MIRA INFORM REPORT

 

 

Report Date :

25.01.2012

 

IDENTIFICATION DETAILS

 

Name :

JAZEERA PHARMACEUTICAL INDUSTRIES

 

 

Registered Office :

New Akareya Building, 2nd Floor Salah El Din Street PO Box 106229 Riyadh 11666

 

 

Country :

Saudi Arabia

 

 

Year of Establishment :

1997

 

 

Com. Reg. No.:

1010124373, Riyadh

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of pharmaceutical preparations and medical products

 

 

No. of Employees :

350

 

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$ 700,000

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)

Saudi Arabia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : JAZEERA PHARMACEUTICAL INDUSTRIES

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 1997

Commercial Registration Number            : 1010124373, Riyadh

Chamber Membership Number                : 70256

Issued Capital                                        : SR 50,000,000

Paid up Capital                                      : SR 50,000,000

Total Workforce                                     : 350

Activities                                               : Manufacture of pharmaceutical preparations and medical products

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 700,000

Person Interviewed                                 : Aaid Olayan, Planning Manager

 

COMPANY NAME

 

JAZEERA PHARMACEUTICAL INDUSTRIES

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : New Akareya Building, 2nd Floor

Street               : Salah El Din Street

 

PO Box             : 106229

 

Town                 : Riyadh 11666

Country             : Saudi Arabia

 

Telephone         : (966-1) 4788034 / 4781370

Facsimile          : (966-1) 4791097

Mobile               : (966-50) 4157056 / 5387221

Email                : info@jpi.com.sa

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Industrial Area of Riyadh.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       RP JPI Raw and Packing Warehouse                                      Owned factory premises covering an

Old Al Kharj Road                                                                             area of 15,000 square metres

3rd Industrial Zone, Exit 11

     Riyadh

     Tel: (966-1) 2142472 / 8030381 / 8030389

     Fax: (966-1) 2140855

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mazen Al Darwazah                                                                          Managing Director

 

·       Dr Ishaaq Al Hajeri                                                                            General Manager

 

·       Mohamed Mosbah                                                                             Factory Manager

 

·       Aaid Olayan                                                                                      Planning Manager

 

·       Ayad Masarwa                                                                                  Sales Manager

 

·       Kamal Saeed                                                                                    Marketing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1997

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 1010124373, Riyadh

 

Chamber Member No. : 70256

 

Issued Capital              : SR 50,000,000

 

Paid up Capital            : SR 50,000,000

 

Name of Shareholder (s)

 

·       Al Hikma Pharmaceuticals

Amman

     Jordan

     Tel: (962-6) 5802900

 

·       Abdulrahman Al Qusaibi Trading

Riyadh

     Tel: (966-1) 4793000

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceutical preparations and medical products.

 

Subject has a product range comprising more than 110 registered products, specialising in therapeutic areas, such as Anti-infectives, Musculo-skeletal, Cardiovascular, Alimentary, Respiratory, Dermatology, Genito-urinary.

 

Production Capacity:   220 million capsules per annum

                                    690 million tablets

                                    27 million suppositories

                                    16 million pouches

                                    54 million liquid and powder-filled bottles

 

Import Countries: Europe, the Far East and the United States of America

 

International Suppliers:

 

·       Danippon Pharmaceutical Co Ltd                    Japan

·       Tanabe Seiyaku Co Ltd                                  Japan

 

Export Countries: Bahrain, Qatar, United Arab Emirates, Oman, Kuwait, Yemen, Jordan, Syria, Egypt, Sudan, Libya

     and Algeria

 

Subject has a workforce of approximately 350 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

·       Riyad Bank

King Abdul Aziz Road

PO Box: 22622

Riyadh 11416

Tel: (966-1) 4013030

 

·       Arab National Bank (ANB)

King Faisal Street

PO Box: 56921

Riyadh 11564

Tel: (966-1) 4029000

Fax: (966-1) 4027747

 

·       Al Bank Al Saudi Al Fransi

Mather Road

PO Box: 56006

Riyadh 11554

Tel: (966-1) 4042222

Fax: (966-1) 4042311

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1997, subject is involved in the manufacture of pharmaceutical preparations and medical products.

 

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.49.97

UK Pound

1

Rs.77.74

Euro

1

Rs.65.09

 

 

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.