MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
JERASH PHARMACEUTICALS LTD |
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Registered Office : |
North
Marqa, PO Box 4284, Amman
11131 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
27.06.2000 |
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Com. Reg. No.: |
6230, Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of Cough Syrup and Cream for Muscle Pains |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : JERASH PHARMACEUTICALS LTD
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 27th June 2000
Commercial Registration Number : 6230, Amman
Chamber Membership Number : 17542
Issued Capital : JD 200,000
Paid up Capital : JD 200,000
Total Workforce : 35
Activities : Manufacture of cough syrup and cream for muscle pains
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
JERASH PHARMACEUTICALS
LTD
ADDRESS
Registered & Physical Address
Location : North
Marqa
PO Box : 4284
Town : Amman 11131
Country : Jordan
Telephone : (962-6) 4899395
Facsimile : (962-6) 4899394
Email : jerash@khraim.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Amman.
KEY PRINCIPALS
Name Position
·
Dr Sulaiman Lotfy Khraim Managing
Partner
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Abdulrahman
Sulaiman Lotfy Khraim Partner
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Samer
Sulaiman Lotfy Khraim Partner
LEGAL FORM & OWNERS
Date of Establishment : 27th
June 2000
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 6230, Amman
Chamber Member No. : 17542
Issued Capital : JD 200,000
Paid up Capital : JD 200,000
Name of Partner (s)
·
Dr Sulaiman Lotfy Khraim
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Abdulrahman
Sulaiman Lotfy Khraim
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Samer
Sulaiman Lotfy Khraim
OPERATIONS
Activities: Engaged in the manufacture of cough syrup
and cream for muscle pains.
Import
Countries: India and China
Brand Names: AL JIZAL
Operating Trend: Steady
Subject has a
workforce of 35 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales JD 2,200,000 JD 2,350,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)