MIRA INFORM REPORT

 

 

Report Date :

09.03.2012

 

 

IDENTIFICATION DETAILS

 

Name :

SAVVY PHARMA

 

 

Registered Office :

Building No. 7 Al Yarouti Street Al Jubeiha Area PO Box   2233 Amman 11941

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

05.08.2009

 

 

Com. Reg. No.:

644

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of pharmaceutical products.

 

 

No. of Employees :

60

 

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$ 150,000

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                                     : SAVVY PHARMA

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 5th August 2009

Commercial Registration Number            : 644

National ID Number                                : 200105042

Issued Capital                                        : JD 100,000

Paid up Capital                                      : JD 100,000

Total Workforce                                     : 60

Activities                                               : Manufacture of pharmaceutical products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Eman Badawi, Administration Executive

 

COMPANY NAME

 

SAVVY PHARMA

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Building No. 7

Street               : Al Yarouti Street

Area                 : Al Jubeiha Area

 

PO Box             : 2233

 

Town                 : Amman 11941

Country             : Jordan

 

Telephone         : (962-6) 5358733

Facsimile          : (962-6) 5350583

Email                : info@savvypharma.com

 

Premises

 

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Ahmed Khalf Al Ghazawi                                                               Chief Executive Officer

 

·       Dr Mohamed Al Aghbari                                                                     Technical Manager

 

·       Sulaiman Daja                                                                                  Quality Control Manager

 

·       Eman Badawi                                                                                   Administration Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 5th August 2009

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 644

 

National ID No.            : 200105042

 

Issued Capital              : JD 100,000

 

Paid up Capital            : JD 100,000

 

Name of Shareholder (s)                                          

 

·       Triumpharma Co Ltd

Amman

 

·       Al Tarkeez For Trading

Amman

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of pharmaceutical products.

 

                 Subject is ISO 9001:2000 accredited

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 60 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 1,750,000                             JD 2,590,000

 

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

 

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

 

 

BANKERS

 

·       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.

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the company is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.57

UK Pound

1

Rs.79.57

Euro

1

Rs.66.49

 

 

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.