MIRA INFORM REPORT

 

 

Report Date :           

05.10.2011

 

IDENTIFICATION DETAILS

 

Name :

PHARMA INTERNATIONAL CO (PIC)

 

 

Registered Office :

Abu Al Haj Building, Al Jubaiha Area, P O Box 334, Amman 11941

 

 

Country :

Jordan  

 

 

Date of Incorporation :

02.01.1994

 

 

Com. Reg. No.:

3400, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture and marketing of pharmaceuticals

 

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$ 300,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Jordan

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                         : PHARMA INTERNATIONAL CO (PIC)

Also Known As                                      : PHARMATEC INTERNATIONAL CO

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 2nd January 1994

Commercial Registration Number            : 3400, Amman

Chamber Membership Number                : 108000

National ID Number                                : 20009818

Issued Capital                                        : JD 288,016,000

Paid up Capital                                      : JD 288,016,000

Total Workforce                                     : 770

Activities                                               : Manufacture and marketing of pharmaceuticals.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 300,000

Person Interviewed                                 : Thamer Haddad, Planning Manager

 

 

 

COMPANY NAME

 

PHARMA INTERNATIONAL CO (PIC)

 

 

ALSO KNOWN AS

 

PHARMATEC INTERNATIONAL CO

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Abu Al Haj Building

Area                 : Al Jubaiha Area

PO Box             : 334

Town                 : Amman 11941

Country             : Jordan

Telephone         : (962-6) 5336502 / 5150581 / 5158890 / 5150580 / 5150580 / 5157893 / 5154296

Facsimile          : (962-6) 5339163 / 5160865 / 5150583 / 5154783

Email                : ipcc@go.com.jo / riuad-abuhaj@pic-jo.com / marketing@pic-jo.com

 

Premises

Subject operates from a medium sized suite of offices that are owned and located in the Suburban Business Area of Amman.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Qastel Area                                                                                      Owned manufacturing plant

Amman

     Tel: (962-6) 4711585 / 4711586 / 4440585 / 4440586 / 4792222

     Fax: (962-6) 4711803 / 4711584

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Ali Mohamed Hussain Abu Al Haj                                                       Managing Director

 

·       Riuad Ali Mohamed Hussain Abu Al Haj                                              Director

 

·       Osama Ali Mohamed Hussain Abu Al Haj                                            Director

 

·       Sahr Ali Mohamed Hussain Abu Al Haj                                               Director

 

·       Ahlam Ali Mohamed Hussain Abu Al Haj                                             Director

 

·       Gadeer Ali Mohamed Hussain Abu Al Haj                                            Director

 

·       Samar Ali Mohamed Hussain Abu Al Haj                                             Director

 

·       Raed Omar Mohamed Hussain Abu Al Haj                                          Director

 

·       Khalid Mohamed Hussain Abu Al Haj                                                  Director

 

·       Paul Glover                                                                                       General Manager

 

·       Gamal Al Refai                                                                                  Production Manager

 

·       Dr Nasser Al Hamawi                                                                        Marketing Manager

 

·       Thamer Haddad                                                                                 Planning Manager

 

·       Alaa Hafez                                                                                        Commercial Manager

 

·       Omar Al Hoor                                                                                    Factory Manager

 

·       Yousef Al Zaghari                                                                              Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2nd January 1994

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 3400, Amman

 

Chamber Member No. : 108000

 

National ID No.            : 20009818

 

Issued Capital              : JD 288,016,000

 

Paid up Capital            : JD 288,016,000

 

Name of Shareholder (s)

 

·       Ali Mohamed Hussain Abu Al Haj

 

·       Riuad Ali Mohamed Hussain Abu Al Haj

 

·       Osama Ali Mohamed Hussain Abu Al Haj

 

·       Sahr Ali Mohamed Hussain Abu Al Haj

 

·       Ahlam Ali Mohamed Hussain Abu Al Haj

 

·       Gadeer Ali Mohamed Hussain Abu Al Haj

 

·       Samar Ali Mohamed Hussain Abu Al Haj

 

·       Raed Omar Mohamed Hussain Abu Al Haj

 

·       Khalid Mohamed Hussain Abu Al Haj

 

 

OPERATIONS

 

Activities: Manufacture and marketing of pharmaceuticals, including antibiotics, cephalosporin and noncephalosporin, antifungals, cardiovascular, nervous system, iron preparations and dermatological preparations under license from Schein Pharmaceuticals of the USA.

 

                 Subject is ISO 9001 accredited.

 

Import Countries: The United States of America, Switzerland, France and Germany.

 

Export Countries: Iran, the Middle East, Africa and Russia.

 

Subject has a workforce of approximately 770 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

 

·       Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

 

·       HSBC Bank Middle East

Khalid Bin Walid Street

Jebel Hussein

PO Box: 925286

Amman

Tel: (962-6) 5660471 / 5607471

Fax: (962-6) 5692964

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              June 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

 

Pharma International Co (PIC) is engaged in the manufacture and marketing of pharmaceuticals. It has recently signed a licensing agreement with Schein Pharmaceuticals of the USA.

 

Local sources report that subject is making good progress in the regional pharmaceutical industry and is under the direction of a professional management team.

 

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.49.23

UK Pound

1

Rs.76.07

Euro

1

Rs.65.06

 

 

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

----

NB

New Business

----

 

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.