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Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
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Name : |
JORDAN INDIA FERTILIZER COMPANY LLC (JIFCO) |
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Registered Office : |
Oyoum Commercial
Complex, 5th Floor, |
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Country : |
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Year of Establishment : |
2009 |
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Com. Reg. No.: |
5/140886 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Producers of chemical based fertilizers |
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No. of Employees : |
45 |
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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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 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : JORDAN INDIA FERTILIZER COMPANY LLC (JIFCO)
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 2009
Commercial Registration Number : 5/140886
Issued Capital : JD 20,000,000
Paid up Capital : JD 20,000,000
Total Workforce : 45
Activities : Producers of chemical based fertilizers.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Niji Jeffi, Administration Manager
JORDAN INDIA
FERTILIZER COMPANY LLC (JIFCO)
Registered &
Physical Address
Building : Oyoum Commercial Complex, 5th
Floor
Street : 98 Wasfi Al Tal Street
PO Box : 2571
Town : Amman 11821
Country : Jordan
Telephone : (962-6) 5603060 / 5603061
Facsimile : (962-6) 5603062 / 5603068
Mobile : (962-79) 7144585
Email : mdjifco.jo@gmail.com / nrksinha.jo@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Name Position
·
Walid
Al Kurdi Chairman
·
Chandra
P Srivasta Managing
Director
·
Sanjay
Pande Finance
Manager
·
C
Santosh Project
Manager
·
N R K
Sinha Procurement
Manager
·
Niji
Jeffi Administration
Manager
Date of Establishment : 2009
Legal Form :
Limited Liability Company
Commercial Reg. No. : 5/140886
Issued Capital : JD 20,000,000
Paid up Capital : JD 20,000,000
Name of Partner (s) Percentage
·
Indian
Farmers Fertilizers Limited (IFFCO) 52%
·
Jordan
Phosphate Mines Co (JPMC) 48%
Activities: Engaged in the production of chemical based
fertilizers. Subject is still in the process of constructing its factory
and has not yet started production. Once fully active subject’s factory will
have a production capacity of
475,500 metric tons per year.
The bulk of the phosphoric acid will be exported to India to be used as feedstock for IFFCO’s Kandla fertilizer plant in Gujarat state. The Project will include a greenfield phosphoric acid manufacturing complex in Eshidiya and a storage tank farm in Aqaba to facilitate export of phosphoric acid via Aqaba port.
The total project cost is estimated at about US$ 681 million.
Subject has a
workforce of 45 employees.
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.
·
Jordan
National Bank
Jabal Amman Branch
PO Box: 1578
Amman 11118
Tel: (962-6) 5642391
Fax: (962-6) 5628809
·
Arab
Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
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.53.34 |
|
UK Pound |
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
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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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.