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Report No. : |
350851 |
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Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
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Name : |
HOCHSTER
PHARMACEUTICAL INDUSTRIES |
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Formerly Known As : |
TAIBA
PHARMACEUTICALS INDUSTRIES |
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Registered Office : |
El Robaky Road Bader Industrial City, Major Investors Area, Plot No. 250F, 144Z Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
05.07.2001 |
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Com. Reg. No.: |
7239, Cairo |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Subject is Engaged in
the manufacture of pharmaceuticals and drugs. |
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No. of Employee : |
200 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. Egypt's current Constitution passed in a referendum that took place in January 2014.
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Source
: CIA |
Company Name : HOCHSTER PHARMACEUTICAL INDUSTRIES
Previously Known As : TAIBA
PHARMACEUTICALS INDUSTRIES
Country of Origin : Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date : 5th
July 2001
Commercial
Registration Number : 7239, Cairo
Tax Card Number : 200-218-328
Authorised Capital : £E
200,000,000
Issued Capital : £E
20,000,000
Paid up Capital : £E
20,000,000
Total Workforce : 200
Activities :
Manufacturers of pharmaceuticals and drugs
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Mahmoud El Wasimi,
Financial Controller
HOCHSTER
PHARMACEUTICAL INDUSTRIES
TAIBA
PHARMACEUTICALS INDUSTRIES
Street : El Robaky Road
Area : Bader Industrial City, Major Investors
Area, Plot No. 250F, 144Z
Town : Cairo
Country : Egypt
Telephone : (20-2) 23108218 / 23108219 / 23108220
Facsimile : (20-2) 23108221
Mobile : (20-100) 00085922
Email : business@hochster.com.eg / customers@hochster.com.eg
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Cairo.
Name Position
·
Dr Ahmed
Mahmoud Maklad Chairman
·
Dr
Terez Tadroos Development
Manager
·
Dr
Hussam Saeed Executive
Manager
·
Dr
Mohamed Saeed Al Ghonaimi Marketing
Manager
·
Nabil
Abdul Hamid Accounts
Manager
·
Mahmoud
El Wasimi Financial
Controller
Date of Establishment : Subject's
operations date back to 1995, however it was registered on 5th July
2001
History : Subject began in 2001 under the name “Taiba
Pharmaceuticals Industries”. On 4th June
2006 it changed its name to “Hochster Pharmaceutical Industries”.
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 7239, Cairo
Tax
Card No. : 200-218-328
Authorised
Capital : £E 200,000,000
Issued Capital : £E 20,000,000
Paid up Capital : £E 20,000,000
·
Dr
Ahmed Mahmoud Maklad
·
Private
investors including family members of Dr Ahmed Mahmoud Maklad
Activities: Engaged in the manufacture of
pharmaceuticals and drugs. The company currently have 25 current
products and 88 pipeline
products in various stages of development and also cover most market segments
of conventional and natural
products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of approximately 200 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 77,600,000 £E 80,000,000
Local sources consider
subject’s financial condition to be Fair.
The above figures
were provided by Mr Mahmoud El Wasimi, Financial Controller
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel: (20-2) 33912711 / 33912106
Fax: (20-2) 33919779
No complaints
regarding subject’s payments have been reported.
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.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
ANK |
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 |
-- |
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.