MIRA
INFORM REPORT
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Report Date : |
23.11.2013 |
IDENTIFICATION DETAILS
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Name : |
EVA PHARMA FOR PHARMACEUTICALS & MEDICAL
APPLIANCES SAE |
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Registered Office : |
9 El Sharekat Street, Opera Square, Sheyakhet El Fawala, Abdin, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2012 |
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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 : |
Subject is engaged in the manufacture and marketing of pharmaceuticals
and appliances for hospitals. |
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No. of Employees : |
1600 |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Egypt |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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 |
EGYPT - ECONOMIC OVERVIEW
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed to public discontent. After unrest erupted in January 2011, the Egyptian Government backtracked on economic reforms, drastically increasing social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction were among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow during the next several years. The government drew down foreign exchange reserves by more than 50% in 2011 and 2012 to support the Egyptian pound and the dearth of foreign financial assistance - as a result of unsuccessful negotiations with the International Monetary Fund over a multi-billion dollar loan agreement which have dragged on more than 20 months - could precipitate fiscal and balance of payments crises in 2013.
|
Source
: CIA |
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
Industrial Registration Number :
007
Authorised Capital :
£E 100,000,000
Issued Capital :
£E 25,000,000
Paid up Capital :
£E 25,000,000
Total Workforce :
1,600
Activities :
Manufacture and marketing of pharmaceuticals & appliances for hospitals.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
EVA PHARMA FOR PHARMACEUTICALS & MEDICAL APPLIANCES SAE
TRADING AS: EVA PHARMA
ADDRESS
Registered &
Physical Address
Street : 9 El
Sharekat Street, Opera Square
Area : Sheyakhet El
Fawala, Abdin
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 / 23917508 / 23992700
Fax: (20-2) 33959204 / 23917370 / 23992700
·
12 El Montazah Street Rented
office
Zamalek
6th of October City
·
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 / 33810779
KEY PRINCIPALS
Name Position
Dr Mounir Riyad Armanious Managing
Director
Dr Riyad Mounir Riyad Armanious Director
Dr Hany Tawfik Director
Dr Mourad Ghabbour General
Manager
Hesham Ewais Finance Manager
Hesham Adly Accounts
Manager
Yonan Khanagri Commercial
Manager
Dr Wahid Wardi Production
Manager
Ibrahim Moustafa Export
Manager
Lawrence Laster Consultant
Dr Ahmed Hassan Export
Regional Manager
Joseph Ghatas Export
Regional 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
Industrial Reg.
No. : 007
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 2%
Mona Youssef Robat 2%
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,
Italy, Belgium, China, Indonesia and Spain.
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 1,600 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year Ending 31/12/11: Year Ending 31/12/12:
Total Sales £E
382,000,000 £E
390,000,000
Local sources consider subject’s financial condition to be Good.
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
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.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
|
<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.