MIRA
INFORM REPORT
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Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
ASIA
PHARMACEUTICAL INDUSTRIES |
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Registered Office : |
Azzaz
Road, Aleppo Industrial Estate, PO Box: 8848,
Aleppo, Syria |
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Country : |
Syria |
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Date of Incorporation : |
1988 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Manufacture, development and marketing of pharmaceuticals. |
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$
350,000 |
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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 |
ASIA PHARMACEUTICAL INDUSTRIES |
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Country of Origin |
Syria |
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Legal Form |
Limited Liability Company |
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Start Date |
1956 |
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Registration Date |
1988 |
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Issued Capital |
SY Pnds 20,000,000 |
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Paid up Capital |
SY Pnds 20,000,000 |
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Total Workforce |
500 |
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Line of Business |
Manufacture, development and marketing of pharmaceuticals. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
ASIA
PHARMACEUTICAL INDUSTRIES
ADDRESS
Registered & Physical Address
Street : Azzaz Road
Area : Aleppo Industrial Estate
PO Box : 8848
Town : Aleppo
Country : Syria
Telephone : (963-21) 2213033
Facsimile : (963-21) 2220407
Email : asia@asiapharma-syria.com
Premises
Subject
operates from a suite of offices and a factory covering an area of 60,000
square metres that are owned and located on the outskirts of Aleppo.
KEY PRINCIPALS
·
Mohamed Al Sukhni Managing
Director
·
Dr. Abdul Nasser Sijari Director
·
Adnan Al Sukhni Director
LEGAL FORM & OWNERS
Date of Establishment : Subject’s operations date back to 1956, however it was registered in 1988 under the current style.
Legal Form : Limited Liability Company
Issued
Capital : SY Pnds 20,000,000
Paid
up Capital : SY Pnds 20,000,000
Name of Shareholder (s)
·
Mohamed Al Sukhni
·
Dr. Abdul Nasser Sijari
·
Adnan Al Sukhni
LINE OF BUSINESS
Operations: Engaged in
the manufacture, development and marketing of ethical pharmaceuticals for human
use. Subject’s product range includes:
- Tablets (plain and coated)
- Oral Hormones
- Oral Penicillins
- Oral Cephalosporins
- Oral Liquids
- Powder Injectable Vials for Penicillins
- Powder Injectable Vials for Cephalosporins
- Liquid Injectable Vials and Ampoules for non
Hormones
- Liquid Injectable Vials for Eye Drops
- Liquid Injectable Vials and Ampoules for
Hormones
- Herbal Medicines and Plant based products
-
Soft Gelatines
Subject is accredited with ISO 9001 and ISO 14000
certification.
Import
Countries:
Germany, Slovakia, United Kingdom, Hungary, Denmark, Italy and Egypt.
International
Suppliers:
·
Jena Pharma Germany
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Dentinox Germany
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Slovako Pharma Slovakia
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Vega United
Kingdom
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Jedeon Richter Hungary
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Danish Pharma Denmark
·
IBI Italy
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Mebaco Egypt
Export
Countries: Algeria, Armenia, Djibouti, Iraq, Ivory Coast, Nigeria,
Somalia, Sudan, UAE and Yemen
Subject
has a workforce of approximately 500 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Syria are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Commercial
Bank of Syria
Branch No. 5
Aleppo
Tel :
(963-21) 3621200
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Asia
Pharmaceutical Industries is well established in the regional market and enjoys
a good reputation for the quality of its products.
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 and the above credit
figure is within subject’s financial means.
Maximum
suggested credit figure: US$ 350,000
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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