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Report Date : |
05.02.2014 |
IDENTIFICATION DETAILS
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Name : |
MEDICAL AND COSMETIC PRODUCTS COMPANY LTD (MCPC) |
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Registered Office : |
3rd Industrial Area 140, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
18.12.1994 |
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Com. Reg. No.: |
1010131637, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of pharmaceutical, medical, sterilising and cosmetic
products and preparations. |
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No. of Employees : |
550 |
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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Maximum Credit Limit : |
US$ 2,500,000 |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 17% 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 5 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 $373 billion between 2010 and 2014 on social development and infrastructure projects to advance Saudi Arabia''s economic development
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Source
: CIA |
Company Name : MEDICAL AND COSMETIC PRODUCTS COMPANY LTD (MCPC)
Doing Business As : RIYADH PHARMA
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 18th December 1994
Commercial Registration Number : 1010131637, Riyadh
Chamber Membership Number : 76032
Issued Capital : SR 100,000,000
Paid up Capital : SR 100,000,000
Total Workforce : 550
Activities : Manufacture of pharmaceutical, medical, sterilising and cosmetic products and preparations.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 2,500,000
Person Interviewed : Othman Mahmoud, Finance Manager
MEDICAL AND COSMETIC PRODUCTS COMPANY LTD (MCPC)
RIYADH PHARMA
Location : 3rd
Industrial Area
PO Box : 140, Riyadh
11383
442, Riyadh 11411
Town : Riyadh
Country : Saudi Arabia
Telephone : (966-11)
2650111 / 4414056
Facsimile : (966-11)
2650505
Email : info@riyadhpharma.com
Subject operates from a large suite of offices, a factory and a
warehouse covering an area of 22,000 square metres that are owned and located
in an Industrial Area of Riyadh.
Branch Offices
Location Description
· Olaya District Office
premises
Riyadh
Tel: (966-1) 4026150 / 4655075 / 4652354
Fax: (966-1) 4026150
Name Position
· Dr Waleed Amin Abdul
Fattah Al Kayyali Managing
Partner
· Dr Hussain Abdul
Razzaq Al Jazaeri Partner
· Dr
Nedal Hosari General
Manager
· Dr
Khalid Al Fahidi Assistant
General Manager
· Othman Mahmoud Finance
Manager
· Mohamed Yousef Assistant
Finance Manager
· Yasser Fawazi Commercial
Manager
· Abdul Hakim Atoun Purchasing
Manager
Date of
Establishment : 15/07/1415 Hijri
(corresponding to 18th December 1994)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 1010131637, Riyadh
Chamber Member No. : 76032
Issued Capital : SR 100,000,000
Paid up Capital : SR 100,000,000
· Dr Waleed Amin
Abdul Fattah Al Kayyali 95%
· Dr Hussain Abdul
Razzaq Al Jazaeri 5%
· Al Haya Medical Co
(AMCO)
Prince Abdul Malik
Bin Marwan Street
Olaya District
PO Box: 442
Riyadh 11411
Tel: (966-1)
4655075
Fax: (966-1)
4652354
· Pharmaceutical
Solution Industries Limited (PSI)
Street 203, Road 208
Second Industrial
Estate
PO Box: 17476
Jeddah 21484
Tel: (966-2)
6361383 / 6380020
Fax: (966-2)
6379460
· National Advanced
Systems Co Ltd (NASCO)
Pepsi Cola Street
Malaz District
PO Box: 50009
Riyadh 11523
Tel: (966-1)
4771307
Fax: (966-1)
4774913
· United Arab Motors
Co Ltd
Malaz District
PO Box: 58310
Riyadh 11494
Tel: (966-1)
4791101
Fax: (966-1)
4767895
Activities: Engaged in the manufacture of pharmaceutical, medical, sterilising and
cosmetic products and
preparations. The product range includes
syrups, therapeutic tablets, anti-inflammatory and anti-hypertensive capsules,
instrument cleaners and sterilising solutions, skin cleanser and medicated
anti-bacterial hand washes, surgical scrubs, general antiseptic solutions, as
well as floor care detergents.
The sole
distributor of its products is Al Haya Medical Co (AMCO).
Production Capacity: Tablets 665,000,000 per annum
Capsules 500,000,000 per annum
Shampoos
10,000,000 units per annum
Skin Lotion
10,000,000 units per annum
Oral
Drops 10,000,000 units per annum
Eye
Drops 7,500,000 units per annum
Eye
Ointments 6,000,000 units per annum
Detergents
2,500,000 units per annum
Antiseptics
2,500,000 units per annum
Import Countries: United Kingdom, Germany, Italy and France.
Brand Names: RIYADH PHARMA, SMITH & NEPHEW, MERCK and
JANSSEN CILAG
Operating Trend: Steady
Subject has a workforce of approximately 550 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
217,000,000 SR 221,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
National Commercial Bank
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-11)
4772281
Fax: (966-11)
4730322
No complaints regarding subject’s payments have been reported.
Credit amount 200,000 142,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Pounds
Sterling Euros
Recommended credit limit: US$
2,500,000
Medical And Cosmetic Products Company Ltd (MCPC) is a leading manufacturer
in Saudi Arabia of pharmaceutical, medical, sterilising and cosmetic products
and preparations.
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.62.68 |
|
|
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.84.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.