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Report No. : |
339023 |
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Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AUG PHARMA SAE |
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Registered Office : |
80B Mossadak Street, 7th Floor, Dokki, Giza, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
26.01.2006 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject is engaged in the import and distribution of
pharmaceutical preparations. |
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No. of Employees : |
150 |
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) |
|
Egypt |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source
: CIA |
Company Name : AUG PHARMA SAE
Also Known As : ALLIED UNITED GROUP PHARMA
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 26th January 2006
Commercial Registration Number : 17386, Cairo
Tax Card Number : 218-123-140
Issued Capital : £E 225,000,000
Paid up Capital : £E 225,000,000
Total Workforce : 150
Activities : Distributors of pharmaceutical preparations
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Hatem Mohamed El Sheikh, Accounts Manager
AUG
PHARMA SAE
ALSO
KNOWN AS: ALLIED UNITED GROUP PHARMA
Street :
80B Mossadak Street, 7th Floor
Area :
Dokki, Giza
Town :
Cairo
Country :
Egypt
Telephone :
(20-2) 37619281 / 37619280 / 33389909
Facsimile :
(20-2) 33386354 / 33383303
Mobile :
(20-106) 55212750 / 55212756
Email : auginfo@augpharma.com
/ randaazzam@augpharma.com
Subject operates from a large suite of offices and a
warehouse that are rented and located in the Central Business Area of Cairo.
Branch Offices
Location Description
· 5 Messaha Square Office
premises
Cairo
Mob:
(20-100) 7777417
· 106
El-Nile Street, Agouza Office premises
Giza
Tel: (20-2) 37622711
Fax: (20-2) 37622712
· 45
Mousaddak Street Office premises
Dokki
Giza
Tel: (20-2) 33371396
Fax: (20-2) 33376781
· 6th
Industrial Zone Factory premises covering
6th
of October City 12,600
sq metres
Tel: (20-2) 38288199
Fax: (20-2) 38288190
Name Position
· Ashraf
Osman Mohamed Chairman
· Emad Mohamed Osman Managing
Director
· Osama Mohamed Abdul Raouf Director
· Alaa Eddine Makhlouf Director
· Nevin Saqr Director
· Ahmed El Sayed Ali Finance
Manager
· Hatem
Mohamed El Sheikh Accounts
Manager
Date
of Establishment : 26th
January 2006
Legal
Form : Egyptian
Joint Stock Company
Commercial
Reg. No. :
17386, Cairo
Tax
Card No. :
218-123-140
Issued Capital : £E
225,000,000
Paid up Capital : £E 225,000,000
· Ashraf
Osman Mohamed 55%
· Emad Mohamed Osman ]
]
· Osama Mohamed Abdul Raouf ]
] 45%
· Alaa Eddine Makhlouf ]
]
· Nevin Saqr ]
Activities: Engaged in the import and distribution
of pharmaceutical preparations.
Subject
also manufactures their own registered brand through other pharmaceutical
laboratories, including Multi Apex and Marcarl.
Production Capacity: 60
million units per annum
Import Countries: Europe and the Far East.
International
Suppliers:
·
IPharmathen Pharmaceuticals Greece
·
Bioplax Ltd United Kingdom
Operating Trend: Steady
Subject has a workforce of approximately 150 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
56,000,000 £E
60,000,000
Local sources consider subject’s financial condition to be
Fair.
The above figures were provided by Mr Hatem Mohamed El
Sheikh, Accounts Manager
·
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.
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.66.23 |
|
UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
TRU |
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 |
|
|
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 |
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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 |
-- |
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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.