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Report Date : |
01.10.2014 |
IDENTIFICATION DETAILS
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Name : |
JAZEERA PHARMACEUTICAL INDUSTRIES\ |
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Registered Office : |
Riyadh Gallery,
Olaya District, P O Box: 106229, |
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Country : |
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Year of Establishment : |
1997 |
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Com. Reg. No.: |
1010124373, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of
pharmaceutical preparations and medical products. |
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No. of Employees : |
380 |
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$ 750,000 |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
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 $373 billion between 2010 and 2014 on
social development and infrastructure projects to advance Saudi Arabia's economic
development.
|
Source
: CIA |
Company Name : JAZEERA PHARMACEUTICAL INDUSTRIES
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Registration Date : 1997
Commercial
Registration Number : 1010124373,
Riyadh
Chamber Membership
Number : 70256
Issued Capital : SR
65,000,000
Paid up Capital : SR
65,000,000
Total Workforce : 380
Activities :
Manufacture of pharmaceutical preparations and medical products
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 750,000
Person Interviewed : Amjad Qassem,
Accountant
JAZEERA
PHARMACEUTICAL INDUSTRIES
Building : Riyadh Gallery
Area : Olaya District
PO Box : 106229
Town : Riyadh 11666
Country : Saudi Arabia
Telephone : (966-11) 2142772 / 2140533
Facsimile : (966-11) 2078173
Email : info@jpi.com.sa
Please note that
subject’s previous address was, New Akareya Building, 2nd Floor,
Salah El Din Street, Riyadh.
Subject operates
from a large suite of offices that are rented and located in the Industrial
Area of Riyadh.
Branch Office
(s)
Location Description
·
RP JPI Raw and Packing Warehouse Owned
factory premises covering an
Old Al Kharj Road area
of 15,000 square metres
3rd Industrial Zone, Exit 11
Riyadh
Tel: (966-11) 2142472 / 8030381 / 8030389
Fax: (966-11) 2140855
Name Position
·
Mazen Al Darwazah Managing
Director
·
Dr
Ishaaq Al Hajeri General
Manager
·
Mohamed Mosbah Factory
Manager
·
Aaid
Olayan Planning
Manager
·
Ayad
Masarwa Sales
Manager
·
Kamal Saeed Marketing
Manager
·
Zuhdi
Mussad Human
Resources Manager
·
Ayed
Anzi Logistics
Officer
·
Amjad
Qassem Accountant
Date of Establishment : 1997
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1010124373,
Riyadh
Chamber Member No. : 70256
Issued Capital : SR 65,000,000
Paid up Capital : SR 65,000,000
·
Al
Hikma Pharmaceuticals 100%
Amman
Jordan
Tel: (962-6) 5802900
Activities: Engaged in the manufacture of
pharmaceutical preparations and medical products.
Subject has a product range comprising more than 110 registered products, specialising in therapeutic areas,
such as Anti-infectives, Musculo-skeletal, Cardiovascular, Alimentary,
Respiratory, Dermatology, Genito-urinary.
Production
Capacity: 220 million capsules per annum
690 million
tablets
27 million
suppositories
16 million
pouches
54 million
liquid and powder-filled bottles
Import
Countries: Europe, the Far
East and the United States of America
International
Suppliers:
·
Danippon
Pharmaceutical Co Ltd Japan
·
Tanabe
Seiyaku Co Ltd Japan
Export Countries: Bahrain, Qatar, United Arab Emirates, Oman,
Kuwait, Yemen, Jordan, Syria, Egypt, Sudan, Libya and Algeria
Subject has a
workforce of approximately 380 employees.
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
Riyad
Bank
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-11) 4013030
·
Arab
National Bank (ANB)
King Faisal Street
PO Box: 56921
Riyadh 11564
Tel: (966-11) 4029000
Fax: (966-11) 4027747
·
Al Bank
Al Saudi Al Fransi
Mather Road
PO Box: 56006
Riyadh 11554
Tel: (966-11) 4042222
Fax: (966-11) 4042311
No complaints
regarding subject’s payments have been reported.
Recommended
credit limit: US$ 750,000
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.