|
Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAJAL
PHARMACEUTICAL CO |
|
|
|
|
Registered Office : |
Zahran Plaza, 2nd
Floor, Office No. 203, Zahran Street, P O Box 142907, Amman 11844 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03.06.2010 |
|
|
|
|
Com. Reg. No.: |
20781/14 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
manufacturer of pharmaceuticals |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
Company Name : MAJAL PHARMACEUTICAL CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 3rd June 2010
Commercial Registration Number : 20781/14
National ID Number : 300001617
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Total Workforce : 65
Activities : Manufacturers of pharmaceuticals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nada Daana, Financial Controller
MAJAL PHARMACEUTICAL
CO
Registered &
Physical Address
Building : Zahran Plaza, 2nd
Floor, Office No. 203
Street : Zahran Street
PO Box : 142907
Town : Amman 11844
Country : Jordan
Telephone : (962-6) 5810703 / 5827999 / 5810727
Facsimile : (962-6) 5820876
Email : mr.odat@yahoo.com / nada.daana@mspharma.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Amman.
Name Position
·
Ghaith
Munir Sukhtain Managing
Director
·
Ghassan
Aqeel Sukhtain Director
·
Munjed
Sukhtain Director
·
Nada
Daana Financial
Controller
Date of Establishment : 3rd
June 2010
Legal Form :
Limited Liability Company
Commercial Reg. No. : 20781/14
National ID No. :
300001617
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Name of Shareholder
(s)
·
Ghaith
Munir Sukhtain
·
Ghassan
Aqeel Sukhtain
·
Munjed
Sukhtain
·
Amana Tourism Services
·
Arabian
Office Automation Company Ltd
·
Beit Jala Pharmaceutical Manufacturing (BJP)
·
Exir
LLC
·
Ghayat Construction
·
Households
& Toiletries Manufacturing Co
·
Jordan Greenhouses Manufacturing Co Ltd (Rayyan)
·
Munir Sukhtian Global
·
Munir Sukhtian Investment
·
Munir Sukhtian Trading Group Co Ltd
·
Sukhtian Brothers
·
Sukhtian Industrial Trading (SIT)
·
Tabuk Pharmaceutical Manufacturing Company
·
United
Pharmaceuticals Manufacturing Co Ltd (UPM)
Activities: Engaged in the manufacture of
pharmaceuticals.
Import
Countries: Europe and the
Far East
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 31/12/12: Year
Ending 31/12/13:
Total Sales JD 2,600,000 JD 3,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Jordan Investment Bank
Ibn Hani Street
Shmeisani
PO Box: 8797
Amman 11121
Tel: (962-6) 5607126 / 5607138
Fax: (962-6) 5681482 / 5690646
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.