MIRA
INFORM REPORT
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Report Date : |
02.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
EVA PHARMA FOR PHARMACEUTICALS & MEDICAL APPLIANCES SAE |
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Registered Office : |
12 Muntazah
Street, Zamalak, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
June 1997 |
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Com. Reg. No.: |
114094, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
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$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EVA PHARMA FOR PHARMACEUTICALS & MEDICAL APPLIANCES SAE
Trading As : EVA PHARMA
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : June 1997
Commercial Registration Number : 114094, Cairo
Authorised Capital : £E 100,000,000
Issued Capital : £E 35,000,000
Paid up Capital : £E 25,000,000
Total Workforce : 300
Activities : Manufacture and marketing of pharmaceuticals & appliances for hospitals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY NAME
EVA PHARMA FOR
PHARMACEUTICALS & MEDICAL APPLIANCES SAE
TRADING AS
EVA PHARMA
ADDRESS
Registered & Physical Address
Street : 12 Muntazah Street
Area : Zamalak
Town : Cairo
Country : Egypt
Telephone : (20-2) 27354945 / 27354538
Facsimile : (20-2) 27362677 / 23412677
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
·
10 Shawarbi
Street Rented
office
Cairo
Tel : (20-2) 3959204 / 3959205
Fax : (20-2) 3959204
·
176
El Sadat St Owned
factory & warehouse
Kafr El Gabal
Pyramids – Giza
Cairo
Tel: (20-2) 33812010
/ 37496056 / 37481584
Fax: (20-2) 33810744
/ 33812014
KEY PRINCIPALS
Name Position
·
Dr Mounir R.
Armanious Managing
Director
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Mrs Mona
Youssef Bassel Rabbat Director
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Dr.
Hany Tawfik Director
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Mourad
Ghabbour General
Manager
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Hesham
Ewais Finance
Manager
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Yonan Khanagri Commercial
Manager
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Dr Wahid Wardi Production
Manager
·
Magdy Mikhael Export
Manager
LEGAL FORM & OWNERS
Date of Establishment : June 1997
(Production started June 1999)
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 114094, Cairo
Tax Card No. : 204-963-389
Authorised Capital : £E
100,000,000
Issued Capital : £E
35,000,000
Paid up Capital : £E 25,000,000
Name of Shareholder (s)
·
Dr Mounir R.
Armanious
·
Mrs Mona
Youssef Bassel Rabbat
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Eva Cosmetics
12, Muntazah Street
Zamalek
Cairo
Tel : (20-2) 3404945 / 3404538
Fax : (20-2) 3412677
OPERATIONS
Activities: Subject is engaged in the manufacture and
marketing of pharmaceuticals and appliances for hospitals.
Import
Countries: Germany and
Italy
International
Suppliers:
·
Decosa GmbH Germany
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Merck Germany
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Euronat Italy
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Recordati Italy
Export
Countries: Tunisia, Lebanon, Sudan, Libya, United Arab Emirates, and
Algeria
Brand Names: EVA
Operating Trend: Steady
Subject has a
workforce of approximately 300 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 55,750,000 £E 59,300,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
International Bank
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
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Egyptian Gulf
Bank
El Orman Plaza Building
8-10 Ahmed Nessim Street
PO Box : 56
Cairo
Tel : (20-2) 3606580 / 3606467
Fax : (20-2) 3420265 / 3606512
·
Misr
International Bank (MIBANK)
Alfy Street
PO Box : 218
Cairo
Tel : (20-2) 3494424 / 3497091
Fax : (20-2) 3606323
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National
Societe Generale Banque SAE
Evergreen Building
10 Talaat Harb Street
PO Box : 2664
Cairo
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.
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%)