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Report No. : |
315341 |
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Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SHAPHACO PHARMACEUTICALS INDUSTRIES |
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|
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Registered Office : |
Mohamed Al Dora Street (South Sixty Street), Attan Area, PO Box: 3073
& 10128, Sana’a |
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Country : |
Yemen |
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Year f Establishment : |
1993 |
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|
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Com. Reg. No.: |
767, Sana’a |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the manufacture of pharmaceutical preparations, including tablets, capsules, syrups, ointments, creams and gels |
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No. of Employee : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1,500,000 |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Yemen |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
YEMEN - ECONOMIC OVERVIEW
Yemen is a low income country that is highly dependent on declining oil resources for revenue. Petroleum accounts for roughly 25% of GDP and 63% of government revenue. Yemen has tried to counter the effects of its declining oil resources and continuing attacks on its oil pipelines by diversifying its economy through an economic reform program initiated in 2006 that is designed to bolster non-oil sectors of the economy and foreign investment. In October 2009, Yemen exported its first liquefied natural gas as part of this diversification effort. In January 2010, the international community established the Friends of Yemen group that aims to support Yemen's efforts toward economic and political reform. In 2012, the Friends of Yemen pledged nearly $7 billion in assistance to Yemen. The Yemeni Government also endorsed a Mutual Accountability Framework to facilitate the efficient implementation of donor aid. The unrest that began in early 2011 caused GDP to plunge almost 11% in 2011. Availability of basic services, including electricity, water, and fuel, has improved since the transition, but progress toward achieving more sustainable economic stability has been slow and uneven. Yemen continues to face difficult long-term challenges, including declining water resources, high unemployment, severe food scarcity, and a high population growth rate.
|
Source
: CIA |
Company Name :
SHAPHACO PHARMACEUTICALS INDUSTRIES
Country of Origin :
Yemen
Legal Form :
Limited Liability Partnership
Registration Date :
1993
Commercial Registration Number :
767, Sana’a
Issued Capital :
YR 2,500,000,000
Paid up Capital :
YR 2,500,000,000
Total Workforce :
250
Activities :
Manufacture of pharmaceutical preparations
Financial Condition :
Good
Payments :
Regular
Operating Trend :
Steady
Person Interviewed :
Abdul Wasee Al Shiba, Finance Manager
Recommended Credit Limit : US$ 1,500,000
SHAPHACO
PHARMACEUTICALS INDUSTRIES
Location : Mohamed Al
Dora Street (South Sixty Street), Attan Area
PO Box : 3073 &
10128
Town : Sana’a
Country : Yemen
Telephone : (967-1) 200622
/ 200620 / 200623 / 206202 / 402214
Facsimile : (967-1) 200623
/ 402612
Mobile : (967-77) 112952
Email : marketing@shaphaco.net
/ shaphaco@y.net.ye / finance@shaphaco.net
Subject operates from a large suite of offices and a factory that are
owned and located in the Suburban Business Area of Sana’a.
Branch Office (s)
Location Description
· Ibb Sales
Office
Tel: (967-4)
429908
· Al Hodeidah Sales
Office
Tel: (967-3)
201259
· Taiz Sales
Office
Tel: (967-4)
250630
· Aden Sales
Office
Tel: (967-2)
387796
· Haja Sales
Office
Tel: (967-7)
224186
· Dhamar Sales
Office
Tel: (967-6)
512980
· Maarib Sales
Office
Tel: (967-6)
301875
· Amran Sales
Office
Tel: (967-7)
304014
· Hadhramout Sales
Office
Tel: (967-5)
307427
Name Position
· Ahmed Abdul Wahab
Al Shahari Managing
Partner
· Hassan Abdul Wahab
Al Shahari Partner
· Mohamed Abdul Wahab
Al Shahari Partner
· Fadel Ahmed Abdul
Wahab Al Shahari Partner
· Amer Ahmed Abdul
Wahab Al Shahari Partner
· Abdul Wasee Al
Shiba Finance
Manager
· Dr Mohamed Aysha Technical
Manager
· Farooq Mujahid Export
Manager
· Anas Salam Al
Wadah Purchasing
Manager
Date of
Establishment : 1993 (Full
production began in 1998)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 767, Sana’a
Issued Capital : YR 2,500,000,000
Paid up Capital : YR 2,500,000,000
· Ahmed Abdul Wahab
Al Shahari
· Hassan Abdul Wahab
Al Shahari
· Mohamed Abdul
Wahab Al Shahari
· Fadel Ahmed Abdul
Wahab Al Shahari
· Amer Ahmed Abdul
Wahab Al Shahari
Activities: Engaged in the manufacture of pharmaceutical preparations, including
tablets, capsules, syrups,
ointments, creams and gels.
Import Countries: China, India and Europe
Export Countries: Somalia, Eritrea, Sudan, Ethiopia, Tanzania and
GCC countries
Operating Trend: Steady
Subject has a workforce of approximately 250 employees.
Financial highlights provided by local sources are given below:
Currency: Yemeni Riyal (YR)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales YR 3,100,000,000 YR 3,385,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
National Bank of Yemen
PO Box: 5
Sana’a
Tel: (967-1) 253484
Fax: (967-1) 255004
No complaints regarding subject’s payments have been reported.
Established in 1993, subject is involved in the manufacture of
pharmaceutical preparations, including tablets, capsules, syrups, ointments,
creams and gels.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.51 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
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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.