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MIRA INFORM REPORT
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Report Date : |
11th May 2006 |
IDENTIFICATION DETAILS
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Name : |
ARAB PHARMACEUTICAL MANUFACTURING CO LTD (APM) |
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Registered Office : |
King
Hussein Street 1695,
Amman 11118 Jordan |
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Date of Incorporation : |
1962 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Production,
packaging and marketing of pharmaceuticals. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
RATING
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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 |
ARAB PHARMACEUTICAL MANUFACTURING CO LTD (APM) |
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Country of
Origin |
Jordan |
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Legal Form |
Limited Liability
Company |
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Registration
Date |
1962 |
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Issued Capital |
JD 18,000,000 |
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Paid up
Capital |
JD 18,000,000 |
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Total
Workforce |
880 |
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Line of
Business |
Production,
packaging and marketing of pharmaceuticals. |
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Financial
Condition |
Undetermined |
|
Payments |
Prompt |
COMPANY NAME
ARAB PHARMACEUTICAL
MANUFACTURING CO LTD (APM)
ADDRESS
Registered &
Physical Address
Location : King Hussein Street
PO Box : 1695
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 5802200 / 5685121
Facsimile : (962-6) 5802203 / 5685131
Email : info@apm.com.jo
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Amman.
Branch Office (s)
Location Description
Al Salalem Street Owned
factory premises
Al Sult Industrial
Area, Buhaira
PO Box : 42
Al Sult
Tel : (962-5)
3554961 / 3554962 / 3554963
Fax : (962-5)
3551897
Amman Owned warehouse premises
Tel : (962-6)
5685131
PO Box : 2418 Owned
laboratory premises
Damascus
Syria
KEY PRINCIPALS
Anis Moasher Chairman
Issam Hamdi Saket Managing
Director
Dr Kamel Al Shaer Director
T. Homsi Director
Dr Shukri Shakshir Director
Naser Nasrawi Director
Mohamed
J. Hadeed Director
Salim
Jumaian Director
G.H. Shahatit Director
Marwan
Elhmoud Director
Rajab
Al Saad Director
Yousef Zaghari Finance
Manager
Saoud Hijjawi Commercial
Manager
Nidal Husari Production
Manager
Kamal Abdullah Service
Manager
Sayyed Ashouri Marketing
Manager
Zaid Azzam Quality
Control
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1962 (Production began
in August 1964)
Legal Form : Sharikat Thet Massouliya Mahdoudeh
(Limited Liability Company)
Issued Capital : JD 18,000,000
Paid up Capital : JD 18,000,000
Name of Shareholder
(s) Percentage
Social Security
Corporation
9.92%
Jordan
Housing Bank 3.20%
Jordan
Jordan Kuwaiti Bank 6.00%
Jordanian
businessmen and private investors 80.88%
Note to the
Legal Form A Limited Liability Company is defined in the
Company Law as a company incorporated with a minimum of two and maximum of
fifty shareholders, each responsible only for the liabilities of the company to
the extent of their share participation in the capital of the company.
AFFILIATED COMPANIES
Jordan Antiseptics
& Detergents Co
Amman
Jordan Detergents
Company
Amman
Arab Algerian
Pharmaceutical Distribution Company
Algeria
LINE OF BUSINESS
Operations :
Subject is engaged in the production, packaging and marketing of medications,
intravenous solutions, chemical and nutritional products, vitamins, hormone
drugs, organ extracts, pharmaceutical preparations, carbohydrates, proteins,
enzymes and veterinary products.
Subject’s full
product range covers Alimentary Tracts, Blood & Blood Forming Organs,
Cardiovascular System, Central Nevous System, Dermatologicals, Musculo-Skeletal
System, Respiratory System, Systemic Anti-Infectives, Systemic Hormones,
Systemic Trichomonacides, Generics, and I.V Fluids
Subject has a
licensing agreement with Takeda, Japan.
Clients :
Bulgarian Drug
Agency
Import Countries :
Germany and the United Kingdom.
International
Suppliers :
AstraZeneca United Kingdom
Export Countries :
Subject exports to over 30 countries in
the Middle East, Africa and
Eastern Europe. The
main markets are Iraq, Saudi Arabia, Algeria and Libya. In 2000 exports
constituted 71 percent of total sales.
Brand Names : APM
Subject has a
workforce of approximately 880 employees.
FINANCIAL HIGHLIGHTS
No financial
information was available.
BANKERS
Jordan Kuwait Bank
Abdali Branch
PO Box : 9776
Amman
Tel : (962-6)
5688814
ANZ Grindlays Bank
Shmeisani Branch
PO Box : 9997
Amman
Tel : (962-6)
4660201
Fax : (962-6)
4679115
Cairo Amman Bank
Shabsough Street
PO Box : 715
Amman
Tel : (962-6)
5639321 / 5623100 / 5623109
Fax : (962-6) 5639328
Jordan Islamic Bank
Shmeisani Branch
PO Box : 926225
Amman
Tel : (962-6)
5677377
Arab Bank Plc
Shmeisani Branch
PO Box : 950545
& 950544
Amman 11195
Tel : (962-6)
5607231 / 5607115
Fax : (962-6)
5606793 / 5606830
Email : secretariat@arabbank.com.jo
Jordan National
Bank
PO Box : 1578
Amman
Tel : (962-6)
4612391
PAYMENT HISTORY
Subject’s payment
record is reported to be met in a generally prompt manner.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
In 1962 Arab
Pharmaceutical Manufacturing Co Ltd (APM) was established and became the first
pharmaceuticals producer in Jordan.
According to local
sources subject’s operating history is clear with nothing detrimental uncovered
regarding the manner in which payment obligations are fulfilled. As such the
company is considered to be trustworthy for respecting its financial trade
commitments and the above credit figure is deemed admissible.
Maximum suggested
credit figure: US$ 500,000
RATING EXPLANATIONS
RATING
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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 |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |