MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL RAHMA
PHARMACEUTICAL COMPANY LTD |
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Registered Office : |
Al Sharee’ah
College Street, Jabal Al Luweibdeh, P O Box 9415, Amman 11191 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
15th September 1993 |
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Com. Reg. No.: |
3976, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture
of pharmaceutical preparations and hospital detergents. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL RAHMA PHARMACEUTICAL COMPANY LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Start Date : 15th September 1993
Registration Date : 10th October 1995
Commercial Registration Number : 3976, Amman
Issued Capital : JD 500,000
Paid up Capital : JD 500,000
Total Workforce : 300
Line of Business : Manufacturers of pharmaceutical preparations and hospital detergents.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL RAHMA PHARMACEUTICAL
COMPANY LTD
ADDRESS
Registered & Physical Address
Street : Al Sharee’ah College Street
Area : Jabal Al Luweibdeh
PO Box : 9415
Town : Amman 11191
Country : Jordan
Telephone : (962-6) 4653280
Facsimile : (962-6) 4653284
Email : rah@hilwani.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
·
King Abdullah the
2nd Industrial Estate Factory
premises
Street H
Sahab
Tel
: (962-6) 4026383
Fax
: (962-6) 4026383
KEY PRINCIPALS
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Taisir Mustafa
Hilwani Managing
Director
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Hiba Shaikh
Ardh Director
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Atiyat Mohamed
Yousef Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 15th
September 1993 as a general partnership, however on 10th October
1995
subject re-registered as a Limited Liability Company.
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited
Liability Company)
Commercial Reg. No. : 3976, Amman
Issued Capital : JD 500,000
Paid up Capital : JD 500,000
Name of Shareholder
(s) Percentage
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Taisir Mustafa
Hilwani 93%
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Hiba Shaikh
Ardh 7%
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 and hospital detergents.
Import Countries
: Europe
Export Countries
: Saudi Arabia, Yemen and
Iraq.
Operating Trend
: Steady
Subject has a
workforce of approximately 300 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 4,462,920 JD
4,604,600
Total Assets JD 1,410,850 JD
1,208,625
Stock JD 247,940 JD 341,637
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Jordan
National Bank
Jabal Amman Branch
PO Box : 1578
Amman 11118
Tel : (962-6) 5642391
Fax : (962-6) 5628809
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1993, subject is involved in the manufacture of pharmaceutical preparations and
hospital detergents.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 250,000
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%)