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Report Date : |
13.12.2013 |
IDENTIFICATION DETAILS
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Name : |
AL MASAT LIL TAWREEDAT EL CHEMAWIEH CO LTD |
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Registered Office : |
Yousef Ziadeh
Building, 4th Floor, Office No. 401, Wadi Sakra Street, P O
Box 6515, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.02.2006 |
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Com. Reg. No.: |
11527, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importer and distributor of
chemicals for pharmaceuticals, veterinary products, feed additives and
detergents. |
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No. of Employees : |
350 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 and 2012, the government approved two
economic relief packages and a budgetary supplement, meant 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 diesel imports, primarily from Saudi
Arabia, to generate electricity. Jordan is currently exploring nuclear power
generation in addition to the exploitation of abundant oil shale reserves and
renewable technologies to forestall energy shortfalls. In 2012, to correct
budgetary and balance of payments imbalances, Jordan entered into a $2.1
billion, multiple year International Monetary Fund Stand-By Arrangement.
Jordan''s financial sector has been relatively isolated from the international
financial crisis because of its limited exposure to overseas capital markets.
Jordan will continue to depend heavily on foreign assistance to finance the
deficit in 2013.
|
Source : CIA |
Company Name : AL MASAT LIL TAWREEDAT EL CHEMAWIEH CO LTD
Also Known As : AL MASAT FOR CHEMICAL SUPPLIES CO LTD
Doing Business As : MASKEM MIDDLE EAST
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 16th February 2006
Commercial Registration Number : 11527, Amman
Chamber Membership Number :
124304
National ID Number : 200017282
Issued Capital : JD 300,000
Paid up Capital : JD 300,000
Total Workforce : 350
Activities : Distributors of chemicals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dr Feras Taysser Al Homsi, Joint General Manager
AL MASAT LIL
TAWREEDAT EL CHEMAWIEH CO LTD
AL
MASAT FOR CHEMICAL SUPPLIES CO LTD
MASKEM
MIDDLE EAST
Registered &
Physical Address
Building : Yousef Ziadeh Building, 4th
Floor, Office No. 401
Street : Wadi Sakra Street
PO Box : 6515
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 5548462 / 5548463
Facsimile : (962-6) 5548439
Mobile : (962-77) 7407008
Email : alia.qarain@maskem-me.com / admin@maskem.me.com / admin@almassat.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Suburban
Business Area of Amman.
Name Position
·
Mrs Alia Saeed Qarain Joint
General Manager
·
Dr Feras Taysser Al Homsi Joint
General Manager
·
Rafaat
Nosairat Finance
Manager
Date of Establishment : 16th
February 2006
Legal Form :
Limited Liability Company
Commercial Reg. No. : 11527, Amman
Chamber Member No. : 124304
National
ID No. : 200017282
Issued Capital : JD 300,000
Paid up Capital : JD 300,000
Name of Shareholder
(s)
·
Balourat For Chemical Supplies
Amman
·
Arpadis
Chemicals NV
Belgium
Activities: Engaged in the import and distribution of chemicals for pharmaceuticals, veterinary products, feed
additives and
detergents.
Import
Countries: India and the
United States of America
Agencies Held:
·
IBM United
States of America
·
United
Stated Pharmacopier (USP) United
States of America
· Biocon India
Operating Trend: Steady
Subject has a
workforce of approximately 350 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 12,650,000 JD 13,200,000
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
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
·
HSBC
Bank Middle East
Khalid Bin Walid Street
Jebel Hussein
PO Box: 925286
Amman
Tel: (962-6) 5660471 / 5607471
Fax: (962-6) 5692964
No complaints
regarding subject’s payments have been reported.
During the course of
this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk and the above credit figure is within subject’s
financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.100.84 |
|
Euro |
1 |
Rs.84.98 |
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 |
-- |
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.