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Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
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Name : |
RAM PHARMACEUTICAL INDUSTRIES CO LTD |
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Registered Office : |
Building No. 261 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
05.09.1992 |
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Com. Reg. No.: |
2939, |
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Legal Form : |
Closed
Shareholding Company |
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Line of Business : |
Engaged in the manufacture of a wide range of therapeutic products, including anti-microbial agents, anxiolytes and anti-depressants, CNS stimulants, anti-hypertensive agents, hormones, analgesics and anti- inflammatory agents, drugs for respiratory and gastrointestinal systems, anti-hyperglycaemic, diuretics and anti-gout preparations. |
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No. of Employees |
300 |
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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Maximum Credit Limit : |
US$ 800,000 |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan's financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. In 2013, Jordan depended heavily on foreign assistance to finance the budget deficit, as the influx of about 600,000 Syrian refugees put additional pressure on expenditures
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Source
: CIA |
Company Name : RAM PHARMACEUTICAL INDUSTRIES CO LTD
Country of Origin : Jordan
Legal Form : Closed Shareholding Company
Registration Date : 5th September 1992
Commercial Registration Number : 2939, Amman
Membership Number : 7495
National ID Number : 200011910
Issued Capital : JD 5,600,000
Paid up Capital : JD 5,600,000
Total Workforce : 300
Activities : Manufacturers of therapeutic products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 800,000
Person Interviewed : Kamel Al Soufi , Human Resources Manager
RAM PHARMACEUTICAL INDUSTRIES CO LTD
Building : Building No.
261
Street : King
Abdullah II Industrial City, Street No. 5
Area : Amman
Industrial Estate, Gate No. 1, Sahab
PO Box : 211
Town : Amman 11512
Country : Jordan
Telephone : (962-6) 4023950
/ 4023951 / 4023952
Facsimile : (962-6) 4023749
Email : info@rampharma.com
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Amman.
Branch Office (s)
Location Description
· Khaleel Al Salem
Street Rented
office premises
Tal Al
Ali Area
Amman
Tel:
(962-6) 5340165 / 5340216
Fax:
(962-6) 5340439
Name Position
· Mahmoud Mohamed
Rashdi El Nejmi Managing
Director
· Mohamed Rashdi El Nejmi Director
· Naji Mohamed El
Jundi Director
· Munther Thabet El
Khalidi Director
· Wessam Mohamed
Rashdi El Nejmi Director
· Dr Ali Al Droobi Commercial
Manager
· Jamal Abu Al Rab Accounts
Manager
· Kamel Al Soufi Human
Resources Manager
Date of
Establishment : 5th
September 1992
Legal Form : Closed Shareholding Company
Commercial Reg.
No. : 2939, Amman
Membership No. : 7495
National ID No. :
200011910
Issued Capital : JD 5,600,000
Paid up Capital : JD 5,600,000
· Mahmoud Mohamed
Rashdi El Nejmi
· Mohamed Rashdi El
Nejmi
· Naji Mohamed El
Jundi
· Munther Thabet El
Khalidi
· Wessam Mohamed
Rashdi El Nejmi
· Al Rouwad For
Veterinary and Agricultural Industries Ltd (BIOVET)
Amman
Activities: Engaged in the manufacture of a wide range of therapeutic products, including anti-microbial agents,
anxiolytes and anti-depressants, CNS stimulants, anti-hypertensive agents, hormones, analgesics and
anti- inflammatory agents, drugs for respiratory and gastrointestinal systems, anti-hyperglycaemic,
diuretics and anti-gout preparations.
Subject is ISO
9002 accredited.
Import Countries: India and Europe
Export Countries: Algeria, Yemen, Iraq, Lebanon, Sudan, Saudi
Arabia, Oman, Bahrain and the United Arab
Emirates
Operating Trend: Steady
Subject has a workforce of approximately 300 employees.
Financial highlights provided by local sources are given below:
Currency: Jordanian Dinars (JD)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales JD
5,600,000 JD
6,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Kamel Al Soufi, Human Resources
Manager
·
Arab Bank Plc
Shmeisani Branch
PO Box: 950545
& 950544
Amman 11195
Tel: (962-6)
5607231 / 5607115
Fax: (962-6)
5606793 / 5606830
No complaints regarding subject’s payments have been reported.
Recommended credit limit: US$
800,000
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.59.80 |
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|
1 |
Rs.102.42 |
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Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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.