MIRA INFORM REPORT

 

 

Report Date :           

27.05.2011

 

IDENTIFICATION DETAILS

 

Name :

CHEMICAL & MINING INDUSTRIES CO LTD

 

 

Registered Office :

Building No. 69, 1st Floor, Medical City Street (King Abdullah II Street), P O Box 5255, Amman 11183

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.09.1993

 

 

Com. Reg. No.:

3307, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of chemicals, dry mix fertilizer, anti freeze, civil explosives for mining and excavation.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 750,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Jordan

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : CHEMICAL & MINING INDUSTRIES CO LTD

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 14th September 1993

Commercial Registration Number                        : 3307, Amman

National ID Number                                : 200000997

Issued Capital                                        : JD 1,500,000

Paid up Capital                                      : JD 1,500,000

Total Workforce                                     : 130

Activities                                               : Manufacturers of chemicals, dry mix fertilizer, anti freeze, civil

explosives for mining and excavation.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 750,000

Person Interviewed                                 : Fadli Ahmed, Finance Manager

 

COMPANY NAME

 

CHEMICAL & MINING INDUSTRIES CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Building No. 69, 1st Floor

Street               : Medical City Street (King Abdullah II Street)

PO Box             : 5255

Town                 : Amman 11183

Country             : Jordan

Telephone         : (962-6) 5336111 / 5157940

Facsimile          : (962-6) 5336110

Mobile               : (962-77) 7309703

Email                : manager.cmi@gmail.com / cmi@nets.com.jo / e.liswi@yahoo.com

 

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Amman.

 

Branch Offices

 

Subject has two mines located about 180 Km outside Amman in Al Hasa Area and Nama Area.

 

Please note that subject has no knowledge of the following address:

 

Muta Building, 1st Floor

Pouce College Street

Amman 11183

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Shafiq Khalil Farhan Zoydah                                                               Chairman

 

·       Dr Bassam Moosa Fakhouri                                                               Managing Director

 

·       Abdul Khaliq Mohamed Hassan Abu Al Haj                                         Director

 

·       Nabil Al Shami                                                                                  Director

 

·       Ayad Al Azzab                                                                                  Director

 

·       Fadli Ahmed                                                                                     Finance Manager

 

·       Enas Liwsi                                                                                        Foreign Trade Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 14th September 1993

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 3307, Amman

 

National ID No.            : 200000997

 

Issued Capital              : JD 1,500,000

 

Paid up Capital            : JD 1,500,000

 

Name of Shareholder (s)

 

·       Jordan Phosphate Mining Co

Amman

 

·       Jordan Cement Co

Amman

 

·       Middle East International General Trading Co

Amman

 

·       Jordan Dubai Islamic Bank

Amman

 

·       Shafiq Khalil Farhan Zoydah

 

·       Dr Bassam Moosa Fakhouri

 

·       Heirs of Antoine Debbane (Comidat Co)

 

·       Abdul Khaliq Mohamed Hassan Abu Al Haj

 

·       Nabil Al Shami

 

·       Ayad Al Azzab

 

·       Local businessmen and private investors

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of chemicals, dry mix fertilizer, anti freeze, civil explosives for mining and

     excavation.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 130 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Jordanian Dinars (JD)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                JD 6,210,000                             JD 6,950,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Fadli Ahmed, Finance Manager

 

 

BANKERS

 

·       Jordan National Bank

Queen Rania Street

PO Box: 19285

     Amman 11196

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.

 

The above credit figure is higher than transactions previously seen and a measure of caution would be prudent given the magnitude of the transaction.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.29

UK Pound

1

Rs.73.84

Euro

1

Rs.64.18

 

 

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%)

 

 

 

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.