MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
MIDDLE EAST PHARMACEUTICAL & CHEMICAL INDUSTRIES & MEDICAL APPLIANCES CO LTD |
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Registered Office : |
Baqaa Area,
Mobis, PO Box 1063, Amman 11821 |
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Country : |
Jordan |
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Date of Incorporation : |
01.07.1993 |
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Com. Reg. No.: |
231, Amman |
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Legal Form : |
Public Shareholding Company |
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Line of Business : |
Manufacture of
Medical Supplies and Drugs |
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$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MIDDLE EAST PHARMACEUTICAL & CHEMICAL INDUSTRIES &
MEDICAL APPLIANCES CO LTD
Doing Business As : MIDPHARMA
Country of Origin : Jordan
Legal Form : Public Shareholding Company
Registration Date : 1st July 1993
Commercial Registration Number : 231, Amman
Issued Capital : JD 9,500,000
Paid up Capital : JD 9,500,000
Total Workforce : 250
Activities : Manufacture of medical supplies and drugs
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
MIDDLE EAST
PHARMACEUTICAL & CHEMICAL INDUSTRIES & MEDICAL APPLIANCES CO LTD
DOING BUSINESS
AS: MIDPHARMA
ADDRESS
Registered & Physical Address
Location : Baqaa Area, Mobis
PO Box : 1063
Town : Amman 11821
Country : Jordan
Telephone : (962-6) 5865842
/ 5852470
Facsimile : (962-6) 5852473
Email : info@midpharma.com
Premises
Subject operates
from a suite of offices, a factory and warehousing covering an area of 12,000
square metres that are owned and located on the outskirts of Amman.
Branch Office
(s)
Location Description
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Amman Airport
Street Rented
sales office
7th Circle, Jabal Amman
Amman
Tel: (962-6) 4726723 / 4794444
Fax: (962-6) 4725154
KEY PRINCIPALS
Name Position
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Mazin
Hamza Tantash Chairman
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Khalid
Abdul Karim Al Dahla Vice
Chairman
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Zkrya
Abokhlaf Director
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Jameel
A. Jobran Director
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Khalil
Anzouqah Director
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Mahmoud
Zaher Finance
Manager
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Akram
Shrem Production
Manager
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Adli
El Sayed Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
July 1993 (Production began in October 1997)
Legal Form :
Public Shareholding Company
Commercial Reg. No. : 231, Amman
Industrial Licence No. : 5298/80/45/319
Issued Capital : JD 9,500,000
Paid up Capital : JD 9,500,000
Name of Shareholder (s)
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Mazin
Hamza Tantash
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Khalid
Abdul Karim Al Dahla
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Zkrya
Abokhlaf
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Jameel
A. Jobran
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Khalil
Anzouqah
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Housing Bank
Parliament Street
PO Box : 7693
Amman
Tel : (962-6) 5667126
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Members of the
general public & private investors
OPERATIONS
Activities: Engaged in the
manufacture of medical supplies and drugs, including antibiotics,
analgesics-antipyretics, vitamins, haematinics, cardiovascular preparations,
hypoglycemics, antiulcerants, and antifungals.
Subject is ISO 9001:2000
certified.
Import
Countries: Germany, France,
Italy and the United Kingdom
Subject has a
workforce of approximately 250 employees.
FINANCIAL DATA
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
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Arab Bank Plc
Shmeisani Branch
PO Box : 950545 & 950544
Amman 11195
Tel : (962-6) 5607231 / 5607115
Fax : (962-6) 5606793 / 5606830
Email : secretariat@arabbank.com.jo
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Housing Bank
Parliament Street
PO Box : 7693
Amman
Tel : (962-6) 5667126
Acc No. 027 042278-01
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Union Bank for
Saving & Investment (UBSI)
Chamber of Commerce Building
Shmeisani
PO Box : 35104
Amman
Tel : (962-6) 5666148 / 5666170 / 5666171 /
5675558
Fax : (962-6) 5666149
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction October 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
Established in
1993, Middle East Pharmaceutical & Chemical Industries & Medical
Appliances Co Ltd is a leading manufacturer of medical supplies and drugs in Jordan.
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 deemed to be admissible.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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. |
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%)