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Report Date : |
03.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TABUK PHARMACEUTICAL MANUFACTURING CO LTD (TPMC) |
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Registered Office : |
Tabuk 47532 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
3550012995, Tabuk |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Production and distribution of pharmaceutical products |
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No. of Employees : |
650 |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Saudi Arabia |
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 |
SAUDI ARABIA - ECONOMIC OVERVIEW
Saudi Arabia has an oil-based
economy with strong government controls over major economic activities. It
possesses about one-fifth of the world's proven petroleum reserves, ranks as
the largest exporter of petroleum, and plays a leading role in OPEC. The
petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and
90% of export earnings. Saudi Arabia is encouraging the growth of the private
sector in order to diversify its economy and to employ more Saudi nationals.
Diversification efforts are focusing on power generation, telecommunications,
natural gas exploration, and petrochemical sectors. Almost 6 million foreign
workers play an important role in the Saudi economy, particularly in the oil
and service sectors, while Riyadh is struggling to reduce unemployment among its
own nationals. Saudi officials are particularly focused on employing its large
youth population, which generally lacks the education and technical skills the
private sector needs. Riyadh has substantially boosted spending on job training
and education, most recently with the opening of the King Abdallah University
of Science and Technology - Saudi Arabia''s first co-educational university. As
part of its effort to attract foreign investment, Saudi Arabia acceded to the
WTO in December 2005 after many years of negotiations. The government has begun
establishing six "economic cities" in different regions of the
country to promote foreign investment and plans to spend $373 billion between
2010 and 2014 on social development and infrastructure projects to advance
Saudi Arabia''s economic development.
Source : CIA
Company Name : TABUK PHARMACEUTICAL MANUFACTURING CO LTD (TPMC)
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1994
Commercial Registration Number : 3550012995, Tabuk
Chamber Membership Number : 6612
Issued Capital : SR 103,000,000
Paid up Capital : SR 103,000,000
Total Workforce : 650
Activities : Production and distribution of pharmaceutical products
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Hussain Zayout, Finance Manager
TABUK PHARMACEUTICAL MANUFACTURING CO LTD (TPMC)
Location : Madinah Road,
3844 Highway, Unit No. 1
Area : Abu Roshaid
Area
PO Box :
3844
Town : Tabuk 47532
Country : Saudi Arabia
Telephone : (966-4) 4283030
Facsimile : (966-4)
4283031
Mobile : (966-50)
5481448
Email : tpmc@nournet.com.sa
/ mousagaswani@tpmc.com.sa
Subject operates from a large suite of offices and a factory that are owned
and located in the Industrial Area of Tabuk.
Branch Office (s)
Location Description
· Industrial Area Office
premises
PO Box: 28170
Riyadh 11437
Tel: (966-1)
4783789 / 4774946
Fax: (966-1)
4782686
· PO Box: 142904 Office
premises
Amman 11844
Jordan
Tel: (962-6)
5827999
Fax: (966-2)
5815942
Name Position
· Ghaith Sukhtian Managing
Partner
· Hamad Abdulaziz Al
Khomais Partner
· Mohamed Taha Al
Kharoobi Partner
· Ismail Bashir Chief
Executive Officer
· Raed Samadi Human
Resources Manager
· Mysara Rabah Technical
Manager
· Hussain Zayout Finance
Manager
Date of
Establishment : 1994
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 3550012995, Tabuk
Chamber Member No. : 6612
Issued Capital : SR 103,000,000
Paid up Capital : SR 103,000,000
· Ghaith Sukhtian
· Hamad Abdulaziz Al
Khomais
· Mohamed Taha Al
Kharoobi
· Munir Sukhtian Group
Company
PO Box: 1027
Abdali Area
Amman 11118
Jordan
Tel: (962-6)
5688888
Fax: (962-6)
5601568
Email: info@sukhtian.com.jo
· Astra Industrial
Complex for Fertilizer & Agrochemicals Ltd
Sitteen Street
PO Box: 54061
Riyadh 11514
Tel: (966-1)
4772346
Fax: (966-1)
4782102
Email: astrachem@nournet.com
· Astra Agricultural
Co Ltd
Sitteen Street
PO Box: 54061
Riyadh 11514
Tel: (966-1)
4772346
Fax:
(966-1) 4782102
· National Metal
Industries Co Ltd
New Industrial
Area
PO Box: 1737
Riyadh 11441
Tel: (966-1)
4982572
Fax: (966-1)
4982580
· Arab Supply &
Trading Corporation (ASTRA)
Sitteen Street
Malaz
PO Box: 3863
Riyadh 11481
Tel: (966-1)
4776017 / 4771488
Fax: (966-1) 4780679
· Saudi Mais Co for
Medical Products
PO Box: 42801
Riyadh 11551
Tel: (966-1)
4983739
Fax: (966-1)
4983739
· Al Mona Company
PO Box: 41197
Riyadh 11521
Tel: (966-1)
4981687
· Saudi Mais Co for
Irrigation Systems Ltd
PO Box: 42801
Riyadh 11551
Tel: (966-1)
4982779
Fax: (966-1)
4983739
· Astra Caravan Co
Ltd
PO Box: 54061
Riyadh 11514
· Astra Transport
PO Box: 54061
Riyadh 11514
· Astra Pharma
PO Box: 54061
Riyadh 11514
Activities: Engaged in the production and distribution of pharmaceutical products,
including tablets, capsules,
suspensions, syrups, injectables, drops, emulsions and sprays.
Annual Production Capacities:
· Tablets 500,000,000
· Injections 14,000,000
· Capsules 250,000,000
· Suspensions 5,000,000
· Syrups 71,000,000
· Drops 5,000,000
· Emulsions 5,000,000
· Sprays 3,000,000
Import Countries: Germany, Japan, South Korea, and the United States
of America
Brand Names: TPMC
Operating Trend: Steady
Subject has a workforce of approximately 650 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales SR
225,000,000 SR 234,000,000
Local sources consider subject’s financial condition to be Good.
·
Riyad Bank
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-1) 4013030
·
Arab National Bank (ANB)
King Faisal Street
North Morabbaa
PO Box: 56921
Riyadh 11564
Tel: (966-1)
4029000
Fax: (966-1)
4027747
Acc No.
01160000217400
No complaints regarding subject’s payments have been reported.
Credit amount 250,000 100,000
Amount overdue 0 0
Payment terms 90
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Euros Euros
Tabuk Pharmaceutical Manufacturing Co Ltd (TPMC) was established in 1994
and is a leading producer of medicines in the Kingdom of Saudi Arabia. It has
an excellent reputation for the quality of its work and deals with the Saudi
Ministry of Health on a regular basis.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.78 |
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1 |
Rs.85.16 |
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Euro |
1 |
Rs.67.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.