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Report No. : |
316519 |
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Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
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Name : |
TABUK
PHARMACEUTICAL MANUFACTURING CO LTD (TPMC) |
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Registered Office : |
Madinah Road, 3844
Highway, Unit No. 1, Abu Roshaid Area, P O Box 3844, Tabuk 47532 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Year of Establishments : |
1994 |
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Com. Reg. No.: |
3550012995, Tabuk |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· Engaged in the production and distribution of pharmaceutical products, including tablets, capsules, suspensions, syrups, injectables, drops, emulsions and sprays. ·
Subject operates in multiple therapeutic areas
including CNS, cardiovascular, anti-infectives, respiratory and muscular
skeletal systems. |
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No of Employees : |
650 (Approximately) |
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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Status : |
Good |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Saudi
Arabia |
a2 |
a2 |
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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.
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Source
: CIA |
Company Name : TABUK PHARMACEUTICAL MANUFACTURING CO LTD (TPMC)
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 1994
Commercial Registration Number : 3550012995, Tabuk
Chamber Membership Number : 6612
Issued Capital : SR 180,000,000
Paid up Capital : SR 180,000,000
Total Workforce : 650 (Approximately)
Activities : Production and distribution of pharmaceutical products
Financial Condition : Good
Payments : No Complaints
Operating Trend : Steady
Person Interviewed : Khalil Abdul Jabar, Chief Financial Officer
TABUK PHARMACEUTICAL MANUFACTURING CO LTD
(TPMC)
Registered &
Physical Address
Location : Madinah Road, 3844 Highway, Unit
No. 1
Area : Abu Roshaid Area
PO Box : 3844
Town : Tabuk 47532
Country : Saudi Arabia
Telephone : (966-14) 4283030
Facsimile : (966-14) 4283031
Mobile : (966-54) 3503418 / (966-53)
6000455
Email : tpmc@nournet.com.sa / mousagaswani@tpmc.com.sa
/
wael.alzahrani@tabukpharmaceuticals.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Tabuk.
Branch Office (s)
Location Description
·
Industrial
Area Office
premises
PO Box: 28170
Riyadh 11437
Tel: (966-11) 4783789 / 4774946
Fax: (966-11) 4782686
·
Saraya
Tower Office
premises
PO Box: 9531
Dammam 31423
Tel: (966-13) 8341412
Fax: (966-13) 8339092
·
Al
Mohamadiah Plaza Office
premises
Al Madina Street
PO Box: 18791
Jeddah 21425
Tel: (966-12) 6525645
Fax: (966-12) 6525647
·
PO Box:
142904 Office
premises
Amman 11844
Jordan
Tel: (962-6) 5827999
Fax: (962-6) 5815942
Name Position
·
Ghaith Sukhtian Managing
Director
·
Hamad
Abdulaziz Al Khomais Director
·
Mohamed
Taha Al Kharoobi Director
·
Ismail Bashir Chief
Executive Officer
·
Akef Al Sediri Assistant
General Manager
·
Raed Samadi Human
Resources Manager
·
Mysara Rabah Technical
Manager
·
Khalil Abdul Jabar Chief
Financial Officer
·
Wael Al Zahrani Administration
Manager
·
Santos Joseph Accountant
Date of Establishment : 1994
Legal Form :
Limited Liability Company
Commercial Reg. No. : 3550012995,
Tabuk
Chamber Member No. : 6612
Issued Capital : SR 180,000,000
Paid up Capital : SR 180,000,000
Name of Shareholder
(s) Percentage
·
Astra Industrial Group (AIG) 95%
Riyadh
·
Astra Industrial Complex Co Ltd 5%
Riyadh
·
Munir
Sukhtian Group Company
PO Box: 1027
Abdali Area
Amman 11118
Jordan
Tel: (962-6) 5688888
Fax: (962-6) 5601568
Email: info@sukhtian.com.jo
·
Astra
Industrial Complex for Fertilizer & Agrochemicals Ltd
Sitteen Street
PO Box: 54061
Riyadh 11514
Tel: (966-11) 4772346
Fax: (966-11) 4782102
Email: astrachem@nournet.com
·
Astra
Agricultural Co Ltd
Sitteen Street
PO Box: 54061
Riyadh 11514
Tel: (966-11) 4772346
Fax: (966-11) 4782102
·
National
Metal Industries Co Ltd
New Industrial Area
PO Box: 1737
Riyadh 11441
Tel: (966-11) 4982572
Fax: (966-11) 4982580
·
Arab
Supply & Trading Corporation (ASTRA)
Sitteen
Street
Malaz
PO Box: 3863
Riyadh 11481
Tel: (966-11) 4776017 / 4771488
Fax: (966-11) 4780679
·
Saudi
Mais Co for Medical Products
PO Box: 42801
Riyadh 11551
Tel: (966-11) 4983739
Fax: (966-11) 4983739
·
Al Mona
Company
PO Box: 41197
Riyadh 11521
Tel: (966-11) 4981687
·
Saudi
Mais Co for Irrigation Systems Ltd
PO Box: 42801
Riyadh 11551
Tel: (966-11) 4982779
Fax: (966-11) 4983739
·
Astra
Caravan Co Ltd
PO Box: 54061
Riyadh 11514
·
Astra
Transport
PO Box: 54061
Riyadh 11514
·
Astra
Pharma
PO Box: 54061
Riyadh 11514
Activities: Engaged in the production and distribution
of pharmaceutical products, including tablets, capsules,
suspensions, syrups,
injectables, drops, emulsions and sprays. Tabuk Pharmaceuticals operates in
multiple therapeutic areas
including CNS, cardiovascular, anti-infectives, respiratory and muscular
skeletal systems.
Annual
Production Capacities:
·
Tablets 500,000,000
·
Injections 14,000,000
·
Capsules 250,000,000
·
Suspensions
5,000,000
·
Syrups 71,000,000
·
Drops 5,000,000
·
Emulsions 5,000,000
·
Sprays 3,000,000
Import
Countries: Germany, Japan,
South Korea, and the United States of America
Brand Names: TPMC
Operating Trend: Steady
Subject has a
workforce of approximately 650 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Revenue SR 666,700,000 SR
950,000,000
Local sources consider
subject’s financial condition to be Good.
The above figures
were provided by Mr Khalil Abdul Jabar,
Chief Financial Officer
·
Riyad
Bank
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-11) 4013030
·
Arab
National Bank (ANB)
King Faisal Street
North Morabbaa
PO Box: 56921
Riyadh 11564
Tel: (966-11) 4029000
Fax: (966-11) 4027747
Acc No. 01160000217400
No complaints
regarding subject’s payments have been reported.
Amount overdue 0 0
Payment terms 90
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Euros Euros
Tabuk
Pharmaceutical Manufacturing Co Ltd (TPMC) was established in 1994 and is a
leading producer of medicines in the Kingdom of Saudi Arabia. It has an
excellent reputation for the quality of its work and deals with the Saudi
Ministry of Health on a regular basis.
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.62.33 |
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UK Pound |
1 |
Rs.92.53 |
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Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
SDA |
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 |
-- |
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.