MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MEDICAL
SCIENTIFIC & CHEMICAL CORP LTD |
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Registered Office : |
Umm Summaq
Street, Mqablain, P O Box 925125, Amman 11190 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
21st June 1984 |
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Com. Reg. No.: |
1402, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import
and distribution of medical supplies and equipment. |
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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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MEDICAL SCIENTIFIC & CHEMICAL CORP LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 21st June 1984
Commercial Registration Number : 1402, Amman
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 24
Line of Business : Distributors of medical supplies and equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MEDICAL SCIENTIFIC
& CHEMICAL CORP LTD
ADDRESS
Registered & Physical Address
Street : Umm Summaq Street
Area : Mqablain
PO Box : 925125
Town : Amman 11190
Country : Jordan
Telephone : (962-6) 4205858
Facsimile : (962-6) 4205655
Mobile : (962-79) 5523745
Email : santeali@go.com.jo
Premises
Subject operates
from a small suite of offices, a warehouse and a showroom that are owned and
located in the Central Business Area of Amman.
KEY PRINCIPALS
·
Nabil Yousef
Ghunaim Managing
Director
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Ali Mahmoud
Awad Al Khader Director
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Ahmed Abu
Samra Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 21st
June 1984
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited
Liability Company)
Commercial Reg. No. : 1402, Amman
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of Shareholder (s)
Percentage
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Nabil Yousef
Ghunaim 50%
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Ali Mahmoud
Awad Al Khader 50%
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
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Sandra
Technical Establishment for Lab Supplies
Amman
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National
Factory for Lab Chemicals & Equipment
Amman
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
medical supplies and equipment.
Import Countries
: Europe, China, Japan and the
United States of America.
Agencies Held :
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Quest
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Armfield
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Mayasan
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Boeckel
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F-Unduetsch
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Neelirion
Export Countries
: Iraq
Operating Trend
: Steady
Subject has a
workforce of 24 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency :
Jordanian Dinars (JD)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Sales JD 1,985,200 JD
2,127,000
Total Assets JD 709,000 JD 814,000
Stock JD 191,430 JD 210,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Arab Bank Plc
Shmeisani Branch
PO Box : 950545 & 950544
Amman 11195
Tel : (962-6) 5607231 / 5607115
Fax : (962-6) 5606793 / 5606830
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1984, subject is involved in the import and distribution of medical supplies
and equipment.
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.
Maximum suggested
credit figure: US$ 150,000
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. |
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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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%)