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Report Date : |
27.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MEDICAL AND
COSMETIC PRODUCTS COMPANY LTD (MCPC) |
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Registered Office : |
3rd
Industrial Area, P O Box: 140, Riyadh 11383, 442, Riyadh 11411, Riyadh |
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Country : |
Saudi Arabia |
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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,
Riyadh |
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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 |
|
|
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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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 – 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 : 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
Person Interviewed : Dr. Nedal Hosari, Factory 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 / husari@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
·
Abdullah
Al Shareef General
Manager
·
Dr Nedal Hosari Factory
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 1,000,000,000
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, France, India and Japan.
International Suppliers:
·
Cipla India
·
Dr Reddy India
·
Sun Chemicals India
·
Torrent Pharma India
·
Glenmark India
·
Somotumo Japan
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 300,000,000 SR 330,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Dr Nedal Hosari, Factory Manager
·
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
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.61.24 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
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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 |
|
|
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 |
|
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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 |
|
|
<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.