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MIRA INFORM REPORT
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Report No. : |
495471 |
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Report Date : |
10.03.2018 |
IDENTIFICATION DETAILS
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Name : |
AL ANDALOUS FOR
PHARMACEUTICAL INDUSTRIES |
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Registered Office : |
El Zeny Tower, 6th
Floor, 25 Misr Helwan Agricultural Road, Maadi, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2017 |
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Year of Establishment
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2011 |
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Com. Reg. No.: |
14374 |
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Legal Form : |
Egyptian Joint Stock
Company |
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Line of Business : |
Manufacture of
pharmaceuticals and cosmetics. Subject's product
range includes: · Alimentry tract and metabolism · Blood and blood forming organs · Cardiovascular System · Dermatologicals · Genito - Urinary system and sex hormones · Systemi hormonal preparations (excluding sex hormones) · General Anti-infectives , Systemic · Antineoplastic and immunodulating agents · Musculo- skeletal system · Central Nervous System · Food supplements · Cosmetics |
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No. of Employees : |
70 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Egypt |
C1 |
C1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. Agriculture, hydrocarbons, manufacturing, tourism, and other service sectors drove the country’s relatively diverse economic activity.
Despite Egypt’s mixed record for attracting foreign investment over the past two decades, poor living conditions and limited job opportunities have contributed to public discontent. These socioeconomic pressures were a major factor leading to the January 2011 revolution that ousted MUBARAK. The uncertain political, security, and policy environment since 2011 has restricted economic growth and failed to alleviate persistent unemployment, especially among the young.
In late 2016, persistent dollar shortages and waning aid from its Gulf allies led Cairo to turn to the IMF for a 3-year, $12 billion loan program. To secure the deal, Cairo floated its currency, introduced new taxes, and cut energy subsidies - all of which pushed inflation above 30% for most of 2017, a high that had not been seen in a generation. Since the currency float, foreign investment in Egypt’s high interest treasury bills has risen exponentially, boosting both dollar availability and central bank reserves. Cairo will need to make a sustained effort to implement a range of business reforms, however, to induce foreign and local investment in manufacturing and other labor-intensive sectors.
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Source
: CIA |
SUMMARY
Company Name : AL
ANDALOUS FOR PHARMACEUTICAL INDUSTRIES
Country of Origin : Egypt
Legal Form : Egyptian
Joint Stock Company
Registration Date : 2011
Commercial
Registration Number : 14374
Tax Card Number : 613-541-685
Issued Capital : £E
2,000,000
Paid up Capital : £E
2,000,000
Total Workforce :
70
Activities :
Manufacturers of pharmaceuticals and cosmetics
Financial Condition : Fair
Payments :
No Complaints
COMPANY
NAME
AL ANDALOUS FOR
PHARMACEUTICAL INDUSTRIES
ADDRESS
Registered & Physical
Address
Building : El Zeny Tower, 6th
Floor
Street : 25 Misr Helwan Agricultural
Road
Area : Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 23580826 / 23580832 / 23580752
Facsimile : (20-2) 23580507
Email : nhany@alandalous.org / info@alandalous.org
Please note that
the address you provided belongs to the subject’s sister concern (see below).
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Section
6/7 - 6th Industrial Zone Factory
premises covering 14,000
6th of October City square
metres
Tel: (20-2) 38290359 / 38290357 / 8 / 9
Fax: (20-2) 38290358 / 38290441
·
El Nasr
Street Office
premises
Smouha
Alexandria
·
Jamal
Karnak Tower Office
premises
Ahmed Maher Street
Mansoura
·
102 El
Qoda Towers Street Office
premises
Assiut
KEY
PRINCIPALS
Name Position
·
Mohamed
Ahmed Ibrahim Managing
Director
·
Safwat Abd
El Moneim Factory
Manager
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Hazem
Mahmoud Financial
Manager
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Mohamed
Abbass Administration
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 2011
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 14374
Tax Card No. : 613-541-685
Issued Capital : £E 2,000,000
Paid up Capital : £E 2,000,000
Name of Shareholder (s) Percentage
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Mohamed
Ahmed Ibrahim 97%
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Menah
Mohamed Ahmed Ibrahim 1%
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Moustafa
Mohamed Ahmed Ibrahim 1%
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Noha
Zaazouaa 1%
AFFILIATED
COMPANIES
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Al
Andalous Medical Company
Villa 52, Street No. 104
Hadayek El Maadi
Cairo
Tel: (20-2) 23580826 / 23580832 / 23580752
Fax: (20-2) 23580507
OPERATIONS
Activities: Engaged in the manufacture of pharmaceuticals
and cosmetics. Subject's product range includes:
Alimentry tract and
metabolism
Blood and blood
forming organs
Cardiovascular
System
Genito - Urinary
system and sex hormones
Systemi hormonal
preparations (excluding sex hormones)
General
Anti-infectives , Systemic
Antineoplastic and immunodulating agents
Musculo- skeletal
system
Central Nervous
System
Food supplements
Cosmetics
Import
Countries: Europe and the
Far East
Subject has a
workforce of 70 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year Ending 31/12/16: Year Ending 31/12/17:
Total Sales £E 12,300,000 £E 13,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
The subject and its
shareholders/owners have been searched in the following databases; Office of
Foreign Assets Control (OFAC), United Nations Security Council Sanctions,
Australian Sanctions List, US Consolidated Sanctions List, EU Financial
Sanctions List and UK Financial Sanctions List and nothing adverse could be
found on the exact names listed within the report.
According to local
sources, subject meets its payment obligations in a timely manner and the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.08 |
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1 |
INR 89.85 |
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Euro |
1 |
INR 80.16 |
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EGP |
1 |
INR 3.69 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.