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Report No. : |
341818 |
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Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
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Name : |
JAMJOOM
PHARMACEUTICALS CO LTD |
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|
|
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Registered Office : |
Industrial City, Phase 5, Plot 1-3 6267 Jeddah 21442 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
4030154596,
Jeddah |
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|
|
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Legal Form : |
Limited Liability
Partnership |
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|
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Line of Business : |
Subject is Engaged in the manufacture of pharmaceuticals specialising in the following areas: ·
Ophthalmology ·
Derma ·
Infection ·
Gastrointestinal ·
Cardiovascular ·
General Medicine |
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|
|
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No. of Employee : |
500 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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, telecommuncations, 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. In 2014 the Kingdom ran its first budget deficit since 2009, and faces budget deficits for the foreseeable future because it requires an oil price greater than $100 per barrel to balance its budget. Although the Kingdom can finance high deficits for several years by drawing down its considerable foreign assets or borrowing, it probably will begin to reduce capital spending if oil prices stay low through the next year.
|
Source
: CIA |
Company Name : JAMJOOM
PHARMACEUTICALS CO LTD
Doing Business As
: JAMJOOM PHARMA
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Start Date :
2000
Registration Date : 28th
March 2005
Commercial
Registration Number :
4030154596, Jeddah
Membership Number : 103578
Issued Capital : SR
100,000,000
Paid up Capital : SR
100,000,000
Total Workforce : 500
Activities :
Manufacturers of pharmaceuticals.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
JAMJOOM PHARMACEUTICALS
CO LTD
JAMJOOM PHARMA
Location : Industrial City, Phase 5, Plot 1-3
PO Box : 6267
Town : Jeddah 21442
Country : Saudi Arabia
Telephone : (966-12) 6081111
Facsimile : (966-12) 6081222
Email : jpharma@jamjoompharma.com
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Jeddah.
Branch Office
(s)
Location Description
·
Jamjoom Building Owned
sales office
Corniche Road
Al
Hamra District
Jeddah
Tel:
(966-12) 6140099
Fax:
(966-12) 6140088
·
Khalidiya Building Rented
sales office
Al Kazaan Street
PO
Box: 20167
Riyadh
11455
Tel:
(966-11) 2766775
Fax:
(966-11) 4065050
·
Ansary Building, 2nd Floor,
Office 206 Rented
sales office
Dhahran Street
PO
Box: 205
Al
Khobar
Tel:
(966-13) 8948582
Fax:
(966-13) 8948583
·
Sayed Shohada Street Rented
sales office
Madinah
Tel: (966-50) 6097041
Fax:
(966-14) 8151006
·
Khamis Mushait Rented
sales office
Tel: (966-17) 2212862
Fax:
(966-17) 2204718
·
Alooz
Street Rented
sales office
Makkah
Tel: (966-50) 0764712
·
Al
Rajhi Building Rented
sales office
Buraidah
Qassim
Tel: (966-55) 5245153
·
Jazan
Building Rented
sales office
Jazan
Tel: (966-50) 8484746
·
Al
Majeed Building Rented
sales office
Al Ahsa
Hofuf
Tel: (966-54) 0373059
Name Position
·
Sheikh
Yousuf Mohamed Saleh Jamjoom Managing
Partner
·
Sheikh
Walid Yousuf Mohamed Saleh Jamjoom Partner
·
Sheikh
Mahmoud Yousuf Mohamed Saleh Jamjoom Partner
·
Noor
Sherif General
Manager
·
Anwar
Mohiddine Finance
Manager
·
Dr
Wajih Al Boukol Commercial
Manager
·
Hisham Sayed Export
Manager
·
Ahmed
Kari Human
Resources Manager
·
Abdullah
Al Zahrani Financial
Controller
Date of Establishment : Subject’s
operations date back to 2000, however it was registered on 18/02/1426 Hijri
(corresponding to 28th March 2005)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030154596,
Jeddah
Membership No. :
103578
Issued Capital : SR 100,000,000
Paid up Capital : SR 100,000,000
·
Sheikh Yousuf
Mohamed Saleh Jamjoom
·
Sheikh
Walid Yousuf Mohamed Saleh Jamjoom
·
Sheikh
Mahmoud Yousuf Mohamed Saleh Jamjoom
Subject is a member of the Jamjoom Group of Companies, which consists of
the following concerns:
·
Jamjoom
Medicine Store
Jamjoom Building, 1st
Floor
Sheikh Abdul Wahab
Street
Alammariyyah District
PO Box: 935
Jeddah 21421
Tel: (966-12) 6422463 / 6422563
Fax: (966-12) 6440964
Email: jpharma@saudionline.com.sa
·
Depot Pharmacentique
Du Moyen Orient
PO Box: 415
Jeddah 21411
Tel: (966-12) 6431711
Fax: (966-12) 6444700
·
Jamjoom
General Agencies
PO Box: 2127
Jeddah 21451
Tel: (966-12) 6423195
Fax: (966-12) 6431832
Email: jga@jamjoom.com
·
Jamjoom
Vehicles & Equipment
Jamjoom Vehicles Building
Makkah Road, Kilo 5
PO Box: 1247
Jeddah 21431
Tel: (966-12) 6871876 / 6871708
Fax: (966-12) 6872710 / 6879652
Email: jve@jamjoom.com
·
Jamjoom
Metal Industries
·
Jeddah
Trident
·
Jamjoom
Advanced Technology
Activities: Engaged in the manufacture of
pharmaceuticals specialising in the following areas:
-
Ophthalmology
-
Derma
-
Infection
-
Gastrointestinal
-
Cardiovascular
-
General Medicine
Import Countries: Germany, Italy, Sweden, Finland,
Switzerland, United Kingdom and the United States of America
International
Suppliers:
· Bausch
& Strobel Germany
· Diessel Germany
· Romaco
Koruma Germany
· IWKA Germany
· Killian Germany
· Kramer Germany
· Robert
Bosch Germany
· Zair Germany
· Uhlmann Germany
· Garvens Germany
· Links Germany
· Optrel Italy
· Gordic Sweden
· Getinge Sweden
· Finn
Aqua Finland
· Glatt Switzerland
· Elga United
Kingdom
· Fristam United States of
America
Subject has a
workforce of approximately 500 employees.
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-12) 6434777
Fax: (966-12) 6441686
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.65.62 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
|
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.