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Report No. : |
322205 |
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Report Date : |
15.05.2015 |
IDENTIFICATION DETAILS
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Name : |
MAJAL PHARMACEUTICAL CO |
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Registered Office : |
Zahran Plaza, 2nd Floor, Office No. 203, Zahran Street, PO
Box 142907, Amman 11844 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
03.06.2010 |
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Com. Reg. No.: |
1617 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of pharmaceuticals. |
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No. of Employees : |
65 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Jordan |
B1 |
B1 |
|
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 |
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Off-credit |
D |
JORDAN - ECONOMIC OVERVIEW
Jordan's economy is among the smallest in the Middle East,
with insufficient supplies of water, oil, and other natural resources
underlying the government's heavy reliance on foreign assistance. Other
economic challenges for the government include chronic high rates of poverty,
unemployment, inflation, and a large budget deficit and resulting government
debt. King ABDALLAH during the 2000s implemented significant economic reforms,
such as opening the trade regime and privatizing state-owned companies, that
attracted foreign investment and contributed to average annual economic growth
of 8% for 2004 through 2008. The global economic slowdown and regional turmoil
since, however, reduced the average annual growth rate to 2.6% for the
2010-2013 period and hurt export-oriented sectors, construction, and tourism.
Jordan's finances have been strained by a series of natural gas pipeline
attacks in Egypt, causing Jordan to substitute more expensive diesel imports,
primarily from Saudi Arabia, to generate electricity. To diversify its energy
mix, Jordan is currently exploring nuclear power generation, exploitation of
abundant oil shale reserves and renewable technologies, as well as the import
of Israeli offshore gas. In August 2012, to correct budgetary and balance of
payments imbalances, Jordan entered into a $2.1 billion, three year
International Monetary Fund Stand-By Arrangement. In 2014, fiscal reform
measures enacted in the previous few years continued to boost government
revenues and reduced the budget deficit even as an influx of over 620,000
Syrian refugees since 2011 put additional pressure on expenditures.
|
Source
: CIA |
Company Name :
MAJAL PHARMACEUTICAL CO
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
3rd June 2010
Commercial Registration Number :
1617, Amman
Membership Number :
162541
Issued Capital :
JD 100,000
Paid up Capital :
JD 100,000
Total Workforce : 65
Activities :
Manufacturers of pharmaceuticals
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Nada Daana, Financial Controller
MAJAL PHARMACEUTICAL CO
Registered &
Physical Address
Building :
Zahran Plaza, 2nd Floor, Office No. 203
Street : Zahran
Street
PO Box : 142907
Town : Amman 11844
Country : Jordan
Telephone : (962-6) 5810703
/ 5827999 / 5810727
Facsimile : (962-6)
5820876
Mobile : (962-79)
6679977
Email : mr.odat@yahoo.com
/ nada.daana@mspharma.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Amman.
Name Position
Ghaith Munir Sukhtain Managing
Director
Ghassan Aqeel Sukhtain Director
Munjed Sukhtain Director
Emaad Qaqaish Chief
Financial Officer
Nada Daana Financial
Controller
Date of Establishment : 3rd
June 2010
Legal Form : Limited Liability
Company
Commercial Reg. No. : 1617, Amman
Membership No. : 162541
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Name of
Shareholder (s)
Ghaith Munir Sukhtain
Ghassan Aqeel Sukhtain
Munjed Sukhtain
Al Maseera
International Co
Amman
Arabian Office Automation Company Ltd
Beit Jala Pharmaceutical Manufacturing (BJP)
Exir LLC
Households & Toiletries Manufacturing Co
Jordan Greenhouses Manufacturing Co Ltd (Rayyan)
Munir Sukhtian Trading Group Co Ltd
Sukhtian Industrial Trading (SIT)
Tabuk Pharmaceutical Manufacturing Company
United Pharmaceuticals Manufacturing Co Ltd (UPM)
Activities: Engaged in the manufacture of pharmaceuticals.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 65 employees.
Financial highlights provided by local sources are given below:
Currency: Jordanian Dinars (JD)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales JD
3,100,000 JD
3,450,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Arab Jordan Investment Bank
Ibn Hani Street
Shmeisani
PO Box: 8797
Amman 11121
Tel: (962-6) 5607126 / 5607138
Fax: (962-6) 5681482 / 5690646
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.63.84 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
-- |
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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.