MIRA INFORM REPORT

 

 

Report Date :

20.06.2007

 

IDENTIFICATION DETAILS

 

Name :

JORDAN SWEDEN MEDICAL & STERILIZATION CO LTD

 

 

Registered Office :

Jerusalem Street, Naour, P O Box 851831, Amman 11185

 

 

Country :

Jordan

 

 

Date of Incorporation :

1st April 1996

 

 

Com. Reg. No.:

10562, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engaged in the manufacture of drugs, pharmaceutical preparations, herbal and health aid supplements.

 

 

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$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                         : JORDAN SWEDEN MEDICAL & STERILIZATION CO LTD

Trading As                                             : JOSWE MEDICAL

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 1st April 1996

Commercial Registration Number            : 10562, Amman

Issued Capital                                        : JD 150,000

Paid up Capital                                      : JD 150,000

Total Workforce                                     : 100

Line of Business                                    : Manufacturers of drugs, pharmaceutical preparations, herbal

                                                  and health aid supplements.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

JORDAN SWEDEN MEDICAL & STERILIZATION CO LTD

 

 

TRADING AS

 

JOSWE MEDICAL

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Jerusalem Street

Area                 : Naour

PO Box             : 851831

Town                 : Amman 11185

Country             : Jordan

Telephone         : (962-6) 5859765 / 5814526 / 5728327 / 5812748

Facsimile          : (962-6) 5728326 / 5816053

Email                : joswe@go.com.jo

 

 

Premises

 

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

 

 

KEY PRINCIPALS

 

·       Mohamed Ali Mohamed Shahin                                                          Managing Director

 

·       Dr Fauzi Saleh Alawzi                                                                       Director

 

·       Khader Nasri Tarazi                                                                           Director

 

·       Dr Samir Najjar                                                                                 Technical Manager

 

·       Dr Asa’ad A Shahin                                                                           Production Manager

 

·       Dr Amjad Zmaili                                                                                Marketing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st April 1996

 

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

 

Commercial Reg. No.  : 10562, Amman

 

Issued Capital              : JD 150,000

 

Paid up Capital            : JD 150,000

 

 

Name of Shareholder (s)

 

·       Mohamed Ali Mohamed Shahin

 

·       Dr Fauzi Saleh Alawzi

 

·       Khader Nasri Tarazi

 

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 drugs, pharmaceutical preparations, herbal and health aid supplements.

 

Import Countries : Europe and the United States of America.

 

Subject has a workforce of 100 employees.

 

 

FINANCIAL HIGHLIGHTS

 

Companies registered in Jordan are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Export & Finance Bank

PO Box : 941283

     Amman

     Tel : (962-6) 5100200

     Fax : (962-6) 5695942

    

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                                 September 2006

Credit amount                                        150,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 150,000

 

Established in 1996, subject is involved in the manufacture of drugs, pharmaceutical preparations, herbal and health aid supplements.

 

According to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The company’s operating history is reportedly clear and the above credit figure is considered to be within subject’s financial means.

 

Maximum suggested credit figure: US$ 150,000

 

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