MIRA
INFORM REPORT
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Report Date : |
04.07.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
05.06.1983 |
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Com. Reg. No.: |
185, |
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Legal Form : |
Public Shareholding company – PLC |
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Line of Business : |
Manufacturers of gelatine capsules. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
INDUSTRIES CO
Country of Origin :
Legal Form :
Public Shareholding Company - PLC
Registration Date : 5th
June 1983
Commercial
Registration Number : 185,
Issued Capital : JD
5,000,000
Paid up Capital : JD
5,000,000
Total Workforce : 110
Line of Business :
Manufacturers of gelatine capsules.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ARAB CENTER FOR
PHARMACEUTICALS & CHEMICAL INDUSTRIES CO
ADDRESS
Registered & Physical Address
Location :
PO Box : 22
Town :
Country :
Telephone : (962-6) 4022470 / 4022471
Facsimile : (962-6) 4022473
Email : gm@acpc.com.jo
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Amman.
KEY PRINCIPALS
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Mazen
Tantash Chairman
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Atta Al
Nazer Director
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Ibrahim
To’meh Director
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Meshal
Abu Amirah Director
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Hamad
Tantash Director
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Sami
Ziab Abdulla Director
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Khalil
Nasr Director
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Mohamed
Al Ghoul Director
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Saadi
Qatawi Director
LEGAL FORM &
OWNERS
Date of Establishment : 5th
June 1983
Legal Form :
Sharikat Al Mousahama Al
Aamah (Public Shareholding
Company - PLC)
Commercial Reg. No. : 185,
Issued Capital : JD 5,000,000
Paid up Capital : JD 5,000,000
Name of Shareholder
(s)
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Mazen
Tantash
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Atta Al
Nazer
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Ibrahim
To’meh
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Meshal
Abu Amirah
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Hamad
Tantash
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Sami
Ziab Abdulla
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Khalil
Nasr
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Mohamed
Al Ghoul
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Saadi
Qatawi
A Public Shareholding Company (PLC) is formed by two or more shareholders. The liability of the shareholders is limited to their shares in the company’s capital. The minimum authorised capital is set at JD 500,000 of which at least 25 % should be paid upon incorporation, with the remaining 75 % to be paid within four years. Shares must be offered to the public and are freely transferable.
LINE OF BUSINESS
Operations : Engaged in the manufacture of gelatine
capsules.
Import Countries
:
Operating Trend : Steady
Subject has a
workforce of 110 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below:
Currency:
Balance Sheet 31/12/05 31/12/06
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1 - Assets
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Cash on Hand & At Bank |
267,364 |
1,450,562 |
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Cheque under Collection |
208,311 |
12,990 |
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Receivables |
3,518,421 |
1,557,915 |
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Stock on Hand |
703,750 |
854,791 |
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Other Current Assets |
1,154,982 |
798,218 |
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Total Current Assets |
5,852,828 |
4,674,476 |
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Fixed Assets, Net
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3,546,965 |
3,559,619 |
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Investments |
3,005,645 |
3,150,282 |
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Total Assets |
12,405,438 |
11,384,377 |
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2 - Liabilities |
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The secretariats of shareholders Bottom of Form |
322,696 |
300,959 |
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Payables |
665,321 |
122,664 |
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Other Current Liabilities |
2,409,674 |
205,987 |
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Total Current Liabilities |
1,028,138 |
629,610 |
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3 - Capital and Shareholders' Equity |
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Authorized & Subscribed and Paid-up Capital |
7,062,147 |
7,062,147 |
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Issuance Allowance |
423,729 |
423,729 |
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Compulsory Reserves |
1,536,356 |
1,536,356 |
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Voluntary Reserves |
3,778,249 |
1,111,863 |
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Retained Earnings |
1,243,205 |
620,672 |
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Shareholders' Equity |
11,377,299 |
10,754,767 |
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Total Liabilities and Shareholders' Equity |
12,405,438 |
11,384,377 |
Profit & Loss Statement
Net Sales 2,235,113 2,067,483
Cost of Sales 1,898,058 1,782,126
Gross Profit 337,055 285,357
Administrative, General
and other Expenses 1,304,904 943,934
Net Operational
Income (967,849) (658,576)
Other Revenues 301,331 389,151
Net Income before
Allocations (666,518) (269,425)
Other Expenditures 33,613 0
Net Profit from
continuous activities (700,131) (269,425)
Net Profit of
ceased activities 1,920,712 0
Net Profit 1,220,581 (269,425)
Local sources
consider subject’s financial condition to be fair.
BANKERS
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Arab
Bank Plc
Shmeisani Branch
PO Box : 950545 & 950544
Tel : (962-6) 5607231 / 5607115
Fax : (962-6) 5606793 / 5606830
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Shmeisani Branch
PO Box : 926225
Tel : (962-6) 5677377
Fax : (962-6) 5666326
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1983, subject is involved in the manufacture of gelatine capsules.
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$ 100,000
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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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%)