MIRA INFORM REPORT

 

 

Report Date :

04.03.2011

 

IDENTIFICATION DETAILS

 

Name :

EVA PHARMA FOR PHARMACEUTICALS & MEDICAL APPLIANCES SAE

 

 

Registered Office :

12 Muntazah Street Zamalak Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

June 1997

 

 

Com. Reg. No.:

114094, Cairo

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacture and marketing of pharmaceuticals & appliances for hospitals.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 1,500,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Egypt

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

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

Tax Card Number                                   : 204-963-389

Authorised Capital                                  : £E 100,000,000

Issued Capital                                        : £E   25,000,000

Paid up Capital                                      : £E   25,000,000

Total Workforce                         : 970

Activities                                               : Manufacture and marketing of pharmaceuticals & appliances for hospitals.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 1,500,000

 

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) 33959204 / 33959205

       Fax: (20-2) 33959204

 

·       9 El Sharekat Street                                                                          Rented office

Abdin

Cairo

Tel : (20-2) 37354538

Fax : (20-2) 37362677

 

·       176 El Sadat St                                                                                Owned factory & warehouse

Kafr El Gabal

Pyramids – Giza

Cairo

Tel: (20-2) 33812010 / 37496056 / 37481584 / 33810762

Fax: (20-2) 33810744 / 33812014

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Mounir Riyad Armanious                                                                Managing Director

 

·       Riyad Mounir Riyad Armanious                                                           Director

 

·       Dr Hany Tawfik                                                                                  Director

 

·       Mourad Ghabbour                                                                              General Manager

 

·       Hesham Ewais                                                                                  Finance Manager

 

·       Yonan Khanagri                                                                                Commercial Manager

 

·       Dr Wahid Wardi                                                                                Production Manager

 

·       Joseph Ghatas                                                                                  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   25,000,000

 

Paid up Capital            : £E   25,000,000

 

Name of Shareholder (s)                                            Percentage

 

·       Linda Mounir Riyad Armanious                                               32%

 

·       Yassmin Mounir Riyad Armanious                                          32%

 

·       Riyad Mounir Riyad Armanious                                               32%

 

·       Dr Mounir Riyad Armanious                                                      4%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and marketing of pharmaceuticals and appliances for hospitals.

 

Production Capacity: 5,000 tons of cream per year.

 

Import Countries: Germany and Italy

 

International Suppliers:

 

·       Decosa GmbH                      Germany

·       Merck                                  Germany

·       Euronat                                Italy

·       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 970 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                £E 216,000,000                         £E 251,500,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial International Bank

Nile Tower Building

21-23 Giza Street

PO Box: 2430

Cairo

Tel: (20-2) 35703043

Fax: (20-2) 35703172 / 35072691

 

·       Egyptian Gulf Bank

El Orman Plaza Building

8-10 Ahmed Nessim Street

PO Box: 56

Cairo

Tel: (20-2) 33606580 / 33606467

Fax: (20-2) 33420265 / 33606512

 

·       Misr International Bank (MIBANK)

Alfy Street

PO Box: 218

Cairo

Tel: (20-2) 33494424 / 33497091

Fax: (20-2) 33606323

 

·       National Societe Generale Banque SAE

Evergreen Building

10 Talaat Harb Street

PO Box: 2664

Cairo

Tel: (20-2) 35749376

Fax: (20-2) 35776249

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                  June 2004                    February 2006              June 2008

Credit amount                            100,000             14,000                          150,000

Amount overdue             0                                  0                                  0

Payment terms                          60 days                         30 days                         60 days

Payment Method                       Letters of Credit             Letters of Credit             Letters of Credit

Paying record                            No Complaints               No Complaints               No Complaints

Currency                                   US Dollars                     Pounds Sterling             US Dollars

 

 

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.96

UK Pound

1

Rs.73.37

Euro

1

Rs.62.33

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.