MIRA INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AKHNATON FOR TRADING & AGENCIES |
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Registered Office : |
12 El Montazah Street, Zamalek, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1975 |
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Legal Form : |
Egyptian Joint
Stock Company |
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Line of Business : |
Agents, Importers and Distributors of Packaging Machines for Pharmaceutical and Cosmetics Products |
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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Maximum Credit Limit : |
US$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AKHNATON FOR TRADING
& AGENCIES
Trading As :
EVA LABORATORY
Country of Origin : Egypt
Legal Form : Egyptian
Joint Stock Company
Registration Date : 1975
Issued Capital : £E
7,000,000
Paid up Capital : £E
7,000,000
Total Workforce : 150
Activities :
Agents, importers and distributors of packaging
machines for
pharmaceutical and cosmetics products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 300,000
COMPANY NAME
AKHNATON FOR TRADING & AGENCIES
TRADING AS
EVA LABORATORY
ADDRESS
Registered &
Physical Address
Street : 12 El Montazah Street
Area : Zamalek
Town : Cairo
Country : Egypt
Telephone : (20-2) 27354945 / 27354538
Facsimile : (20-2) 27362677
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
· 13 El
Mousikar Ali Ismail Street Sales
office
Dokki, Giza
Cairo
Tel:
(20-2) 37481584 / 37481564 / 37496056
KEY PRINCIPALS
Name Position
· Dr.
Mounir Riyad Armanious Managing
Director
· Dr.
Hany Tawfik Director
· Dr.
Mourad Ghabbour General
Manager
· Karim
Habiqa Finance
Manager
· Linda
Armanious Marketing
Manager
· Mona
Fawzy IT
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1975
Legal Form : Egyptian Joint
Stock Company
Issued Capital : £E 7,000,000
Paid up Capital : £E 7,000,000
Name of Shareholder (s)
· Dr.
Mounir Riyad Armanious
· Dr.
Hany Tawfik
AFFILIATED COMPANIES
· Eva Pharma For
Pharmaceuticals & Medical Appliances SAE (Eva Pharma)
12, Muntazah Street
Zamalek
Cairo
Tel:
(20-2) 27354945 / 27354538
Fax:
(20-2) 27362677 / 23412677
Email:
eva@infinity.com.eg
· Eva Cosmetics
12, Muntazah
Street
Zamalek
Cairo
Tel : (20-2)
3404945 / 3404538
Fax : (20-2)
3412677
OPERATIONS
Activities: Engaged as agents, importers and distributors
of packaging machines for pharmaceutical and cosmetics products.
Import Countries: Germany and India
Export Countries: Subject exports to the Gulf Region.
Brand Names: CLOCKNER, BAUSCH &
STROBEL, PHARM CONSULT, & SRM
Operating Trend: Steady
Subject has a workforce of approximately 150 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales £E
60,000,000 £E
64,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
·
National Societe Generale Bank
53 Shoura Street
Cairo
Tel: (20-2)
25771351
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
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 and
the above credit figure is within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 41.96 |
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UK Pound |
1 |
Rs. 83.78 |
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Euro |
1 |
Rs. 65.82 |
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. |
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%)