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Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
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Name : |
JAMJOOM MEDICAL INDUSTRIAL CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
18.04.2005 |
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Com. Reg. No.: |
4030155134, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of medical disposable products |
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No. of Employees |
600 |
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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 16% 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. Over 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 2005. 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 :
JAMJOOM MEDICAL INDUSTRIAL CO LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
18th April 2005
Commercial Registration Number :
4030155134, Jeddah
Membership Number :
105923
Issued Capital :
SR 25,000,000
Paid up Capital :
SR 25,000,000
Total Workforce :
600
Activities :
Manufacturers of medical disposable products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Haroon Urhman, Financial Controller
JAMJOOM MEDICAL INDUSTRIAL CO LTD
Registered &
Physical Address
Location : Al Tahlia Street
PO Box : 9158
Town : Jeddah 21413
Country : Saudi Arabia
Telephone : (966-12) 2203700 / 6370437 / 6370453
Facsimile : (966-12) 6530240 / 6380772
Email : hrahman@jamjoom.md
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Branch Offices
Location Description
Industrial Area, Phase 4 Factory
premises
Jeddah
PO Box: 16463 Office
premises
Riyadh 11464
Tel: (966-11) 4632727
Fax: (966-11) 4632435
Name Position
Sheikh Kamal Makki Jamjoom Managing
Partner
Sheikh Mohamed Saleh Jamjoom Partner
Haroon Urhman Financial
Controller
Hikmat Al Khatib Factory
Manager
Mohamed Amro Production
Manager
Date of Establishment : 10/03/1426 Hijri
(corresponding to 18th April 2005)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030155134,
Jeddah
Membership No. : 105923
Issued Capital : SR 25,000,000
Paid up Capital : SR 25,000,000
Name of Partner
(s)
Sheikh Kamal Makki Jamjoom
Sheikh Mohamed Saleh Jamjoom
Subject is a member of the Jamjoom Group of Companies, which consists of
the following concerns:
Jamjoom Medicine Store
Jamjoom Building, 1st Floor
Sheikh Abdul Wahab Street
Alammariyyah District
PO Box: 935
Jeddah 21421
Tel: (966-2) 6422463 / 6422563
Fax: (966-2) 6440964
Email: jpharma@saudionline.com.sa
Depot Pharmacentique Du Moyen Orient
PO Box: 415
Jeddah 21411
Tel: (966-2) 6431711
Fax: (966-2) 6444700
Jamjoom General Agencies
PO Box: 2127
Jeddah 21451
Tel: (966-2) 6423195
Fax: (966-2) 6431832
Email: jga@jamjoom.com
Jamjoom Vehicles & Equipment
Jamjoom Vehicles Building
Makkah Road, Kilo 5
PO Box: 1247
Jeddah 21431
Tel: (966-2) 6871876 / 6871708
Fax: (966-2) 6872710 / 6879652
Email: jve@jamjoom.com
Jamjoom Metal Industries
Jeddah Trident
Jamjoom Advanced Technology
Jamjoom Pharmaceuticals Co Ltd
Industrial City, Phase 5, Plot 1-3
PO Box: 6267
Jeddah 21442
Tel: (966-2) 6081111
Fax: (966-2) 6081222
Activities: Engaged in the
manufacture of medical disposable products.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of approximately 600 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales SR
148,700,000 SR 155,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Haroon Urhman, Financial Controller
National Commercial Bank
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
No complaints regarding subject’s payments have been reported.
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.60.44 |
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UK Pound |
1 |
Rs.100.24 |
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Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.