MIRA
INFORM REPORT
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Report Date : |
01.08.2007 |
IDENTIFICATION DETAILS
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Name : |
EVA PHARMA FOR
PHARMACEUTICALS & MEDICAL APPLIANCES SAE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
June 1997 |
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Com. Reg. No.: |
114094, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the manufacture
and marketing of pharmaceuticals and appliances for hospitals. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EVA PHARMA FOR PHARMACEUTICALS & MEDICAL
APPLIANCES SAE
Trading As : EVA PHARMA
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : June 1997
Commercial Registration Number :
114094,
Issued Capital : £E 30,000,000
Paid up Capital : £E 25,000,000
Total Workforce : 150
Line of Business : Manufacture and marketing of pharmaceuticals and hospital
appliances
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
COMPANY NAME
EVA PHARMA FOR
PHARMACEUTICALS & MEDICAL APPLIANCES SAE
TRADING AS
EVA PHARMA
ADDRESS
Registered & Physical Address
Street :
Area : Zamalak
Town :
Country :
Telephone : (20-2) 7354945 / 7354538
Facsimile : (20-2) 7362677 / 3412677
Email : eva@infinity.com.eg
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
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10
Shawarbi Street Rented
office
Tel : (20-2) 3959204 / 3959205
Fax : (20-2) 3959204
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Kafr El
Gabal Owned
factory & warehouse
Pyramids –
Tel : (20-2) 3810782 / 3810781
Fax : (20-2) 3810744 / 3812014
KEY PRINCIPALS
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Dr
Mounir R. Armanious Managing
Director
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Mrs
Mona Youssef Bassel Rabbat Director
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Mourad
Ghabbour General
Manager
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Samir
Labib Finance
Manager
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Yonan
Khanagri Commercial
Manager
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Dr
Wahid Wardi Production
Manager
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Magdy
Mikhael Export
Manager
LEGAL FORM &
OWNERS
Date of Establishment : June 1997
(Production started June 1999)
Legal Form :
Societe Anonyme Egyptienne
- SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 114094,
Issued Capital : £E 30,000,000
Paid up Capital : £E 25,000,000
Name of Shareholder
(s)
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Dr
Mounir R. Armanious
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Mrs
Mona Youssef Bassel Rabbat
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Eva
Cosmetics
12,
Zamalek
Tel : (20-2) 3404945 / 3404538
Fax : (20-2) 3412677
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe Anonyme Egyptienne - SAE – should not be less than £E 500,000 if shares are offered to the public and £E 250,000 if not. If shares are offered to the public they are freely transferable, if not, transfer may be restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations : Subject is engaged in the manufacture and
marketing of pharmaceuticals and appliances for hospitals.
Import Countries
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International
Suppliers :
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Decosa
GmbH
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Merck
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Euronat
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Recordati
Brand Names : EVA
Operating Trend
: Steady
Subject has a workforce
of approximately 150 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Egyptian
Pounds (£E)
Year
Ending 31/12/04: Year
Ending 31/12/05:
Total Revenue £E 19,200,000 £E 24,175,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
International Bank
PO Box : 2430
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
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Egyptian
Gulf Bank
El
PO Box : 56
Tel : (20-2) 3606580 / 3606467
Fax : (20-2) 3420265 / 3606512
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Misr
International Bank (MIBANK)
PO Box : 218
Tel : (20-2) 3494424 / 3497091
Fax : (20-2) 3606323
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National
Societe Generale Banque SAE
PO Box : 2664
Tel : (20-2) 5749376
Fax : (20-2) 5776249
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction June 2004 February 2006
Credit amount 100,000 14,000
Amount overdue 0 0
Payment terms 60
days 30
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars Pounds
Sterling
GENERAL COMMENTS
Eva Pharma For
Pharmaceuticals & Medical Appliances SAE was established in 1997 and began
production in June 1999. It has made steady progress in the local market.
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 and the above credit figure is within
subject’s financial means.
Maximum suggested
credit figure: US$ 400,000
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)