MIRA INFORM REPORT
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Report Date : |
22.03.2012 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT SAUDI PHARMACEUTICAL INDUSTRIES CO
KSCC (KSP) |
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Registered Office : |
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Country : |
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Date of Incorporation : |
15.05.1994 |
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Com. Reg. No.: |
56925, Safat |
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Legal Form : |
Kuwaiti Shareholding Company Closed - KSCC |
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Line of Business : |
Manufacturing,
marketing and distribution of pharmaceutical and health care products |
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No. of Employees
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250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 700,000 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Kuwait |
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 : KUWAIT SAUDI PHARMACEUTICAL INDUSTRIES CO KSCC (KSP)
Country of Origin : Kuwait
Legal Form : Kuwaiti Shareholding Company Closed - KSCC
Registration Date : 15th May 1994
Commercial Registration Number : 56925, Safat
Chamber Membership Number : 42504
Issued Capital : KD 8,000,000
Paid up Capital : KD 8,000,000
Total Workforce : 250
Activities :
Manufacturing, marketing and
distribution of pharmaceutical and health
care products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 700,000
KUWAIT
SAUDI PHARMACEUTICAL INDUSTRIES CO KSCC (KSP)
Registered &
Physical Address
Location : Southern Sabhan, Block 4, Street
No. 103, Building No. 1
Area : Sabhan
Industrial Area
PO Box : 5512
Town : Safat 13056
Country :
Telephone : (965) 24745012 / 24745014 / 24745013 /
24748457 / 24748398
Facsimile : (965) 24745361
Email : info@kspico.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Safat.
Name Position
·
Dr Abdul Rahman Abdullah Al Awadhi Chairman
·
Abdullah Asaad Mohamed Managing
Director
·
Dr Issa Jassim Mohamed Al Khalifa Chief
Executive Officer
·
Dr Wassim Abu Aorah Commercial
Manager
·
Mirza Javid Factory
Manager
·
Dr
Tariq Al Habib Marketing
Manager
·
C
Mathew Finance
Manager
Date of Establishment : 15th
May 1994
Legal Form :
Kuwaiti Shareholding
Company Closed - KSCC
Commercial Reg. No. : 56925, Safat
Chamber Member No. : 42504
Issued Capital : KD 8,000,000
Paid up Capital : KD 8,000,000
Name of
Shareholder (s)
·
Dr Abdul Rahman Abdullah Al Awadhi
·
National
Securities Group
Kuwait
Activities: Engaged in the manufacturing, marketing
and distribution of pharmaceutical and health care products.
Dosage forms include oral solids, liquids,
haemodialysis, peritoneal dialysis and parenterals.
Clients include the Kuwaiti Ministry of Health, King Fahad Hospital,
Saudi Arabia, Government of Dubai, Bahrain Defence Hospital, and the Ministries
of Health in countries including Ethiopia, Lebanon, Jordan and Yemen.
Production Capacity: Tablets/Capsules:
1200m tablet/capsule
Liquids:
30m Bottles
Large
Volume Parenterals: 12m Bottles
Import
Countries: Germany,
Switzerland, Italy and the United States of America
International
Suppliers:
·
PharmaPlan GmbH Germany
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Fresenius Medical Care Germany
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R. Bosch GmbH Germany
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Novartis Enterprise Switzerland
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F. Hoffmann- LA Roche Ltd Switzerland
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Mepha Pharmaceuticals Switzerland
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S.I.M.S Pharmaceuticals Italy
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Bioindustria Italy
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Mallinckrodt Tyco United States of America
Export
Countries: Saudi
Arabia, United Arab Emirates, Qatar, Bahrain, Oman, Yemen, Ethiopia, Sudan,
Jordan,
Syria, Iraq, and Libya
Subject has a
workforce of approximately 250 employees.
Companies
registered in Kuwait are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Al Ahli
Bank of Kuwait KSC
Mubarak Al Kabir Street
PO Box: 1387
Safat 13033
Tel: (965) 22411101 / 22411102
·
Industrial
Bank of Kuwait
Commercial Area No. 9
PO Box: 3146
Safat 13032
Tel: (965) 22457661
Fax: (965) 22462057
No complaints
regarding subject’s payments have been reported.
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
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.50.59 |
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UK Pound |
1 |
Rs.80.34 |
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Euro |
1 |
Rs.67.14 |
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.