|
Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
RIVA PHARMA |
|
|
|
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Registered Office : |
Public Free
Zone Street, No. 6, Nasr
City, Cairo |
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|
|
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Country : |
Egypt |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Year of Establishment : |
1997 |
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|
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and export of pharmaceuticals |
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|
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No. of Employees : |
80 |
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 |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : RIVA PHARMA
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1997
Issued Capital : £E 25,000,000
Paid up Capital : £E 25,000,000
Total Workforce : 80
Activities : Manufacture and export of pharmaceuticals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
RIVA PHARMA
Registered &
Physical Address
Street : Public Free
Zone Street, No. 6
Area : Nasr
City
Town : Cairo
Country : Egypt
Telephone : (20-2) 22709936
Facsimile : (20-2) 22709937
Email :
info@rivapharma.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Cairo.
Branch Offices
Location Description
·
68
Street No. 105 Office
premises
Maadi
Cairo
Tel: (20-2) 25253042
Fax: (20-2) 25251110
Name Position
·
Dr Saad El Din Mahmoud Mohamed Chairman
·
Mahmoud Abdallah Fekry Saad Managing
Director
·
Amaal Saad El Din Mahmoud Director
·
Mohamed Ali Abd El Aziz Director
·
Ahmed Badawi General
Manager
·
Ayman Ismail Finance
Manager
·
Ahmed Abdallah Administration
Manager
·
Mohamed
Fathy Purchasing
Manager
·
Dr
Ghada Kamel Sales
Manager
Date of Establishment : 1997
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 25,000,000
Paid up Capital : £E 25,000,000
Name of Shareholder
(s) Percentage
·
Dr Saad El Din Mahmoud Mohamed 45%
·
Mahmoud Abdallah Fekry Saad 45%
·
Amaal Saad El Din Mahmoud
10%
Activities: Engaged in the manufacture and export of pharmaceuticals.
At present Riva supply the regional markets with more than 45 drugs covering a wide spectrum of pharmacological activities.
The pharmaceutical manufacturing activities at Riva Pharma are licensed
by the Ministry of Public Health of
Egypt and are covered by manufacturing license no. 2/2000 issued on 2/5/2000
for the manufacture of non -sterile
products.
Riva Pharma became
an approved UNRWA supplier in September 2004.
Import
Countries: India
Export
Countries: Kuwait,
United Arab Emirates, Tunisia, Algeria, and Libya.
Operating Trend: Steady
Subject has a
workforce of 80 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 31,000,000 £E 32,850,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Export
Development Bank of Egypt
108 Mohi El Din Abu El Ezz Street
Mohandessin
Cairo 11111
Tel: (20-2) 33619005 /
33385877
Fax: (20-2) 33385940 /
33385938
No complaints
regarding subject’s payments have been reported.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.81 |
|
UK Pound |
1 |
Rs.87.67 |
|
Euro |
1 |
Rs.68.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.