MIRA
INFORM REPORT
|
Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PHARMA
SERVICES CO LLC |
|
|
|
|
Registered Office : |
Hamad
Bin Al Sheikh Building, Zabeel Road, Karama Area,
PO Box 7543, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
31.05. 1984 |
|
|
|
|
Com. Reg. No.: |
44179,
Dubai |
|
|
|
|
Legal Form : |
Limited Liability
Company - LLC |
|
|
|
|
Line of Business : |
Import and
Distribution of Pharmaceuticals, Medicines and
Laboratory Equipment. |
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$ 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : PHARMA SERVICES CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 31st May 1984
Commercial Registration Number : 44179, Dubai
Trade Licence Number : 205121
Chamber Membership Number : 5776
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 18
Activities :
Import and distribution of pharmaceuticals, medicines
and laboratory
equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
PHARMA
SERVICES CO LLC
ADDRESS
Registered & Physical Address
Building : Hamad
Bin Al Sheikh Building
Street : Zabeel
Road
Area : Karama
Area
PO Box : 7543
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3373606
Facsimile : (971-4) 3373303
Email : pharmasc@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Dr
Hassan Al Nemer Palestinian Managing Director
·
Abdul
Rahman Abdullah Mohamed Al Jallaf Emirati Director
·
Ms
Heidi Cudal - Finance
Manager
·
Ajit
Kumar - Commercial
Manager
·
Hani
Jameel Ahmed - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 31st
May 1984
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 44179, Dubai
Trade Licence No. : 205121 (Expires 30/05/2008)
Chamber Member No. : 5776
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Abdul
Rahman Abdullah Mohamed Al Jallaf 51%
·
Dr
Hassan Al Nemer 49%
AFFILIATED COMPANIES
·
Mediserv
Agencies
Abu Dhabi
Tel: (971-2) 6423301
OPERATIONS
Activities: Engaged in the import and distribution of pharmaceuticals, medicines and laboratory equipment.
Import
Countries: Japan and the
United States of America.
Operating Trend: Steady
Subject has a
workforce of 18 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United Arab
Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh
21,850,000 UAE Dh
24,375,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Banque Paribas
PO Box : 7233
Dubai
Tel : (971-4) 2525929
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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
within subject’s financial means.
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%)