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Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
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Correct Name : |
CONSOLIDATED SUPPLIES SULPHOCHEMICAL AND DETERGENTS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
03.11.1991 |
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Com. Reg. No.: |
2608 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of
Sulphochemical and Detergent Products |
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No. of Employees : |
180 |
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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. In 2013, Jordan depended heavily on foreign assistance to
finance the budget deficit, as the influx of about 600,000 Syrian refugees put
additional pressure on expenditures.
|
Source
: CIA |
Company Name :CONSOLIDATED
SUPPLIES SULPHOCHEMICAL AND DETERGENTS
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
3rd November 1991
Commercial Registration Number :
2608, Amman
Chamber Membership Number :
7817
National ID Number :
20001848
Issued Capital :
JD 5,500,000
Paid up Capital :
JD 5,500,000
Total Workforce :
180
Activities :
Manufacturers of sulphochemical and detergent products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
CONSOLIDATED SUPPLIES SULPHOCHEMICAL AND DETERGENTS
Registered & Physical Address
Building : Real Estate
Development Building, 5th Floor, Suite No. 145
Street : Gardens
Street
PO Box : 6066
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 5533201
/ 6234586
Facsimile : (962-6)
5548389
Email : icacontactus@yahoo.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
Nour M Mhyani Chairman
Hussen Saeed Vice
Chairman
Adnan Madi Director
Gassab Dameh General
Manager
Bilal O Ahmed Financial
Manager
Date of Establishment : 3rd
November 1991
Legal Form : Limited Liability
Company
Commercial Reg. No. : 2608, Amman
Chamber Member No. : 7817
National ID No. : 20001848
Issued Capital : JD 5,500,000
Paid up Capital : JD 5,500,000
Name of Shareholder (s) Percentage
Industrial Commercial & Agricultural Co Ltd (ICA) 100%
Real Estate Development Building, 5th Floor, Suite No. 145
Gardens Street
PO Box: 6066
Amman 11118
Tel: (962-6) 4655446 / 4619823 / 6234586 / 5533201
Fax: (962-6) 4619827 / 4733105 / 6234589 / 5548389
United Sulphochemical and Detergent Industries Co Ltd
Intaj Marketing and Distribution Co Ltd
Unified Soap Industry Co Ltd
Activities: Engaged in the manufacture of sulphochemical and detergent products.
Operating Trend: Steady
Subject has a workforce of approximately 180 employees.
Financial highlights provided by local sources are given below:
Currency: Jordanian Dinars (JD)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales JD
11,125,000 JD 11,400,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Bank of Jordan Ltd
Jebel Amman
PO Box: 2140
Amman
Tel: (962-6) 5642034
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Consolidated
Supplies Sulphochemical and Detergents” and not “Consolidated Sulphochemical
and Detergent”.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
UK Pound |
1 |
Rs.98.21 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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|
Report Prepared
by : |
SHG |
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 |
|
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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.