|
Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNITED VETERINARY DRUGS INDUSTRIAL CO LTD (UVEDCO) |
|
|
|
|
Registered Office : |
Industrial Zone, Al Buhaira Area, PO Box 1023, Salt 19110 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
26.05.1981 |
|
|
|
|
Com. Reg. No.: |
846, Amman |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in the manufacture and marketing of veterinary drugs, forage
concentrates, powder and liquid vitamins and antibiotics. |
|
|
|
|
No. of Employees : |
65 |
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 |
Company Name : UNITED
VETERINARY DRUGS INDUSTRIAL CO LTD (UVEDCO)
Country of Origin :
Jordan
Legal Form : Limited Liability
Company
Registration Date :
26th May 1981
Commercial Registration Number :
846, Amman
Trade Licence Number :
3034
National ID Number :
200008124
Issued Capital :
JD 2,000,000
Paid up Capital :
JD 2,000,000
Total Workforce : 65
Activities :
Manufacture and marketing of veterinary drugs, forage concentrates,
powder and liquid vitamins and antibiotics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Omar Shukairat, Commercial Manager
UNITED VETERINARY DRUGS INDUSTRIAL CO LTD (UVEDCO)
Location : Industrial
Zone
Area : Al Buhaira
Area
PO Box : 1023
Town : Salt 19110
Country : Jordan
Telephone : (962-5) 3551049
/ 3551072 / 3551073
Facsimile : (962-5)
3551048
Email : uvedco1@joinnet.com.jo / info@uvedco.com
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Industrial Area of Al Salt.
Name Position
· Yousef Mohamed Abu
Abu Zaid Managing
Director
· Basel Wasfi Abu Ghazala Director
· Omar Shukairat Commercial Manager
· Anan Othman Production
Manager
Date of
Establishment : 26th
May 1981
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 846, Amman
Trade Licence No. : 3034
National ID No. :
200008124
Issued Capital : JD 2,000,000
Paid up Capital : JD 2,000,000
· Yousef Mohamed Abu
Abu Zaid
· Basel Wasfi Abu Ghazala
· Al
Sane Agriculture Investment Co
Amman
Jordan
Activities: Engaged in the manufacture and marketing of veterinary drugs, forage
concentrates, powder and liquid vitamins
and antibiotics.
Subject is ISO 9001 accredited.
Import Countries: United Kingdom, Italy, Switzerland and Australia
Agencies Held:
·
Alwadi Poultry Farms Company Saudi
·
Zasco International Co Ltd Sudan
·
Alzailai For Trading And Contracting Est Yemen
·
Omanidrug House Co LLC Oman
·
Almashriq Vet Pharmacy Mauritania
·
Osharvet Trading Veterinary Pharmaceutical Syria
·
Modern Office For Import & Export Egypt
·
Tasharokiat Abu Halfaia Libya
·
Bentaloba Spain
·
Basf Germany
·
DSM Germany
·
Singoban France
Brand Names: UVEDCO
Operating Trend: Steady
Subject has a workforce of 65 employees.
Financial highlights provided by local sources are given below:
Currency: Jordanian Dinars (JD)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales JD
4,650,000 JD
5,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Omar Shukairat,
Commercial Manager
·
Arab Bank Plc
PO Box: 658
Salt 19110
Tel: (962-5) 3554935 / 3554937
Fax: (962-5) 3553247
No complaints regarding subject’s payments have been reported.
Credit amount 12,000
Amount overdue 0
Payment terms 30
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
United Veterinary Drugs Industrial Co Ltd (Uvedco) was established in
1983 and is well known in the local business community. It specialises in the
manufacture and marketing of veterinary drugs, forage concentrates, powder and
liquid vitamins and antibiotics.
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.63.37 |
|
UK Pound |
1 |
Rs.100.85 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.