £E 38,000,000
Paid up Capital : £E 38,000,000
Total Workforce : 430
Activities : Manufacture of pharmaceuticals
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GLOBAL NAPI PHARMACEUTICALS SAE (GNP)
Registered &
Physical Address
Location : 2nd Industrial Zone,
Street No. 18, Plot No. 40
Town : Sixth of October City
Country : Egypt
Telephone : (20-2) 38333350
/ 38333354 / 38333352 / 38333353
Facsimile : (20-2) 38333351
Mobile : (20-12) 2125392 / 3256693
Email : mail@globalnapi.com
Premises
Subject operates
from a suite of offices and a factory covering an area of 20,000 square metres
that are owned and located in the Industrial Area of the Sixth of October City.
Branch Office (s)
Location Description
·
297
Ramsis Street, 2nd Floor Rented
office premises
Cairo
Tel: (20-2) 26748275 / 26748276 / 26748277 / 26748278
Fax: (20-2) 26748279
·
207
Ramsis Street, 2nd Floor Rented
office premises
Daher
Cairo
Tel: (20-2) 25888001 /
25888002 / 25888003 / 25888004
Fax: (20-2) 25888003
Name Position
·
Dr
Makram Sayed Mehany Fahmy Chairman
·
Shawky
Ghattas Director
·
Maurice
Ghattas Director
·
William
Sayed Mehana Director
·
Dr
Mohamed Hussein Abd El Wahab Director
·
Dr Gamal El Leithy Director
·
Dr Mahmoud Ghorab Director
·
Peter Makram Sayed Mehany Fahmy Director
·
Ibrahim Maurice Ghattas Director
·
Maher Naguib Director
·
Emad Wasfy General
Manager
·
Dr Wedad Ishak Factory
Manager
·
Mona
Barsoum Human
Resources Manager
·
Sameh
Samy Sales
Manager
·
Adel
Sultan Marketing
Manager
·
Medhat
Sadek Finance
Manager
·
George
Roushdy Purchasing
Manager
·
Faisal Fouad Business
Development Manager
·
Sameh Samy Office
Manager
Date of Establishment : 1994
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 2048
Issued Capital : £E 38,000,000
Paid up Capital : £E 38,000,000
Name of Shareholder
(s) Percentage
·
Dr
Makram Sayed Mehany Fahmy 33%
·
Members
of Karim
Roshdy’s Family 33%
·
Shawky
Ghattas 17%
·
Maurice
Ghattas 17%
·
Ramco
Co
·
Makram Mehane Pharmaceuticals (MMP)
·
Monica Makram Mehane (3MP)
Activities: Engaged in the manufacture of
pharmaceuticals specialising in therapeutic classes such as cardio –
vascular, anti inflammatory, respiratory tract, anti infective gastro
intestinal, and dermatological preparations, as well as food supplements and
natural products.
Subject produces pharmaceuticals under license from the following
companies: Merck & Co, White Hall, Roche, Aventis, Sanofi Synthelabo,
Elerte, Sisu, Rogier, Refarmed, MIAT, Valpharma, Nova Pharma, Prodes, Lek,
Help, Unipharma and Serolam, Lemery, Pierre Faber, Pan Laboratories, PH&T,
Covex.
Subject is ISO 9001 and ISO 14001
accredited.
Import
Countries: France, Netherlands,
Spain, Sweden, Italy and India
Export
Countries: Yemen, Sudan, Kenya,
Uganda, Tanzania and Iraq
Operating Trend: Steady
Subject has a
workforce of approximately 430 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue £E 383,000,000 £E 388,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
National
Societe Generale Bank SAE
Evergreen Building
10 Talaat Harb Street
Cairo
Tel: (20-2) 25749376
Fax: (20-2) 25776249 / 25782838
·
American
Express Bank (Amex)
PO Box: 1824
Cairo
Tel: (20-2) 33608228
Fax: (20-2) 33608227
·
Arab
African International Bank
Main Branch
Sixth of October City
A/C No. 508254
·
Misr
International Bank (MIBANK)
14 Alfy Street
PO Box: 631
Cairo
Tel: (20-2) 25931002
Fax: (20-2) 25912306
No complaints regarding
subject’s payments have been reported.
Amount overdue 0
Payment terms 180
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.62 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.