MIRA INFORM REPORT

 

 

Report Date :

08.06.2007

 

IDENTIFICATION DETAILS

 

Name :

UNITED PHARMACEUTICALS MANUFACTURING CO LTD

 

 

Registered Office :

Khalidi Hospital Street, 3rd Circle, Jabal Amman, P O Box – 69, Amman 11591

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

08.06.1989

 

 

Com. Reg. No.:

2161, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engaged in the manufacture of pharmaceutical preparations

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 400,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

SUMMARY

 

Company Name                         : UNITED PHARMACEUTICALS MANUFACTURING CO LTD

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 8th June 1989

Commercial Registration Number            : 2161, Amman

Issued Capital                                        : JD 3,000,000

Paid up Capital                                      : JD 3,000,000

Total Workforce                                     : 230

Line of Business                                    : Manufacturers of pharmaceutical preparations.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

 

 

COMPANY NAME

 

UNITED PHARMACEUTICALS MANUFACTURING CO LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Khalidi Hospital Street

Area                 : 3rd Circle, Jabal Amman

PO Box             : 69

Town                 : Amman 11591

Country             : Jordan

Telephone         : (962-6) 4640771

Facsimile          : (962-6) 4652386

Email                : info@upm.com.jo

 

 

Premises

 

Subject operates from a medium sized suite of offices that are owned and located in the Central Business Area of Amman.

 

Branch Office (s)

 

Location                                                                                    Description

 

Al Raqeem                                                                                Factory premises

Sahab

Tel : (962-6) 4162901

Fax : (962-6) 4162905

 

 

KEY PRINCIPALS

 

Munjid Munir Sukhtian                                                    Chairman

 

Nidal Munir Sukhtian                                                      Vice Chairman  

 

Ghayyath Munir Sukhtian                                               Director

 

Marlin Nicola Sukhtian                                                    Director

 

Rana Nidal Sukhtian                                                       Director

 

Dima Nidal Sukhtian                                                       Director

 

Dara Nidal Sukhtian                                                       Director

 

Onoud Nidal Sukhtian                                                     Director

 

Jamil Al Khateeb                                                            Finance Manager

 

Rashad Arafat                                                                Factory Manager

 

Mohamed Al Agbar                                                        Technical Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 8th June 1989

 

Legal Form                  : Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company)

 

Commercial Reg. No.  : 2161, Amman

 

Issued Capital              : JD 3,000,000

 

Paid up Capital            : JD 3,000,000

 

 

Name of Shareholder (s)              Percentage

 

Munjid Munir Sukhtian                                                                                                    33.3%

 

Ghayyath Munir Sukhtian                                                                                               33.3%

 

Nidal Munir Sukhtian                                                                                                      5.5%   

 

Marlin Nicola Sukhtian                                                                                                    5.5%

 

Rana Nidal Sukhtian                                                                                                       5.5%

 

Dima Nidal Sukhtian                                                                                                       5.5%

 

Dara Nidal Sukhtian                                                                                                       5.5%

 

Onoud Nidal Sukhtian                                                                                                     5.5%

 

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.

 

 

LINE OF BUSINESS

 

Operations                   : Engaged in the manufacture of pharmaceutical preparations.

 

Import Countries          : Germany, Belgium, France, Italy and the United Kingdom.

 

International Suppliers :

 

Astra                Romania

Hiba Drugstore   Sudan

U Carbon           Austria

 

Operating Trend          : Steady

 

Subject has a workforce of 230 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 Revenue                                        JD 10,416,137                                       JD 10,628,711

 

Total Assets                                          JD   8,191,193                                       JD   7,935,380

 

Stock                                                    JD   1,771,290                                       JD   1,912,993

 

Local sources consider subject’s financial condition to be Fair.

 

 

BANKERS

 

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

 

Opinion on the credit figure of US$ 150,000:

 

Established in 1989, subject is owned and managed by members of the Sukhtian family who are well respected in the local business community.

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

Maximum suggested credit figure: US$ 400,000

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions