MIRA INFORM REPORT

 

 

Report No. :

324143

Report Date :

26.05.2015

 

IDENTIFICATION DETAILS

 

Name :

MASH FOR PHARMACEUTICAL & COSMETICS INDUSTRIES CO SAE

 

 

Formerly Known As :

MASH PREMIERE

 

 

Registered Office :

Villa No. 131 Street No. 36 El Hay El Awal, 4th District, 5th Settlement Cairo

 

 

Country :

Egypt

 

 

Date of Incorporation :

1990

 

 

Com. Reg. No.:

2940, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Engaged in the manufacture of medical preparations, cosmetics, skin care products, shampoo and shaving creams.

 

 

No. of Employee :

400 [The correct employee figure for the subject is 400. This contains all their employee’s from their branch offices and factory.]

 

 

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

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 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

 

 

SUMMARY

 

Company Name                                    : MASH FOR PHARMACEUTICAL & COSMETICS INDUSTRIES CO

  SAE

Also Known As                                     : MASH PREMIERE

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Start Date                                             : 1990

Registration Date                                  : 2001

Commercial Registration Number           : 2940, Cairo

Tax Card Number                                  : 205-125-875

Issued Capital                                       : £E 4,500,000

Paid up Capital                                     : £E 4,500,000

Total Workforce                         : 400

Activities                                               : Manufacturers of medical preparations, cosmetics, skin care products,

                                                              shampoo and shaving creams.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Mohamed Ismail, Accounts Manager

 

 

 

 

COMPANY NAME

 

MASH FOR PHARMACEUTICAL & COSMETICS INDUSTRIES CO SAE

 

 

ALSO KNOWN AS

 

MASH PREMIERE

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Villa No. 131

Street               : Street No. 36

Area                 : El Hay El Awal, 4th District, 5th Settlement

 

Town                : Cairo

Country : Egypt

 

Telephone         : (20-2) 26171049

Facsimile          : (20-2) 26171049

Mobile              : (20-12) 00007971 / 00003010 / 00007070 / (20-100) 2143337 / 2143540 / 3596451

Email                : sale@mashpharma.com / egypt@mashpharma.com / egypt@mashpremiere.net

                          materials@mashpharma.com

 

Please note that subject’s previous address was, 9 Abou El Kassem El Mahdy Street, 7th District, Nasr City, Cairo. It moved to the above address in February 2015.

 

Premises

 

Subject operates from a large sized suite of offices that are rented and located in the Central Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       3rd Industrial Zone, Plot No. 54/2                                                        Factory premises

Cairo Ismailia Road

Badr City

Cairo

Tel: (20-2) 28641775 / 28606028

Fax: (20-2) 28641775

 

·       Alexandria                                                                                        Office premises

Tel: (20-3) 5430605

Fax: (20-3) 5439614

 

·       Mansoura                                                                                         Office premises

Tel: (20-50) 2286180

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mahmoud El Hendawy                                                                      Chairman

 

·       Dr Sayed El Hendawy                                                                       Managing Director

 

·       Ali El Hendawy                                                                                 Factory Manager

 

·       Mohamed Ismail                                                                               Accounts Manager

 

·       Dr Houda El Basyouni                                                                      Purchasing Manager

 

·       Shayma Samir                                                                                  Purchasing Officer

 

·       Hassan Mahmoud Ahmed                                                                 Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1990

 

History                         : Subject began in 1990 as a Limited Partnership, however it changed legal form and became an Egyptian Joint Stock Company in 2001.

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 2940, Cairo

 

Tax Card No.                : 205-125-875

 

Issued Capital              : £E 4,500,000

 

Paid up Capital            : £E 4,500,000

 

Name of Shareholder (s)                                          Percentage

 

·       Hany Shaalan                                                           25.0%

 

·       Ayman Badr                                                             25.0%

 

·       Mahmoud El Hendawy                                              22.5%

 

·       Dr Sayed El Hendawy                                               22.5%

 

·       Ali El Hendawy                                                           5.0%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of medical preparations, cosmetics, skin care products, shampoo and shaving

     creams.

 

Import Countries: China, France and India.

 

International Suppliers:

 

·       Analtec Labs                        India

·       SMS Pharmaceuticals           India

 

Brand Names: MASH

 

Export Countries: Kuwait, Sudan, Saudi Arabia and Yemen.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 400 employees. Subject’s employee figure can fluctuate up to 500 depending on production requirements.

 

 

FINANCIAL DATA

 

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 66,700,000                           £E 70,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Hassan Mahmoud Ahmed, Financial Controller

 

 

BANKERS

 

·       Banque Misr

151 Mohamed Farid Street

Cairo

Tel: (20-2) 33912711 / 33912106

Fax: (20-2) 33919779

 

·       ABC Bank

111 Al Gomhorya Street

Mansoura

Acc No. 1699670473020018

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Please note that local correspondents spoke to Mr Hassan Mahmoud Ahmed, Financial Controller who confirmed the name of the subject and that it was also known as “Mash Premiere”.

 

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.63.62

UK Pound

1

Rs.98.51

Euro

1

Rs.69.93

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.