MIRA INFORM REPORT

 

 

Report Date :

23.02.2011

 

IDENTIFICATION DETAILS

 

Name :

PHARMA MONDIAL LTD

 

 

Registered Office :

30 Cihangir Koyu Yani, Magusa Anayolu, Lefkosa

 

 

Country :

Cyprus

 

 

Year of Establishment :

1991

 

 

Com. Reg. No.:

3709

 

 

Legal Form :

Ltd Company

 

 

Line of Business :

manufacturer of pharmaceutical Products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Cyprus

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY NAME 

 

PHARMA MONDIAL LTD

 

IDENTIFICATION DETAILS                    

 

ADDRESS:               30 CIHANGIR KOYU YANI                                    

                               MAGUSA ANAYOLU                                            

                               LEFKOSA                                                  

                               TURKISH REPUBLIC OF NORTHERN CYPRUS                      

 

TELEPHONE:          90392  2324180                                           

TELEFAX:                90392  2324175     

E-MAIL:                   Pharmamondial1@superonline.com   

WEBSITE:               www.pharma-mondial.net

 

 

SENIOR COMPANY PERSONNEL

Dr. Feridun Adahan D.V.M , A.T.V.M (Edinburgh)

Managing Director

Pharmamondial1@superonline.com

 Mrs Ozlem .A. Asvaroglu

Administration Manager

pharmamondial@superonline.com

 Dervish Somuncuoglu

Production Manager

 dervissomuncu@yahoo.com

 Miss Emine Yorganci

Quality Control

emineyorganci@gmail.com

 

Steve James

Buisness Development Manager

Pharmamondial3@superonline.com

Nihat Sengul

QA Manager

nihats@gmx.net  

Mehmet Sporcuoglu

Accounting manager

 

WORKFORCE

 

40 (Approximately)

 

 

PAYMENTS

 

No complaints concerning subject's payments have been reported.

 

 

RATINGS

 

Nill Rating

 

 

LEGAL STATUS

 

Ltd sirketi registered on Mar 15, 1990 in Lefkosia. 
 
Registration Number: 3709

 

 

SHAREHOLDERS

 

Ferudun Adahan is a principal shareholder.

 

LINKED COMPANIES

 

“PHARMA MONDIAL LTD” - Pharma Mondial is registered in the UK as a pharmaceutical company and distributes its products in the British market. (Dissolved (since 29/08/2006).

 

“PHARMA MONDIAL LTD” - The company is registered in Turkey and has been approved by the local Ministry of Health. Pharma Mondial is present on the Turkish market with a number of pharmaceutical preparations.

 

 

ACTIVITIES

 

PHARMA MONDIAL is a leading manufacturer of pharmaceuticals, established in 1991 in North Cyprus. The subject engages in the manufacturing of pharmaceutical products with the highest standards of Good Manufacturing Practice (GMP).

 

Its products are also distributed in Turkey, Great Britain and Germany.

 

The subject’s main product groups are:

·         Analgesics, Antipyretic, Anti-inflammatory

·         NSAIDs 

·         Antipsychotics

·         Anticoagulants, Antithrombotics

·         Antihypertensives, ACE inhibitors

·         Beta-adrenoceptor Blocking Agents

·         Diuretics

·         Antiprotozoal & Antibacterial

·         Nutritional Agents & Vitamins

·         Laxatives

·         Gastro – intestinal

·         Anti-allergics

·         Antibacterial: Fluoroquinolone

·         Antobiotics: Macrolide

 

 

EXPORTS

 

The subject exports to Turkey, Great Britain and Germany.

 

The Pharma Mondial medicine plant is exporting medicine to the Caucasian countries, Africa and Britain.

 

 

PREMISES / REAL ESTATE

 

SOURCE: UNOFFICIAL INTERNET SOURCES

 

The company operates a modern plant located in North Cyprus. The facility, designed by internationally recognised experts from the UK, Germany and Turkey, conforms to the very stringent European and Turkish licensing requirements.

The facilities are designed to manufacture pharmaceuticals in solid, liquid and topical dosage forms.

Currently the annual capacity of the plant with present machinery on a one shift basis is:

Tablets - 600 million

Liquids - 525,000 liters

Semi Solids - 62,500 Kilos

Granules - 80,000 Kilos

The plant can produce most types of tablets uncoated, sugar coated or film coated by direct compression, dry or wet granulation.

 

GENERAL COMMENTS 

 

Mr Mehmet Sporcuoglu, accounting manager, could not supply any info. The information provided in this report was obtained through desk research.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.20

UK Pound

1

Rs.73.07

Euro

1

Rs.61.41

 

 

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

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

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.