MIRA INFORM REPORT

 

 

Report No. :

344705

Report Date :

14.10.2015

 

IDENTIFICATION DETAILS

 

Name :

AMRIYA PHARMACEUTICAL INDUSTRIES SAE

 

 

Registered Office :

3A El Moaskar El Romany Street, Rushdy, Ramleh, 111, Alexandria

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

1984

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Subject is engaged in the manufacture and export of pharmaceuticals and medical preparations with 109 preparations, for human use, as well as specialty food and veterinary products.

 

 

No. of Employees :

1680

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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)

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. Egypt's current Constitution passed in a referendum that took place in January 2014.

Source : CIA

SUMMARY

 

Company Name                                    : AMRIYA PHARMACEUTICAL INDUSTRIES SAE

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 1984

Commercial Registration Number           : 112775, Alexandria

Tax Card Number                                  : 100-133-738

Issued Capital                                       : £E 216,000,000

Paid up Capital                                     : £E 216,000,000

Total Workforce                                     : 1,680

Activities                                               : Manufacture and export of pharmaceuticals and medical preparations

Financial Condition                                : Good

Payments                                             : Regular

Operating Trend                                    : Steady

Person Interviewed                                : Ali Feteiha, Finance Manager

COMPANY NAME

 

AMRIYA PHARMACEUTICAL INDUSTRIES SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 3A El Moaskar El Romany Street

Area                 : Rushdy, Ramleh

 

PO Box            : 111

 

Town                : Alexandria

Country             : Egypt

 

Telephone         : (20-3) 5431799 / 5839950

Facsimile          : (20-3) 5431799 / 5830958

Email                : info@amriyapharm.com

 

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

 

·       Alexandria Cairo Desert Road, Km 25                                                Factory premises

Amreya, El Manshia

     Alexandria

     Tel: (20-3) 4701001 / 4701146 / 4701150 / 4701151 / 4761001

     Fax: (20-3) 4701003 / 4701153

 

·       15 El Nozha Street                                                                            Office premises

Nasr City

       Cairo

       Tel: (20-2) 24181821

 

·       3 Bahaa El Din Street                                                                        Office premises

Smouha

     Alexandria

     Tel: (20-3) 4206921

     Fax: (20-3) 4206920

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Hassan Abbass Helmy                                                                 Chairman

 

·       Dr Shereen Hassan Abbass Helmy                                                    Vice Chairman

 

·       Yashar Hassan Abbass                                                                     Director

 

·       Ahmed Amin Hassan                                                                        Director

 

·       Adel Salah Tawfik                                                                             Director

 

·       Said Ahmed Khalil                                                                            Director

 

·       Meawad Abdallah                                                                             Director

 

·       Tarek Mohamed Osman                                                                    Director

 

·       Abbass El Gheriany                                                                          Director

 

·       Ali Feteiha                                                                                        Finance Manager

 

·       Dr Yasser Fayed                                                                              Sales Manager

 

·       Dr Essam Al Ansari                                                                          Marketing Manager

 

·       Hesham Shaar                                                                                  IT Manager

 

·       Mohab Areby                                                                                   Human Resources Manager

 

·       Ibrahim Abd El Hamid Sharaf                                                            Import Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1984

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 112775, Alexandria

 

Tax Card No.                : 100-133-738

 

Authorised Capital       : £E 300,000,000

 

Issued Capital              : £E 216,000,000

 

Paid up Capital            : £E 216,000,000

 

Name of Shareholder (s)                                                     Percentage

 

·       Pharco Pharmaceuticals Group                                             95.0%

Borg El Arab

Alexandria

Tel: (20-3) 4480130 / 4480140

Fax: (20-3) 4480730

 

·       Egyptian European Pharmaceuticals Co (EEPI)                        1.2%

Cairo

 

·       Local businessmen and private investors                                 3.8%

 

 

AFFILIATED COMPANIES

 

·       European Pharmaceutical Industries

     Desert Road, Km 25

     Elmanshia, Amriya

     Alexandria

     Tel: (20-3) 4701001

     Fax: (20-3) 4701003

     Email: sherien@pharco.com.eg

 

·       Safe Pharma SAE

2nd Industrial Zone, Plot 2, Block 31, Area No. 3, New Borg El Arab

PO Box: 49, Sidi Gaber

Alexandria 21311

Tel: (20-3) 4592158 / 4592038 / 4592159 / 4592168

Fax: (20-3) 4592161

 

·       Islamic Pharmaceuticals Chemicals & Medical Supplies Co SAE

496 El Horreya Road

Boulkley, Ramleh

PO Box: 12, Sidi Gaber

Alexandria

Tel: (20-3) 5823745 / 5821999 / 5839670 / 5863745

Fax: (20-3) 5830958

 

·       Pharco B International

 

·       Techno Pharma Egypt

 

·       Pharco Impex 93 Srl

 

·       Abou Kir Trading

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and export of pharmaceuticals and medical preparations with 109

     preparations, for human use, as well as specialty food and veterinary products.

 

     Subject’s range is produced under license of Synthelabo (France) and Weimer (Germany).

 

     Subject is ISO 14001 and ISO 9001 accredited.

 

Import Countries: Germany, France, Japan, China and India

 

Export Countries: Saudi Arabia, Yemen, Libya, Sudan and Togo

 

Operating Trend: Steady

 

Subject has a workforce of approximately 1,680 employees.

 

 

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 310,000,000                         £E 315,500,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Citibank

95, 26th July Street

Azarita

Alexandria

Tel: (20-3) 4834363 / 4840342

Fax: (20-3) 4884363

 

·       Misr International Bank (MIBANK)

33, Safia Zaghloul Street

Raml Station

Alexandria

Tel: (20-3) 4828174 / 4828213

       Fax: (20-3) 4838216

 

·       Commercial International Bank (CIB)

61 Sultan Hussein Street

Alexandria

Tel: (20-3) 4824643 / 4834255

Fax: (20-3) 4832240

 

·       National Societe Generale Bank

240 El Corniche Street

Roushdy, Ramleh

Alexandria

Tel: (20-3) 5452352

Fax: (20-3) 5455715

 

·       Barclays Bank Egypt

11 Sherket Misr Street

Azarita

Alexandria

Tel: (20-3) 4831308

Fax: (20-3) 4861307

 

 

PAYMENT HISTORY

 

Regular

 

 

GENERAL COMMENTS

 

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.65.02

UK Pound

1

Rs.99.89

Euro

1

Rs.73.92

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

               

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.