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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
JANA JUBAIL CHEMICAL INDUSTRIES CO |
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Registered Office : |
Road No. 263, Cross No. 198 & 218 Jubail Industrial Area PO
Box 10661 Jubail 31961 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
04.07.1999 |
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Com. Reg. No.: |
2055004384, Jubail |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of epoxy and resins. |
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No. of Employees : |
500 |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Saudi Arabia |
A2 |
A2 |
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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 |
SAUDI ARABIA - ECONOMIC OVERVIEW
Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 17% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals. Diversification efforts are focusing on power generation, telecommunications, natural gas exploration, and petrochemical sectors. Over 5 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors, while Riyadh is struggling to reduce unemployment among its own nationals. Saudi officials are particularly focused on employing its large youth population, which generally lacks the education and technical skills the private sector needs. Riyadh has substantially boosted spending on job training and education, most recently with the opening of the King Abdallah University of Science and Technology - Saudi Arabia's first co-educational university. As part of its effort to attract foreign investment, Saudi Arabia acceded to the WTO in 2005. The government has begun establishing six "economic cities" in different regions of the country to promote foreign investment and plans to spend $373 billion between 2010 and 2014 on social development and infrastructure projects to advance Saudi Arabia''s economic development.
Source
: CIA
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 775,000,000
Paid up Capital : SR 775,000,000
Total Workforce : 500
Activities : Manufacture of epoxy and resins.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
JANA JUBAIL CHEMICAL INDUSTRIES CO
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 / 3583192
Email : sales@jana-ksa.com
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Jubail.
Name Position
· Rashid Mohamed Al Dossary
General
Manager
· T Nagrajan Operations
Manager
· Kamal Fatayerji Financial
Manager
· Faisal Al Mutairi Accounts
Manager
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 775,000,000
Paid up Capital : SR 775,000,000
· Nama Chemicals Co
(NAMA) 100%
Jubail
Saudi
Arabia
Tel:
(966-3) 3478888
Activities: Engaged in the manufacture of epoxy and resins.
Subject plans to increase production
capacity to 240,000 metric tons by 2017.
Production Capacity: 120,000 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.
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.
·
National Commercial Bank
PO Box: 58
Jubail 51951
Tel: (966-3)
3612896
Fax: (966-3)
3611750
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.59.83 |
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|
1 |
Rs.91.76 |
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Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.