MIRA
INFORM REPORT
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Report Date : |
17.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
EMA PHARM |
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Registered Office : |
Pharma Plaza
Building, Asma Fahmy Street, Nozha, Nasr City, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Production and Marketing of Herbal
Pharmaceutical Preparations |
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$ 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EMA PHARM
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1995
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 110
Activities : Production and marketing of herbal pharmaceutical preparations
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 350,000
COMPANY NAME
EMA PHARM
ADDRESS
Registered & Physical Address
Building : Pharma Plaza Building
Street : Asma Fahmy Street
Area : Nozha, Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 24177383
/ 24177407
Facsimile : (20-2) 24177383
Mobile : (20-)
Email : info@emapharm.com
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Suburban
Business Area of Cairo.
Branch Office
(s)
Location Description
·
Alexandria Sales
Office
Tel: (20-12) 2464968
·
Mansoura Sales Office
Tel: (20-12) 2467708
·
Sohag Sales Office
Tel: (20-93) 313494
KEY PRINCIPALS
Name Position
·
Ahmed
Badr Managing
Partner
·
Emam
El Amin Partner
·
Alaa
Abd El Moaaty Finance
Manager
·
Dr.
Khaled El Zekhary Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder (s)
·
Ahmed
Badr
·
Emam
El Amin
OPERATIONS
Activities: Engaged in the production and marketing of herbal pharmaceutical preparations.
Subject’s products are manufactured at 3rd party facilities
including Pharoania Pharmaceuticals, Amriya pharmaceuticals, Technopharm Egypt,
and R. P Sherer Egypt.
Import
Countries: Canada, United States
of America, China and India
International
Suppliers:
·
Accucaps Canada
·
Sante Naturelle Canada
·
Thera Plantes Canada
·
Flora Canada
·
Jingsu Soho International Group Corporation China
·
Shaanxi Scidoor Hi-Tech Biology Co Ltd China
·
Hetero Chemicals Ltd India
Brand Names: EMA PHARM
Operating Trend: Steady
Subject has a
workforce of approximately 110 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 22,100,000 £E 24,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Egyptian
American Bank
4 & 6 Hassan Sabri
Zamalek
PO Box 1825
Cairo
Tel: (20-2) 33416150
Fax: (20-2) 33420265
·
National Bank
of Egypt
24, Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Ema Pharm was
established in 1995 and has become the leading producer of herbal pharmaceutical preparations in Egypt.
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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.46.34 |
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UK Pound |
1 |
Rs.82.96 |
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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%)