MIRA INFORM REPORT

 

 

Report Date :

21.10.2011

 

IDENTIFICATION DETAILS

 

Name :

JORDAN SWEDEN MEDICAL & STERILIZATION CO LTD

 

 

Registered Office :

Villa No. 69 Saeed Al Mufti Street Sweifieh Area PO Box  851831Amman 11185

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.04.1996

 

 

Com. Reg. No.:

4395, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of drugs, pharmaceutical preparations, herbal and health aid supplements

 

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$ 500,000

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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                                     : JORDAN SWEDEN MEDICAL & STERILIZATION CO LTD

Trading As                                             : JOSWE MEDICAL

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 1st April 1996

Commercial Registration Number            : 4395, Amman

Membership Number                              : 10562

National ID Number                                : 200005344

Issued Capital                                        : JD 7,000,000

Paid up Capital                                      : JD 7,000,000

Total Workforce                                     : 220

Activities                                               : Manufacture of drugs, pharmaceutical preparations, herbal and health aid supplements

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 500,000

Person Interviewed                                 : Ahmed Qatanani, Finance Manager

 

COMPANY NAME

 

JORDAN SWEDEN MEDICAL & STERILIZATION CO LTD

 

TRADING AS: JOSWE MEDICAL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Villa No. 69

Street               : Saeed Al Mufti Street

Area                 : Sweifieh Area

 

PO Box             : 851831

 

Town                 : Amman 11185

Country             : Jordan

 

Telephone         : (962-6) 5859765

Facsimile          : (962-6) 5814526

Email                : joswe@go.com.jo

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Amman.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Naour Area                                                                                       Factory premises

Amman

     Tel: (962-6) 5728327

     Fax: (962-6) 5728326

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mohamed Ali Mohamed Shahin                                                          Managing Director

 

·       Dr Fauzi Saleh Alawzi                                                                       Director

 

·       Khader Nasri Tarazi                                                                           Director

 

·       Ahmed Qatanani                                                                               Finance Manager

 

·       Mohamed Magdalawi                                                             Commercial Manager

 

·       Rolla Shahin                                                                                     Operations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st April 1996

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 4395, Amman

 

Membership No.          : 10562

 

National ID No.            : 200005344

 

Issued Capital              : JD 7,000,000

 

Paid up Capital            : JD 7,000,000

 

Name of Shareholder (s)

 

·       Mohamed Ali Mohamed Shahin

 

·       Dr Fauzi Saleh Alawzi

 

·       Khader Nasri Tarazi

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of drugs, pharmaceutical preparations, herbal and health aid supplements.

 

Subject has ISO 9001 as well as GMP certificates.

 

Import Countries: Europe and the United States of America

 

Export Countries: Saudi Arabia, Libya, Sudan, Yemen, Lebanon, Mauritania, Iraq, Qatar, Oman, Syria, Bahrain,

     Kuwait, Congo DC, Nigeria and Austria

 

Operating Trend: Steady

 

Subject has a workforce of approximately 220 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Jordanian Dinars (JD)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                JD 11,280,000                           JD 12,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Ahmed Qatanani, Finance Manager

 

 

BANKERS

 

·       Export & Finance Bank

PO Box: 941283

     Amman 11194

     Tel: (962-6) 5100200

     Fax: (962-6) 5695942

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              September 2006                                   June 2007

Credit amount                                        150,000                                     150,000

Amount overdue                         0                                                          0

Payment terms                                      60 days                                                 60 days

Payment Method                                   Letters of Credit                                     Letters of Credit

Paying record                                        No Complaints                                       No Complaints

Currency                                               US Dollars                                             US Dollars

 

 

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.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.71

UK Pound

1

Rs.78.08

Euro

1

Rs.68.05

 

 

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.