MIRA INFORM REPORT
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Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
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Name : |
SAM ON PHARMACEUTICAL CHEMICAL AND COSMETIC
LABORATORY LTD. |
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Registered Office : |
P.O. Box 1224, Bat Yam (59112), 25 Haavoda Street, Ramot Yam, Industrial Zone, Bat Yam 59602 |
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Country : |
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Date of Incorporation : |
22.03.1945 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Developers, manufacturers and marketers of pharmaceuticals and OTC 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$ 250,000. |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
SAM ON PHARMACEUTICAL CHEMICAL AND COSMETIC
LABORATORY LTD.
(Also known as
“MEDITEC”)
Telephone 972 3 555 57 00
Fax 972 3 552 64 53
Industrial Zone
BAT YAM 59602 -
HISTORY & LEGAL FORMATION
A private limited company, incorporated as per file No. 51-002656-0 on
the 22.03.1945.
SHARE CAPITAL
Authorized share capital
3,000
founder shares,
3 deferred shares,
29,996,997
ordinary shares, all of
fully issued.
SHAREHOLDERS
1. Arieh Zolotariov,
2.
Chemistro Ltd., holding 3
deferred shares, owned by Arieh
Zolotariov.
SOLE DIRECTOR & CHAIRMAN
Arieh Zolotariov.
JOINT GENERAL MANAGERS
· Dr. Eyal Zolotariov,
· Zvi (Zviki) Zolotariov.
BUSINESS
Developers, manufacturers and marketers of pharmaceuticals and OTC drugs, using the trade name “Meditec”.
Also importers and
traders in raw material for of pharmaceutical manufacturing.
Manufacturing is
also by sub-contractors abroad.
All sales are
local.
Amongst clients
are healthcare insurance funds, large retail pharmacy chains, pharmacies and
supermarket chains, among them: CLALIT HEALTH SERVICES, NEW PHARM, SUPER PHARM,
Purchasing raw
materials for production from import and from local suppliers.
Amongst local
suppliers: FRUTAROM, A. SHEITZER, ZIFRONI CHEMICALS, MERCURY SCIENTIFIC &
INDUSTRIAL PROD
Operating from premises
(main offices and plant), owned by the shareholders, on an area of 2,000 sq.
meters, in 25 Haavoda Street as well as 2 rented warehouses on a total area of
2,000 sq. meters, in 23 and 27 Haavoda Street, Industrial Zone, Ramot Yam, Bat
Yam, and from a logistics center and marketing office, on an area of 1,200 sq.
meters (owned by shareholders), in 9 Hagranit Street, Industrial Park,
Caesarea.
Having in all 95
employees (had
MEANS
Current stock is
valued at
Property owned by
the shareholders in Bat Yam Industrial Area (where subject is operating from)
is valued at
There are 3
charges for unlimited amounts registered on the company's assets, in favor of
Bank Hapoalim Ltd. and Israel Discount Bank Ltd. and Bank Leumi Le'Israel Ltd.
ANNUAL SALES
2005 sales claimed
to be
2006 sales claimed
to be
2007 sales claimed
to be
2008 sales claimed
to be
2009 sales claimed
to be
2010 sales claimed
to be
OTHER COMPANIES
Also owned by Arieh Zolotariov:
· Chemistro Ltd.
· SAM ON REAL ESTATE LTD., a real estate company.
BANKERS
Bank Hapoalim
Ltd., Bat Yam Branch (No. 642),
Israel Discount
Bank Ltd., Ramla Branch (No. 043), Ramla, account No. 525626.
A check with the
Central Banks’ database did not reveal any negative information regarding
subject’s a/m accounts.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject is a long
established company, well known in its branch.
Subject meets the
GMP standards by the Ministry of Health.
In July 2003, it
was reported that subject invested US$ 3 million in re-organization,
re-branding, new equipment and hiring new professional senior staff.
Recently we
received a very favorable supplier opinion on subject.
Accountant in ZIFRONI CHEMICALS informed us they supply subject raw
materials for drugs manufacturing. They have been working with subject over 15
years, credit terms current + 60 days, sell them annually in volume of
Sales by local
Pharmaceutical Industries have been constantly growing, reaching total sales of
US$ 5,500 million in 2008, of which US$ 4,969.5 million were for export to over
120 countries (in 2008 export rose 37% from 2007). Products included drugs, raw
materials for medicine production, veterinary medication. Sales for export
account for US$ 5 billion.
The Israeli market
for pharmaceuticals was estimated at US$ 1,600 million in 2008, of which US$
1,124 million for human consumption (including from import).
The
non-prescription drugs market in
There are some 13
generic pharmaceutics production companies in
SUMMARY
Good for trade engagements.
Maximum unsecured
credit recommended US$ 250,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.11 |
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1 |
Rs.73.25 |
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Euro |
1 |
Rs.61.70 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.