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Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
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Name : |
MONTAJAT
VETERINARY PHARMACEUTICALS CO LTD |
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Registered Office : |
2nd Industrial City,
4248 Dammam 31491 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.07.2001 |
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Com. Reg. No.: |
Dammam 31491 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of
veterinary medicines. |
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No. of Employees : |
150 |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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.
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Source : CIA |
Company Name : MONTAJAT VETERINARY
PHARMACEUTICALS CO LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : 15th
July 2001
Commercial
Registration Number :
2050038700, Dammam
Chamber Membership
Number : 1293
Issued Capital : SR
1,500,000
Paid up Capital : SR
1,500,000
Total Workforce : 150
Activities :
Manufacturers of veterinary medicines.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MONTAJAT VETERINARY
PHARMACEUTICALS CO LTD
Location : 2nd Industrial City
PO Box : 4248
Town :
Dammam 31491
Country : Saudi Arabia
Telephone : (966-3) 8123221 / 8123318
Facsimile : (966-3) 8123112 / 8123221
Email : info@montajat.biz
Subject operates from
a medium sized suite of offices and a factory that are owned and located in the
Industrial Area of Dammam.
Name Position
·
Abdul
Hamid Mohamed Al Ansari Managing
Partner
·
Fawzi
Sulaiman Al Rabee General
Manager
·
Mohamed
Abdul Nabi Purchasing
Manager
·
Dr
Mahmoud Al Amroosi Production
Manager
Date of Establishment : 24/04/1422
Hijri (corresponding to 15th July 2001)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050038700,
Dammam
Chamber Member No. : 1293
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
·
Abdul
Hamid Mohamed Al Ansari
·
Mada
For Investment
Saudi Arabia
Activities: Engaged in the manufacture of veterinary medicines including antimicrobials, antiparasitics, acaricides, disinfectants, CIP agents and nutraceuticals, in oral, topical and injectable dosage forms.
Subject has been awarded the GMP Certificate as well as the ISO 9002 certificate.
Import Countries: Europe and Asia
Brand Names: FLORJAT, MICOJAT, COMBAT, ECTRAZ and PELCON
Operating Trend: Steady
Subject has a
workforce of approximately 150 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales SR 80,000,000 SR 82,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
No complaints
regarding subject’s payments have been reported.
Please note that we
were unable to contact the subject during our investigation.
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.53.87 |
|
|
1 |
Rs.83.59 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
-- |
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.