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Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
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Name : |
MEDICAL SCIENTIFIC & CHEMICAL CORP LTD |
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Registered Office : |
Umm |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.06.1984 |
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Com. Reg. No.: |
1402, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of medical supplies and equipment |
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No. of Employees : |
32 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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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 |
Jordan - ECONOMIC OVERVIEW
Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government''s heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan''s GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 the government approved two economic relief packages and a budgetary supplement, largely to improve the living conditions for the middle and poor classes. Jordan''s finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive heavy fuel oils to generate electricity. An influx of foreign aid, especially from Gulf countries, has helped to somewhat offset these extrabudgetary expenditures, but the budget deficit is likely to remain high, at nearly 10% of GDP excluding grants. Amman likely will continue to depend heavily on foreign assistance to finance the deficit in 2012. Jordan''s financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan is currently exploring nuclear power generation to forestall energy shortfalls.
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Source : CIA |
Company Name : MEDICAL SCIENTIFIC & CHEMICAL CORP LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 21st June 1984
Commercial Registration Number : 1402, Amman
National ID Number : 200018206
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 32
Activities : Distributors of medical supplies and equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MEDICAL SCIENTIFIC
& CHEMICAL CORP LTD
Registered &
Physical Address
Street : Umm Summaq Street
Area : Mqablain
PO Box : 925125
Town : Amman 11190
Country : Jordan
Telephone : (962-6) 4205858
Facsimile : (962-6) 4205655
Mobile : (962-79) 5523745 / 5591137
Email : santeali@go.com.jo / santeali@msccjo.com
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are rented
and located in the Central Business Area of Amman.
Name Position
·
Nabil
Yousef Ghunaim Managing
Director
·
Ali
Mahmoud Awad Al Khader Director
·
Ahmed
Abu Samra Finance
Manager
Date of Establishment : 21st
June 1984
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1402, Amman
National ID No. :
200018206
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of Shareholder
(s) Percentage
·
Nabil
Yousef Ghunaim 50%
·
Ali
Mahmoud Awad Al Khader 50%
·
Sandra
Technical Establishment for Lab Supplies
Amman
·
National
Factory for Lab Chemicals & Equipment
Amman
Activities: Engaged in the import and distribution of medical
supplies and equipment, specialising in analytical and test equipment,
educational and teaching engineering equipment, chemicals, and industrial raw
materials.
Import
Countries: Europe, China,
Japan and the United States of America.
Agencies Held:
·
Quest
·
Armfield
·
Mayasan
·
Boeckel
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F-Unduetsch
·
Neelirion
Export
Countries: Iraq
Brand Names: POCH,
ADINSTRUMENTS, ARMFIELD, BEHR, BOEOCO, BRAIC, DENVER INSTRUMENTS, GCC,
GIVAUDAN, JT BAKER, MACHERY NAGEL, MAYASAN, NEELIKON, QUARON, SACCO and WTW
Operating Trend: Steady
Subject has a
workforce of 32 employees.
Financial
highlights provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales JD 2,900,000 JD 3,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Bank Plc
Jabal Amman Branch
PO Box: 2711
Amman
Tel: (962-6) 4629479
Fax: (962-6) 4655812
·
Jordan
Investment and Finance Bank
PO Box: 950601
Amman
Tel: (962-6) 5665145
Fax: (962-6) 5681410
·
Jordan
National Bank
Amman
Tel: (962-6) 4644391
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.54.88 |
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UK Pound |
1 |
Rs.83.54 |
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Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.