MIRA INFORM REPORT

 

 

Report Date :

27.11.2007

 

IDENTIFICATION DETAILS

 

Name :

OMAN PHARMACEUTICAL PRODUCTS CO. LLC

 

 

Registered Office :

Ajay Ent Building, Way No. 5229, Al Wadi Al Kabir, PO Box 54 & 1885 Muscat 113

 

 

Country :

Sultanate of Oman

 

 

Date of Incorporation :

21.08.2001

 

 

Com. Reg. No.:

2152460

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Producers 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 $ 200,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

SUMMARY

 

Company Name                         : OMAN PHARMACEUTICALS PRODUCTS CO LLC

Country of Origin                                    : Sultanate of Oman

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 21st August 2001

Commercial Registration Number            : 2152460

Membership Number                              : 244

Issued Capital                                        : RO 150,000

Paid up Capital                                      : RO 150,000

Total Workforce                                     : 250

Line of Business                                    : Producers of pharmaceutical preparations.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

COMPANY NAME

 

OMAN PHARMACEUTICALS PRODUCTS CO LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Ajay Ent Building, Way No. 5229, Al Wadi Al Kabir

PO Box             : 54 & 1885

Town                 : Muscat 113

Country             : Sultanate of Oman

Telephone         : (968-24) 502415 / 502315 / 815486

Facsimile          : (968-24) 502297 / 815490

Email                : ajayentp@omantel.net.om

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Muscat.

 

Branch Offices

 

Subject has a factory located in Salalah.

 

 

KEY PRINCIPALS

 

 

Name                                                     Nationality                                Position

 

Abdullah Abbass Bin Ahmed                      Omani                                   Managing Director

 

Sujay Hamla                                                Indian                                 Director

 

Rajendra H Bhandari                                       -                                      General Manager

 

Berjall Mafwanai                                              -                                      Factory Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21st August 2001

 

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

 

Commercial Reg. No.  : 2152460

 

Membership No.          : 244

 

Issued Capital              : RO 150,000

 

Paid up Capital            : RO 150,000

Name of Shareholder (s)

 

Abdullah Abbass Bin Ahmed

 

Sujay Hamla

 

Non Omani Participation

The participation of non-Omani nationals in a trade or business in Oman is governed by the Foreign Business Investment Law, which sets capital requirements and requires 35 % Omaniparticipation in capital and profits.

 

Note to the Legal Form  

The Limited Liability Company (LLC), or private company, is the form of business entity usually chosen by foreign investors. It may be formed by a minimum of 2 and a maximum of 30 natural or legal persons, whose liability is limited to their shares in the company’s capital. The minimum capital of a Limited Liability Company with foreign ownership should be RO 150,000, although this may be reduced to a minimum of RO 30,000 with the approval of the Minister of Commerce and Industry. For a company wholly owned by Omani nationals, the minimum capital is RO 10,000.

 

Contributions to capital may be made in cash of kind. Capital may not be increased by public subscription. The full amount of the share value must be paid in on subscription. Shares may not be assigned to a non-member, unless the other existing members are granted a pre-emptive right to purchase the shares.

 

 

LINE OF BUSINESS

 

Operations : Engaged in the production of pharmaceutical preparations.

 

                      Subject is regulated by the Gulf Council Commission Drug Regulators.        

 

Subject has a workforce of approximately 250 employees.

 

 

FINANCIAL HIGHLIGHTS

 

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

 

 

BANKERS

 

Commercial Bank of Dubai

Baniyas Street

PO Box : 1709

Deira

Dubai

Tel : (971-4) 2227121 / 2253222

Fax : (971-4) 2220943 / 2254565

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

GENERAL COMMENTS

 

Established in 2001, subject is involved in the production of pharmaceutical preparations.

 

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$ 200,000

 

 

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.

 

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