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Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
EVA PHARMA FOR
PHARMACEUTICALS & MEDICAL APPLIANCES SAE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 (Estimated) |
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Date of Incorporation : |
June 1997 |
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Com. Reg. No.: |
114094, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the manufacture and marketing of pharmaceuticals and appliances
for hospitals. |
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No of Employees : |
1,600 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
US$ 1,500,000 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Egypt |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 growth. Poor living conditions
combined with limited job opportunities for the average Egyptian contribute 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, pushing up unemployment levels, and economic
growth remains slow amid political uncertainty, government transitions, unrest,
and cycles of violence. Cairo since 2011 has drawn down foreign exchange
reserves and depended on foreign assistance, particularly from Gulf countries,
to finance imports and energy products and prevent further devaluation of the
Egyptian pound, fearing higher inflation from a weaker currency.
|
Source : CIA |
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
Recommended Credit Limit : US$ 1,500,000
EVA PHARMA FOR PHARMACEUTICALS & MEDICAL
APPLIANCES SAE
EVA PHARMA
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 / 37762469
Fax: (20-2) 33810744
/ 33812014 / 33810779
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
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%
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 highlights provided by local
sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue £E 390,000,000 £E 394,750,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
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
No complaints
regarding subject’s payments have been reported.
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
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.59.79 |
|
UK Pound |
1 |
Rs.102.42 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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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 |
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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 |
|
-- |
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.