MIRA INFORM REPORT

 

 

Report Date :

28.02.2012

 

IDENTIFICATION DETAILS

 

Name :

JANA JUBAIL CHEMICAL INDUSTRIES CO

 

 

Registered Office :

Road No. 263, Cross No. 198 & 218 Jubail Industrial Area PO Box 10661 Jubail 31961

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

04.07.1999

 

 

Com. Reg. No.:

2055004384, Jubail

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of epoxy and resins.

 

 

No. of Employees :

500

 

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$ 250,000

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Saudi Arabia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     JANA JUBAIL CHEMICAL INDUSTRIES CO

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 4th July 1999

Commercial Registration Number                        2055004384, Jubail

Issued Capital                                        : SR 666,000,000

Paid up Capital                                      : SR 666,000,000

Total Workforce                                     : 500

Activities                                               : Manufacture of epoxy and resins.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 250,000

 

COMPANY NAME

 

 JANA JUBAIL CHEMICAL INDUSTRIES CO

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Road No. 263, Cross No. 198 & 218

Area                 : Jubail Industrial Area

 

PO Box             : 10661

 

Town                 : Jubail 31961

Country             : Saudi Arabia

 

Telephone         : (966-3) 3585002 / 3478888

Facsimile          : (966-3) 3583792 / 3476705

Email                : sales@jana-ksa.com

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Rashid Al Dossary                                                                            General Manager

 

·       T Nagrajan                                                                                        Operations Manager

 

·       Mohsin Al Kathirim                                                                            Financial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21/03/1420 Hijri (corresponding to 4th July 1999)

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 2055004384, Jubail

 

Issued Capital              : SR 666,000,000

 

Paid up Capital            : SR 666,000,000

 

Name of Shareholder (s)                                             Percentage

 

·       Nama Chemicals Co (NAMA)                                     100%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of epoxy and resins.

 

By June 2012, subject plans to add another 60,000 metric tons capacity to its existing plant that will grow to 120,000 metric tons eventually rising to 240,000 by 2017.

 

Production Capacity: 60,000 MT per year

 

Export Countries: Finland, Scandinavia, Germany, Brazil, Iran, Egypt, Jordan, Pakistan, Syria and Turkey.

 

Brand Names: ARALDITE and RAZEEN

 

Subject has a workforce of approximately 500 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

·       National Commercial Bank

PO Box: 58

Jubail 51951

Tel: (966-3) 3612896

Fax: (966-3) 3611750

 

 

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.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.05

UK Pound

1

Rs.77.78

Euro

1

Rs.65.89

 

 

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.