MIRA INFORM REPORT

 

 

Report Date :

02.07.2012

 

IDENTIFICATION DETAILS

 

Name :

AMMAN PHARMACEUTICAL INDUSTRIES COMPANY LTD (API)

 

 

Registered Office :

Street No. 3, Amman Industrial Estate, Sahab, P O Box 89, Amman 11512

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

20.12.1989

 

 

Com. Reg. No.:

495, Amman     

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of pharmaceuticals and drugs

 

 

No. of Employees :

84

 

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

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : AMMAN PHARMACEUTICAL INDUSTRIES COMPANY LTD (API)

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 20th December 1989

Commercial Registration Number            : 495, Amman

Chamber Membership Number                : 1717

National ID Number                                : 200095737

Issued Capital                                        : JD 4,000,000

Paid up Capital                                      : JD 4,000,000

Total Workforce                                     : 84

Activities                                               : Manufacturers of pharmaceuticals and drugs

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

COMPANY NAME

 

AMMAN PHARMACEUTICAL INDUSTRIES COMPANY LTD (API)

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Street No. 3

Area                 : Amman Industrial Estate, Sahab

PO Box             : 89

Town                 : Amman 11512

Country             : Jordan

Telephone         : (962-6) 4023072 / 4029543

Facsimile          : (962-6) 4023071

Email                : api@orange.jo / apigm@net.com.jo

 

Premises

Subject operates from a medium sized suite of offices and a factory covering an area of 5,000 square metres that are owned and located in the Industrial Area of Amman.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       7th Circle                                                                                           Rented Sales Office

PO Box: 926958

Amman

Tel: (962-6) 5827051

Fax: (962-6) 5827051

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Dr Mohamed Ismail Atrash                                                                 Managing Director

 

·       Fawzi Omari                                                                                     Director

 

·       Qasem Omari                                                                                   Director

 

·       Ahmed Omari                                                                                   Director

 

·       Nabil Saadeh                                                                                    Director

 

·       Ghassan Farah                                                                                 Director

 

·       Salman Abu Ramleh                                                                          Director

 

·       Samir Huneity                                                                                   Director

 

·       Samir Khoury                                                                                    Director

 

·       Fadi Al Attrash                                                                                  Director

 

·       Dr Hassan Saif                                                                                  Marketing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 20th December 1989

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 495, Amman

 

Chamber Member No. : 1717

 

National ID No.            : 200095737

 

Issued Capital              : JD 4,000,000

 

Paid up Capital            : JD 4,000,000

 

Name of Shareholder (s)

·       Dr Mohamed Ismail Atrash

·       Fawzi Omari

·       Qasem Omari

·       Ahmed Omari

·       Nabil Saadeh

·       Ghassan Farah

·       Salman Abu Ramleh

·       Samir Huneity

·       Samir Khoury

·       Fadi Al Attrash

·       Local businessmen and private investors

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceuticals and drugs, specialising in sterile eye drops and ointments,   nasal drops, ear drops, dermatological preparations and   oral solutions.

 

Subject is ISO 9001:2000 and GMP accredited.

 

Import Countries: United Kingdom, France and Germany.

 

Agencies Held:

 

·       Nairoukh Drug Store                          Jordan

·       Salehiya Establishment                     Saudi Arabia

·       Abdulmajeed Al Gharabally & Co        Kuwait

·       Behzad Medical Est                          Bahrain

·       Behzad Pharmacy                             Qatar

·       Balsam Drug & Medical Store            United Arab Emirates

 

Export Countries: Jordan, Oman, Algeria, Yemen, Bahrain, Kuwait, Saudi Arabia, Sudan, Tunisia, Libya, Iraq, Qatar,  Palestine, Egypt, Syria, Lebanon, Romania, Bosnia, Tanzania, Vietnam, Uganda, Eritrea, Ethiopia and Nigeria

 

Operating Trend: Steady

 

Subject has a workforce of 84 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Jordanian Dinars (JD)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                JD 4,175,000                             JD 4,400,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Jordan Kuwait Bank

Abdali Branch

PO Box: 9776

Amman

Tel: (962-6) 5688814

 

·       Industrial Development Bank

PO Box: 1982

Amman 11118

Tel: (962-6) 4642216 / 4642219

Fax: (962-6) 4647821

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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.56.31

UK Pound

1

Rs.88.06

Euro

1

Rs.70.91

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.