MIRA INFORM REPORT

 

 

Report Date :

28.11.2013

 

IDENTIFICATION DETAILS

 

Name :

AL RAHMA PHARMACEUTICAL COMPANY LTD

 

 

Registered Office :

Al Sharee’ah College Street, Jabal Al Luweibdeh, PO Box: 9415, Amman 11191

 

 

Country :

Jordan

 

 

Date of Incorporation :

15.09.1993

 

 

Com. Reg. No.:

11533

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of pharmaceutical preparations and hospital detergents and disinfectants

 

 

No. of Employees :

300

 

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

 

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 – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Jordan

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

jordan - ECONOMIC OVERVIEW

 

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan''s GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 and 2012, the government approved two economic relief packages and a budgetary supplement, meant to improve the living conditions for the middle and poor classes. Jordan''s finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive diesel imports, primarily from Saudi Arabia, to generate electricity. Jordan is currently exploring nuclear power generation in addition to the exploitation of abundant oil shale reserves and renewable technologies to forestall energy shortfalls. In 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan''s financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan will continue to depend heavily on foreign assistance to finance the deficit in 2013.

 

Source : CIA

 

SUMMARY

 

Company Name                                     : AL RAHMA PHARMACEUTICAL COMPANY LTD

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Start Date                                             : 15th September 1993

Registration Date                                   : 10th October 1995

Commercial Registration Number            : 3976, Amman

Chamber Membership Number                : 11533

National ID Number                                : 200010989

Issued Capital                                        : JD 500,000

Paid up Capital                                      : JD 500,000

Total Workforce                                     : 300

Activities                                               : Manufacturers of pharmaceutical preparations and hospital detergents and disinfectants

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

AL RAHMA PHARMACEUTICAL COMPANY LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Al Sharee’ah College Street

Area                 : Jabal Al Luweibdeh

PO Box             : 9415

Town                 : Amman 11191

Country             : Jordan

 

Telephone         : (962-6) 4653280 / 4028427 / 4023808

Facsimile          : (962-6) 4653284 / 4696395

Email                : rah@hilwani.com.jo / rah@techni-group.com

 

Premises

 

Subject operates from a medium sized suite of offices that are owned and located in the Central Business Area of Amman.

 

Branch Office (s)

 

Location                                                                      Description

 

King Abdullah the 2nd Industrial Estate                             Factory premises

Street H

Sahab

Tel: (962-6) 4026383

Fax: (962-6) 4026383

 

 

KEY PRINCIPALS

 

Name                                                                           Position

 

Taisir Mustafa Hilwani                                                     Managing Director

 

Hiba Shaikh Ardh                                                           Director

 

Atiyat Mohamed Yousef                                                 General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject was originally established on 15th September 1993 as a general partnership,    however on 10th October 1995 subject re-registered as a Limited Liability Company.

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 3976, Amman

 

Chamber Member No. : 11533

 

National ID No.            : 200010989

 

Issued Capital              : JD 500,000

 

Paid up Capital            : JD 500,000

 

Name of Shareholder (s)                                                    Percentage

 

Taisir Mustafa Hilwani                                                                 93%

 

Hiba Shaikh Ardh                                                                       7%

 

 

AFFILIATED COMPANIES

 

Al Aqtar Al Arabiya Co

Amman

 

 

OPERATIONS

 

Activities:                     Engaged in the manufacture of pharmaceutical preparations and hospital detergents and disinfectants.

 

Import Countries:         Europe

 

Export Countries:         Saudi Arabia, Yemen and Iraq

 

Subject has a workforce of approximately 300 employees.

 

 

FINANCIAL DATA

 

Companies registered in Jordan are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

Jordan National Bank

Jabal Amman Branch

PO Box: 1578

Amman 11118

Tel: (962-6) 5642391

Fax: (962-6) 5628809

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject meets its payment obligations in a timely manner and the company is considered to be a fair trade risk.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.36

UK Pound

1

Rs.101.11

Euro

1

Rs.84.67

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

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