MIRA
INFORM REPORT
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Report Date : |
18.10.2011 |
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) : |
31.12.2010 |
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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 & appliances for hospitals. |
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$ 1,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Egypt |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
/ purchasing@evapharma.com
Premises
Subject operates from a large 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
Street 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
Opinion on the credit figure of US$ 100,000:
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.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.89 |
|
|
1 |
Rs.77.31 |
|
Euro |
1 |
Rs.67.79 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.