MIRA INFORM REPORT

 

 

Report No. :

504545

Report Date :

26.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

UNITED PHARMA

 

 

Registered Office :

Salamyah Road Sihlah Hama

 

 

Country :

Syria

 

                                    

Financials (as on) :

2017 (Summarized)

 

 

Date of Incorporation :

05.07.2010

 

 

Legal Form :

Limited Corporation

 

 

Line of Business :

Subject operate as a pharmaceutical manufacturing company

 

 

No. of Employees :

2500

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Syria

D

D

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SYRIA - ECONOMIC OVERVIEW

 

Syria's economy has deeply deteriorated amid the ongoing conflict that began in 2011, declining by more than 70% from 2010 to 2017. The government has struggled to fully address the effects of international sanctions, widespread infrastructure damage, diminished domestic consumption and production, reduced subsidies, and high inflation, which have caused dwindling foreign exchange reserves, rising budget and trade deficits, a decreasing value of the Syrian pound, and falling household purchasing power. In 2017, some economic indicators began to stabilize, including the exchange rate and inflation, but economic activity remains depressed and GDP almost certainly fell.

During 2017, the ongoing conflict and continued unrest and economic decline worsened the humanitarian crisis, necessitating high levels of international assistance, as more than 13 million people remain in need inside Syria, and the number of registered Syrian refugees increased from 4.8 million to more than 5.4 million.

Prior to the turmoil, Damascus had begun liberalizing economic policies, including cutting lending interest rates, opening private banks, consolidating multiple exchange rates, raising prices on some subsidized items, and establishing the Damascus Stock Exchange, but the economy remains highly regulated. Long-run economic constraints include foreign trade barriers, declining oil production, high unemployment, rising budget deficits, increasing pressure on water supplies caused by heavy use in agriculture, rapid population growth, industrial expansion, water pollution, and widespread infrastructure damage.

 

Source : CIA

 

Company NAME     

 

Registered Name:

UNITED PHARMA

Requested Name:

UNITED PHARMA

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Salamyah Road Sihlah Hama

Country:

Syria

Phone:

963-116132016

Fax:

963-116132017

Email:

marketing@un-pharma.com

Website:

None

 

 

CREDIT OPINION

 

 

Financial Index as of December 2017 shows subject firm with a medium risk of credit.

 

 

LEGAL

 

 

Legal Form:

Limited Corporation

Date Incorporated:

05-July-2010

Reg. Number:

Syria

Nominal Capital

SYP. 1,000,000

Subscribed Capital

SYP. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Zeyad Almthqal

MD

 

Monzer Moneer Shnaf

Director

 

Khaled Mouloud Haj Mohamed

Director

 

 

 

RELATED COMPANIES

 

 

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

None

Shareholder of subject firm.

None

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as a pharmaceutical manufacturing company

Imports:

Middle East

Exports:

None

Trademarks:

None

Terms of sale:

Cash (50%) and 25-90 days (50%), invoices.

 

 

Main Customers:

Medical firms and organizations  

Employees:

2500 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Syria

Location:

Owned premises, 20,000 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

 

FINANCE

 

 

Currency Reported:

Syrian Pound (SYP.)

Fiscal Year End:

December 31, 2017

Inflation:

According to information given by independent sources, the inflation at December 31st, 2017 was of 13%.

 

Financial Information not Submitted

 

 

 

 

 

Profit and Loss (expressed in SYP.)

 

 

2017

Sales

 

4,500,000,000

 

 

BANK

 

 

Bank Name:

Syria International Islamic Bank

Branch:

Syria

Comments:

None

 

 

 

TRADE REFERENCES

 

 

Experiences:

Good

 

 

 

NOTARIAL BONDS

 

 

None

 

 

 

COMMENTS / ADDITIONAL INFORMATION

 

This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.70

UK Pound

1

INR 93.14

Euro

1

INR 81.43

SYP

1

INR 0.13

                                                                  

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

TRU

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.