MIRA INFORM REPORT

 

 

Report No. :

341713

Report Date :

22.09.2015

 

IDENTIFICATION DETAILS

 

Name :

HIKMA PHARMA SAE

 

 

Registered Office :

12 El Esraa Street, Mohandessin, Giza, PO Box No.: 1913, Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2014

 

 

Year of Establishment :

1985

 

 

Com. Reg. No.:

87081, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Subject is engaged in the manufacture and export of pharmaceuticals, including vitamins, antacids, anaesthetics, disinfectants and pharmaceutical preparations for urology, dermatology, gynaecology, obstetrics, metabolism, nutrition, gastric ulcers, bile and anti-diarrhoea.

 

 

No. of Employees :

700

 

 

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 – 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

 

 

SUMMARY

 

Company Name                                    : HIKMA PHARMA SAE

Country of Origin                                   : Egypt

Legal Form                                           : Egyptian Joint Stock Company

Registration Date                                  : 1985

Commercial Registration Number           : 87081, Cairo

Tax Card Number                                  : 101-329-100

Journal Issue Number                            : 1220

Issued Capital                                       : £E 20,000,000

Paid up Capital                                     : £E 20,000,000

Total Workforce                                     : 700

Activities                                               : Manufacture and export of pharmaceuticals.

Financial Condition                                : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Mohamed Mouwafi, Accounts Manager

 

COMPANY NAME

 

HIKMA PHARMA SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 12 El Esraa Street

Area                 : Mohandessin, Giza

 

PO Box            : 1913

 

Town                : Cairo

Country             : Egypt

 

Telephone         : (20-2) 38292693 / 33448861 / 33448864

Facsimile          : (20-2) 33050739

Email                : mmouwafy@hikmaegyp.com / mobaid@hikmaegypt.com

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       2nd Industrial Zone, Plot No.1                                                             Factory premises

6th of October City 12541

Tel: (20-2) 38331643 / 38202643

Fax: (20-2) 38331791

 

·       2 El Messaha Square                                                                        Rented office premises

Dokki, Giza

       Cairo

       Tel: (20-2) 37490140 / 37490141 / 37490142 / 37490143

       Fax: (20-2) 37499253 / 37490144

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mazen Darwazah                                                                               Chairman

·       Dr Hassan Shafik                                                                              Managing Director

 

·       Dr Mamoun Airida                                                                             Sales Manager

 

·       Mohamed Ebeid Mewafy                                                                  Finance Manager

 

·       Mona Sherif Ahmed                                                                          Factory Manager

 

·       Mohamed Abd El Daim                                                                     Human Resources Manager

 

·       Mohamed Mouwafi                                                                           Accounts Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1985

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.   : 87081, Cairo

 

Tax Card No.                : 101-329-100

 

Journal Issue No.         : 1220

 

Authorised Capital       : £E 100,000,000

 

Issued Capital              : £E   20,000,000

 

Paid up Capital            : £E   20,000,000

 

Name of Shareholder (s)                                               Percentage

 

·       Hikma Pharmaceuticals                                             99.98%

United Kingdom

 

·       Hikma Holding                                                            0.01%

United Kingdom

 

·       Hikma Investment                                                       0.01%

United Kingdom

 

 

OPERATIONS

 

Activities:         Engaged in the manufacture and export of pharmaceuticals, including vitamins, antacids,

anaesthetics, disinfectants and pharmaceutical preparations for urology, dermatology, gynaecology, obstetrics, metabolism, nutrition, gastric ulcers, bile and anti-diarrhoea.

Import Countries: United Kingdom, Germany, Italy, France, Japan, Jordan, Saudi Arabia and India.

 

Export Countries: Yemen, Jordan, Algeria and Lebanon.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 700 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 415,000,000                         £E 427,500,000

 

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

 

The above figures were provided by Mr Mohamed Mouwafi, Accounts Manager

 

 

BANKERS

 

·       National Bank of Egypt

24 Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

·       Export Development Bank of Egypt

     4th Industrial Region, Plot 3/1

Giza

6th of October City

Tel: (20-2) 38330577 / 38330599

Fax: (20-2) 38330570 / 38330551

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject enjoys a good reputation for the quality of its products with nothing detrimental uncovered regarding the manner in which operations are conducted. As such the company is considered to be a fair trade risk.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.75

UK Pound

1

Rs.102.17

Euro

1

Rs.74.38

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

VNT

 

               

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.