MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
NATIONAL AMMONIA & CHEMICAL INDUSTRIES CO LTD |
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Registered Office : |
El Basateen
Street, Al Yadoudeh Area, PO Box
830138, Amman 11183 |
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Country : |
Jordan |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
2761, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of a wide range of
Agrochemicals and Speciality Fertilizers |
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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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : NATIONAL AMMONIA & CHEMICAL INDUSTRIES CO LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 1992
Commercial Registration Number : 2761, Amman
Issued Capital : JD 1,700,000
Paid up Capital : JD 1,700,000
Total Workforce : 150
Activities : Manufacture of a wide range of agrochemicals and speciality fertilizers
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
NATIONAL AMMONIA
& CHEMICAL INDUSTRIES CO LTD
ADDRESS
Registered & Physical Address
Street : El Basateen Street
Area : Al Yadoudeh Area
PO Box : 830138
Town : Amman 11183
Country : Jordan
Telephone : (962-6) 4601419 / 4659996
Facsimile : (962-6) 4659944
Email : nashamm@migoc.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Amman.
KEY PRINCIPALS
Name Position
·
Hani
K Hunidi Chairman
·
George
M Mashhor Vice
Chairman
·
Saeed
S Hunidi Director
·
M.
Ranshen Director
·
Abdo
H Kaseer Director
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Bashar
S El Hunidi Director
·
Ayman
Sabha General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1992
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2761, Amman
Issued Capital : JD 1,700,000
Paid up Capital : JD 1,700,000
Name of Shareholder (s) Percentage
· Societe Commerciale des Potasses
et de l’Azote (SCPA) 25%
2, Place du Général de Gaulle
68100 Mulhouse
France
Tel: (33-3) 89363666
Fax: (33-3) 89354572
·
Mediterranean
Industries ]
] 75%
·
Private
investors ]
OPERATIONS
Activities: Engaged in the manufacture
of a wide range of agrochemicals and speciality fertilizers.
Subject’s fertiliser range includes the following types;
clear liquid, suspension, emulsion, water-soluble, granular dry blend, powder
slow release, high purity phosphoric acid for agricultural and chemical
industry uses, and aqua ammonia and ammonia gas cylinder filling for industrial
use.
Import
Countries: Belgium and
Turkey
Subject has a
workforce of approximately 150 employees.
FINANCIAL DATA
Companies
registered in Jordan are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Arab Bank Plc
Shmeisani Branch
PO Box : 950545 & 950544
Amman 11195
Tel : (962-6) 5607231 / 5607115
Fax : (962-6) 5606793 / 5606830
Email : secretariat@arabbank.com.jo
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction March
2006
Credit amount 43,000
Amount overdue 0
Payment terms 180
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
National Ammonia
& Chemical Industries Co Ltd has made steady progress in the market since
its inception in 1992. It is engaged in the
manufacture of a wide range of agrochemicals and specialty fertilizers.
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.30 |
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UK Pound |
1 |
Rs.86.13 |
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Euro |
1 |
Rs.68.72 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)