MIRA
INFORM REPORT
|
Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MEDICAL BAHRI COMPANY FOR PHARMACEUTICAL & CONSTRUCTION INDUSTRIES |
|
|
|
|
Registered Office : |
Airport Road, 7th
Bridge, Mansoura Area, P O Box 30555,
Damascus |
|
|
|
|
Country : |
Syria |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
23.12.1989 |
|
|
|
|
Com. Reg. No.: |
1166, Damascus |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Manufacture of pharmaceutical products and 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$ 500,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : MEDICAL BAHRI COMPANY FOR PHARMACEUTICAL &
CONSTRUCTION INDUSTRIES
Country of Origin : Syria
Legal Form : General Partnership
Registration Date : 23rd December 1989
Commercial Registration Number : 1166, Damascus
Chamber Membership Number : 11074
Partners Capital : SY Pnds 45,000,000
Total Workforce : 205
Activities : Manufacture of pharmaceutical products and preparations
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
MEDICAL BAHRI
COMPANY FOR PHARMACEUTICAL & CONSTRUCTION INDUSTRIES
ADDRESS
Registered &
Physical Address
Street : Airport Road, 7th
Bridge
Area : Mansoura
Area
PO Box : 30555
Town : Damascus
Country : Syria
Telephone : (963-11) 6460020 / 6460021 / 6460027
Facsimile : (963-11) 6460025
Email : mbc@mail.sy
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Damascus.
Branch Office
(s)
Location Description
·
Baghdad
Street Rented
office premises
Damascus
Tel: (963-11) 3347700
Fax: (963-11)
3347703
KEY PRINCIPALS
Name Position
·
Joseph Anton
Bahri Managing
Partner
·
Ibrahim Anton
Bahri Partner
·
Ms
Ranya Philpe Sawaya Partner
·
Ms
Milya Deeb Abu Asili Partner
·
Lina
Mattar Production
Manager
·
Farooq
Bukhari Commercial
Manager
·
Dr
Ghassan Ayoub Technical
Manager
·
Hana
Hadad Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 23rd
December 1989
Legal Form :
General Partnership
Commercial Reg. No. : 1166, Damascus
Chamber Member No. : 11074
Partners Capital : SY Pnds 45,000,000
Name of Partner(s)
·
Joseph Anton
Bahri
·
Ibrahim Anton
Bahri
·
Ms
Ranya Philpe Sawaya
·
Ms
Milya Deeb Abu Asili
OPERATIONS
Activities: Engaged in the manufacture of
pharmaceutical products and preparations, including antibiotics, anti-
depresives, anti-bacterials, laxatives, antihistamines, diuretics, gastrointestinal
drugs, hypoglycaemics, amino acids, urogenitals and vitamins.
Subject is ISO 9001, 9002 and 14001 accredited.
Import
Countries: India, Hungary,
Slovenia, and France
Agencies Held:
·
LEK DD Slovenia
·
SCAT France
·
Chinoin Hungary
·
Egis Hungary
·
G Richter Hungary
·
Cipla India
·
Ranbaxy India
·
Dr Reddy’s India
Operating Trend: Steady
Subject has a
workforce of 205 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Syrian
Pounds (SY Pnds)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales SY Pnds
385,000,000 SY Pnds
410,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Bank of Syria
and Overseas
Al Najmeh Branch
Damascus
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.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.22 |
|
UK Pound |
1 |
Rs.73.03 |
|
Euro |
1 |
Rs.63.14 |
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%)