|
Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEEF PHARMACEUTICAL INDUSTRIES CO |
|
|
|
|
Registered Office : |
King Abdul Aziz
Road, Al Badaye, P O Box: 6, Al Qassim 51951 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.07.1431 Hijri (Corresponding to 19th
June 2010) |
|
|
|
|
Com. Reg. No.: |
1129000733, Al
Qassim |
|
|
|
|
Legal Form : |
Closed Shareholding Company |
|
|
|
|
Line of Business : |
Manufacture of
medicines and pharmaceuticals, including antiseptics, oral liquids,
semi-solids and oral solid dosage forms. |
|
|
|
|
No. of Employees : |
175 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : DEEF
PHARMACEUTICAL INDUSTRIES CO
Country of Origin : Saudi
Arabia
Legal Form : Closed Shareholding Company
Registration Date : 19th
June 2010
Commercial
Registration Number :
1129000733, Al Qassim
Issued Capital : SR
95,000,000
Paid up Capital : SR
95,000,000
Total Workforce :
175
Activities :
Manufacture of medicines and pharmaceuticals
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Feras Othman, Finance Manager
DEEF PHARMACEUTICAL
INDUSTRIES CO
Street : King Abdul Aziz Road
Area : Al Badaye
PO Box : 6
Town : Al Qassim 51951
Country : Saudi Arabia
Telephone : (966-16) 3323333
Facsimile : (966-16) 3324444
Email : info@deef.com
/ f.othman@deef.com
Subject operates
from a suite of offices and a factory, covering 6,000 square metres that are
rented and located in the Industrial Area of Al Qassim.
Branch Office
(s)
Location Description
·
Room No. 408, Al Rosais Building Office
premises
Dhahab Street
PO Box: 221313
Riyadh 11311
Tel: (966-11) 4027575 / 4028585
Fax: (966-11) 4028585
Name Position
·
Yousef
Abdullatif Al Sofyan Banja Chairman
·
Dr
Yousef Abdullah Al Oraini Vice
Chairman
·
Ayman
Bin Hamid Bin Ali Al Hamdallah Director
·
Dr
Ibrahim Abdul Karim Al Makhadi Director
·
Feras Othman Finance
Manager
·
Khalid
Al Oraini Human
Resources Manager
·
Dr
Khalid Abdul Hafez Marketing
Manager
Date of Establishment : 08/07/1431
Hijri (corresponding to 19th June 2010)
Legal Form :
Closed
Shareholding Company
Commercial Reg. No. : 1129000733,
Al Qassim
Issued Capital : SR 95,000,000
Paid up Capital : SR 95,000,000
·
Yousef
Abdullatif Al Sofyan Banja
·
Dr
Yousef Abdullah Al Oraini
·
Ayman
Bin Hamid Bin Ali Al Hamdallah
·
Dr
Ibrahim Abdul Karim Al Makhadi
Activities: Engaged in the manufacture of medicines and
pharmaceuticals, including antiseptics, oral liquids, semi-solids and oral
solid dosage forms.
In April 2014
subject signed an agreement with Venture Life Group Plc covering haemorrhoids
treatment Procto-eze, head-lice treatment Immobilice, and two gum pain products
in its Guma-eze range. Subject has exclusive distribution rights for the
products in Saudi Arabia for five years.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of 175 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/13:
Total Sales SR
65,000,000
Local sources
consider subject’s financial condition to be Fair.
Subject is
estimating turnover for the year ending 31st December 2014 will be
SR 100,000,000.
The above figures
were provided by Mr Feras Othman,
Finance Manager
·
National
Commercial Bank
Malaz Branch
PO Box: 42536
Tel: (966-11) 4776450
Fax: (966-11) 4769502
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.61.25 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.