MIRA
INFORM REPORT
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Report Date : |
1st
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
MEDICAL AND COSMETIC PRODUCTS COMPANY LTD |
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Registered Office : |
Second Industrial Estate 140, Riyadh 11383, 442, Riyadh 11411 Riyadh Saudi Arabia |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
1010131637, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of pharmaceutical, medical, sterilising and cosmetic products and preparations. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
MEDICAL AND COSMETIC PRODUCTS COMPANY LTD |
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Doing Business As |
RIYADH PHARMA |
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Country of Origin |
Saudi Arabia |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
1995 |
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Commercial Registration Number |
1010131637, Riyadh |
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Membership Number |
7632 |
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Issued Capita |
lSR 100,000,000 |
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Paid up Capita |
lSR 100,000,000 |
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Total Workforce |
180 |
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Line of Business |
Manufacture of pharmaceutical, medical, sterilising and cosmetic products and preparations. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
MEDICAL AND COSMETIC PRODUCTS COMPANY LTD
DOING BUSINESS AS
RIYADH PHARMA
ADDRESS
Registered & Physical Address
Location : Second Industrial Estate
PO Box : 140, Riyadh 11383
442, Riyadh 11411
Town : Riyadh
Country : Saudi Arabia
Telephone : (966-1) 2650111 / 4655075 / 4652354
Facsimile : (966-1) 2650505 / 4644283
Email : info@riyadhpharma.com
Premises
Subject operates from a large suite of offices, a factory and a warehouse covering an area of 22,000 square metres that are owned and located in an Industrial Area of Riyadh.
KEY PRINCIPALS
Waleed Amin Abdul Fattah Al Kayyali Managing Partner
Omar Abdul Fattah Al Aqqad Partner
Abdulaziz Abdullah Abdul Mohsen Al Rubaiee Partner
Hussain Abdul Razzaq Hussain Al Jazaeri Partner
Mohamed Abdulaziz Abdullah Abdul Mohsen Al Rubaiee Partner
Paul Griffin Factory Manager
Dr Abdul Karim Al Said Marketing Manager
Yousef Al Zaghari Finance Manager
LEGAL FORM & OWNERS
Date of Establishment : 15/07/1415 Hijri (Corresponding to 1995)
Legal Form : Limited Liability Partnership
Commercial Reg. No. : 1010131637, Riyadh
Membership No. : 7632
Issued Capital : SR 100,000,000 (Increased from SR 72,000,000 in May 1999)
Paid up Capital : SR 100,000,000 (Increased from SR 72,000,000 in May 1999)
Name of Partner (s) Percentage
Waleed Amin Abdul Fattah Al Kayyali 40%
Al Aqqad Investment Company 35%
Commercial & Industrial Investment Co. 10%
Abdulaziz Abdullah Abdul Mohsen Al Rubaiee 5%
Hussain Abdul Razzaq Hussain Al Jazaeri 5%
Mohamed Abdulaziz Abdullah Abdul Mohsen Al Rubaiee 5%
Notes to the legal Form
A Limited Liability Partnership is a private entity formed by two or more partners who are liable for company debts to the extent of their contributed capital. A maximum of 50 partners are allowed in such a company. The total share capital must be SR 500,000 or more, divided into non-negotiable shares of equal value. The company may not include in its objects the conduct of banking, insurance or savings.
AFFILIATED COMPANIES
Al Haya Medical Co (AMCO)
Prince Abdul Malik Bin Marwan Street
Olaya District
PO Box: 442
Riyadh 11411
Tel: (966-1) 4655075
Fax: (966-1) 4652354
Pharmaceutical Solution Industries Limited (PSI)
Street 203, Road 208
Second Industrial Estate
PO Box : 17476
Jeddah 21484
Tel: (966-2) 6361383 / 6380020
Fax: (966-2) 6379460
National Advanced Systems Co Ltd (NASCO)
Pepsi Cola Street
Malaz District
PO Box: 50009
Riyadh 11523
Tel: (966-1) 4771307
Fax: (966-1) 4774913
United Arab Motors Co Ltd
Malaz District
PO Box: 58310
Riyadh 11494
Tel: (966-1) 4791101
Fax: (966-1) 4767895
LINE OF BUSINESS
Operations : Engaged in the manufacture of pharmaceutical, medical, sterilising and
cosmetic products and preparations. The product range includes syrups, therapeutic tablets, anti-inflammatory and anti-hypertensive capsules, instrument cleaners and sterilising solutions, skin cleanser and medicated anti-bacterial hand washes, surgical scrubs, general antiseptic solutions, as well as floor care detergents.
The sole distributor of its products is Al Haya Medical Co (AMCO).
Production Capacity: Tablets 665,000,000 per annum
Capsules 500,000,000 per annum
Shampoos 10,000,000 units per annum
Skin Lotion 10,000,000 units per annum
Oral Drops 10,000,000 units per annum
Eye Drops 7,500,000 units per annum
Eye Ointments 6,000,000 units per annum
Detergents 2,500,000 units per annum
Antiseptics 2,500,000 units per annum
Import Countries : United Kingdom, Germany, Italy and France.
Brand Names : RIYADH PHARMA
Subject has a workforce of approximately 180 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Saudi Arabia are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.
BANKERS
National Commercial Bank
Airport Road
PO Box : 2800
Riyadh 11461
Tel : (966-1) 4772281
Fax : (966-1) 4730322
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction March 1999 April 2003
Credit amount 200,000 142,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters of Credit Letters of Credit
Paying record No Complaints No Complaints
Currency Pounds Sterling Euros
GENERAL COMMENTS
Medical And Cosmetic Products Company Ltd is a leading manufacturer in Saudi Arabia of pharmaceutical, medical, sterilising and cosmetic products and preparations.
The company is run in a professional manner and is owned by several prominent Saudi businessmen including Mr Waleed Amin Abdul Fattah Al Kayyali.
During the course of this investigation nothing detrimental was uncovered regarding the manner in which payment obligations are fulfilled. The operating history is clear and as such we are of the opinion that the subject is a fair trade risk.
Maximum suggested credit figure: US$ 500,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |