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Report No. : |
301754 |
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Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
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Name : |
BATTERJEE PHARMACEUTICALS FACTORY |
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Registered Office : |
Industrial Area, 4th Phase, PO Box 10667,
Jeddah 21443 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.03.2006 |
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Com. Reg. No.: |
4030160772 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of
pharmaceuticals products. |
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No. of Employee : |
102 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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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 :
BATTERJEE PHARMACEUTICALS FACTORY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
27th March 2006
Commercial Registration Number :
4030160772, Jeddah
Chamber Membership Number :
109655
Issued Capital :
SR 6,000,000
Paid up Capital :
SR 6,000,000
Total Workforce :
102
Activities :
Manufacture of pharmaceuticals products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Faisal Jan Mohamed,
Public Relations Manager
BATTERJEE PHARMACEUTICALS FACTORY
Registered &
Physical Address
Location : Industrial Area, 4th Phase
PO Box : 10667
Town : Jeddah 21443
Country : Saudi Arabia
Telephone : (966-2) 6089999
/ 6084444
Facsimile : (966-2)
6080909
Mobile : (966-56)
1931371
Email : group@batterjeepharma.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Jeddah.
Name Position
Sheikh Mazen Mohamed Batterjee Chairman
Mohamed Mazen
Mohamed Batterjee General
Manager
Tariq Othman Factory
Manager
Hosny Abdul Wareth Administration
Manager
Faisal Jan Mohamed Public
Relations Manager
Date of Establishment : 27/02/1427 Hijri (corresponding to 27th March 2006)
Legal Form : Limited Liability
Company
Commercial Reg. No. : 4030160772, Jeddah
Chamber Member No. : 109655
Issued Capital : SR 6,000,000
Paid up Capital : SR 6,000,000
Name of
Shareholders (s)
Batterjee Holding
Jeddah
Ebco Pharmaceutical
Co
Cairo
Egypt
Pharco
Pharmaceuticals
Alexandria
Egypt
Tel: (20-3) 4480720
/ 4480130 / 4480140 / 4480440
Fax: (20-3) 4486560 / 4486730
Batterjee Group
Industrial City, Phase 3, Plot No. 317
PO Box: 335 & 10667
Jeddah 21411
Tel: (966-12) 6380468
CR No. 4030131423
Activities: Engaged in the manufacture of pharmaceuticals
products.
Import Countries: India and Europe
Operating Trend: Steady
Subject has a workforce of 102 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
24,200,000 SR
25,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
Al Bank Al Saudi Al Fransi
Al Sharafiya Branch
Madinah Road
PO Box: 7888
Jeddah 21472
Tel: (966-12) 6605863
Arab National Bank (ANB)
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 6650202
National Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-12) 6434777
Fax: (966-12) 6441686
Saudi British Bank
PO Box: 109
Jeddah 21411
Tel: (966-12) 6512121
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.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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.