MIRA INFORM REPORT
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Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
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Name : |
TABUK PHARMACEUTICAL MANUFACTURING CO LTD (TPMC) |
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Registered Office : |
Madinah Road, 3844 Highway, Unit No. 1, Abu Roshaid Area, PO Box 3844,
Tabuk 47532 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
3550012995 |
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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 : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – March, 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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.
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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)
Registered &
Physical Address
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
Premises
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
Name of Partner (s)
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 31/12/11: Year Ending 31/12/12:
Total Sales SR
234,000,000 SR 240,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
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.
Date of transaction September
2002 June 2008
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.24 |
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|
1 |
Rs.84.29 |
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Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.