MIRA INFORM
REPORT
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Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
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Name : |
TADAWI HEALTHCARE CO |
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Registered Office : |
Exit No 14, Rabwah District, |
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Country : |
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Year of Establishment : |
2005 |
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Com. Reg. No.: |
1010215975, Riyadh |
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Legal Form : |
Closed Joint Stock Company |
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Line of Business : |
Wholesalers
and retailers of
pharmaceuticals and personal care products |
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No. of Employees
: |
1,900 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 3,000,000 |
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Status : |
Good |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Saudi Arabia
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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 : TADAWI HEALTHCARE CO
Country of Origin : Saudi Arabia
Legal Form : Closed Joint Stock Company
Start Date : 2005
Registration Date : 7th February 2006
Commercial Registration Number : 1010215975,
Chamber Membership Number : 161612
Issued Capital : SR 1,000,000,000
Paid up Capital : SR 1,000,000,000
Total Workforce : 1,900
Activities :
Wholesalers and retailers of
pharmaceuticals and personal care
products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 3,000,000
Person Interviewed : Samir Abdulrahman Othman Al Tuwarqi, Administration Manager
TADAWI HEALTHCARE
CO
Registered &
Physical Address
Location : Exit No
14, Rabwah District
PO Box : 64760
& 27154
Town : Riyadh 11546
Country : Saudi Arabia
Telephone : (966-1) 2549162 / 2708171
Facsimile : (966-1) 4715671 / 2702824
Email : saltuwrgi@tadawigroup.com / info@tadawigroup.com
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Central Business Area of Riyadh.
Branch Office (s)
Subject has over 500 stores located throughout Saudi Arabia.
Name Position
·
Dr Ali Al Mofadhi Chairman
·
Bandr Al Momen Chief
Information Officer
·
Fuhaid Al Anazi General
Manager
·
Raed Abdullah Ismail Abdul Ghani Finance
Manager
·
Samir Abdulrahman Othman Al Tuwar Administration
Manager
·
Abdulrahman Al Sane R Manager
·
Karim Bashti Supply
Chain Manager
·
Alaa Shehata Retail Manager
Date of Establishment : 2005, however
subject was registered on 09/01/1427 Hijri (corresponding to
7th February 2006).
Legal Form :
Closed Joint Stock Company
Commercial Reg. No. : 1010215975, Riyadh
Chamber Member No. : 161612
Issued Capital : SR 1,000,000,000
Paid up Capital : SR 1,000,000,000
Name of
Shareholder (s)
·
Abraaj Capital Ltd
Riyadh
·
Dr Ali Al Mufaddi
·
Ahmad Alsane
·
Fahaid Alunaizi
·
Dr Khaled Abdullah Abanumay
·
Fahad Al Dukhayel
·
Khalid Al Mugairen
·
Saudi businessmen & private investors
Activities: Engaged in the wholesale and retail of pharmaceuticals and personal care
products.
Import Countries: Europe and GCC countries.
Subject has a
workforce of approximately 1,900 employees.
Companies
registered in Saudi Arabia are not legally required to make their accounts public
and no financial information was released by the company or submitted by
outside sources.
·
National
Commercial Bank
Malaz Branch
PO Box: 42536
Tel: (966-1) 4776450
Fax: (966-1) 4769502
No complaints regarding
subject’s payments have been reported.
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 |
|
US Dollar |
1 |
Rs.51.66 |
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UK Pound |
1 |
Rs.81.80 |
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Euro |
1 |
Rs.67.18 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.