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MIRA
INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
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Name : |
THE ARAB PESTICIDES & VETERINARY DRUGS MANUFACTURING LTD
(MOBEEDCO) |
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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 : |
1991 |
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Com. Reg. No.: |
366 |
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Legal Form : |
Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company) |
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Line of Business : |
Engaged in the production of agricultural pesticides and veterinary
products |
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$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company
Name :
THE ARAB PESTICIDES & VETERINARY DRUGS MANU. LTD (MOBEEDCO)
Country of Origin :
Legal Form :
Limited Liability Company
Registration Date :
1991
Commercial Registration Number :
366
Issued Capital :
JD 400,000
Paid up Capital :
JD 400,000
Total Workforce :
150
Line of Business :
Producers of agricultural pesticides and veterinary products.
Financial Condition :
Fair
Payments :
Regular
Operating Trend :
Steady
COMPANY NAME
THE ARAB PESTICIDES & VETERINARY DRUGS MANUFACTURING LTD (MOBEEDCO)
ADDRESS
Registered & Physical Address
Street :
Area : Al Hassan
Industrial City
PO Box : 45
Town : Irbid 21467
Country :
Telephone : (962-2) 7395266
/ 7395195
Facsimile : (962-2)
7395260
Email : mobedco@nol.com.jo
Premises
Subject operates from a medium size suite of offices and production facilities
that are owned and located in the Industrial Area of Irbid.
Branch Office (s)
Location Description
Fairdous Commercial Complex, 1st Floor Rented office premises
PO Box: 930103
Tel : (962-6) 5512389 / 5354191 / 468543
Fax : (962-6) 5512359 / 5354949 / 4685439
KEY PRINCIPALS
Mohamed Aqel Awais Managing
Director
Sameer Aqel Awais Director
Yousef Ibrahim Abu Jameel Director
Abdul Qader Al Azzah Director
Khalid Biytar General
Manager
Ahmed Hamoudah Commercial
Manager
Rabab El Henky Production
Manager – Veterinary
Ziyad Alwadi Production
Manager – Pesticides
LEGAL FORM &
OWNERS
Date of Establishment : 1991
Legal Form : Sharikat Thet Massouliya
Mahdoudeh (Limited Liability Company)
Commercial Reg. No. : 366
Issued Capital : JD 400,000
Paid up Capital : JD 400,000
Name of Shareholder
(s)
Mohamed Aqel Awais
Sameer Aqel Awais
Yousef Ibrahim Abu Jameel
Abdul Qader Al Azzah
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 production of agricultural
pesticides and veterinary products. When subject was first established it
specialised in the production of only agricultural pesticides but later expanded
into veterinary products. It operates 3 factories in Irbid, one for
agricultural products, one for veterinary and the last was set up during 2002
for the production of disinfectants and injectable solutions.
- Vitamins
- Feed additives
- Anticoccidials
- Anthelmintics
- Ectoparasiticides
- Disinfectants
Agricultural
- Insecticides
- Fungicides
- Herbicides
- Acaricides
- Rodenticides
Subject was awarded the
ISO9002 certificate for the quality of its products in 1994.
Import Countries : Europe and the
Export Countries :
and
Operating Trend : Steady
Subject has a workforce of approximately 150 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
4,175,000 JD
4,500,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Arab Bank Plc
PO Box : 16
Irbid
Tel : (962-2) 7242251
Fax : (962-2) 7277596
Jordan National Bank
Jabal
PO Box : 1578
Tel : (962-6) 5642391
Fax : (962-6) 5628809
PAYMENT HISTORY
Subject’s payment record is reported to be met in a regular and timely
manner.
Date of transaction December
2001 January 2007
Credit amount 153,000 127,000
Amount overdue 0 0
Payment terms 60
days 120
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Euros Pounds
Sterling
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1991, The Arab Pesticides & Veterinary Drugs
Manufacturing Ltd (Mobeedco) has made considerable progress in the regional
market. It specialises in the production of agricultural pesticides, veterinary
products and disinfectants and injectable solutions.
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 deemed to be within subject’s financial means.
Maximum suggested credit figure: US$ 600,000
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%)