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Report No. : |
336413 |
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Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
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Name : |
MK CHEMICALS TRADING CO LTD |
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Registered Office : |
Al Barakeh Building, 2nd Floor, Office No. 208 220 Al
Madena Al Munawara Street Amman |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
11.11.2013 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of chemical raw
materials for drilling and fertilizers. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 and resulting government debt. King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as opening up foreign trade and privatizing state-owned companies, that attracted foreign investment and contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil since, however, reduced the average annual growth rate to 2.6% for the 2010-2013 period and hurt export-oriented sectors, construction, and tourism. Jordan's finances have 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. To diversify its energy mix, Jordan is currently exploring nuclear power generation, exploitation of abundant oil shale reserves and renewable technologies, as well as the import of Israeli offshore gas. In August 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, three year International Monetary Fund Stand-By Arrangement. In 2014, fiscal reform measures enacted in the previous few years continued to boost government revenues and reduced the budget deficit even as an influx of over 620,000 Syrian refugees since 2011 put additional pressure on expenditures.
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Source
: CIA |
Company Name : MK CHEMICALS TRADING CO LTD
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 11th November 2013
Commercial Registration Number : 34552
National ID Number : 200137389
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Total Workforce : 8
Activities : Distributors of chemical raw materials for drilling and fertilizers
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Kloub, General Manager
MK
CHEMICALS TRADING CO LTD
Building :
Al Barakeh Building, 2nd Floor, Office No. 208
Street :
220 Al Madena Al Munawara Street
Town :
Amman
Country :
Jordan
Mobile :
(962-79) 6933382
Email : mohamad_kloub@mk-chemical.com
Subject operates from a small suite of offices that are
rented and located in the Central Business Area of Amman.
Name Position
· Mohamed
Osama Mohamed Saeed Al Yousef Managing
Partner
· Talal
Mohamed Osama Mohamed Saeed Al Yousef Partner
· Mohamed
Kloub General
Manager
Date
of Establishment : 11th
November 2013
Legal
Form : Limited
Liability Partnership
Commercial
Reg. No. : 34552
National
ID No. : 200137389
Issued Capital : JD
10,000
Paid up Capital : JD
10,000
· Mohamed
Osama Mohamed Saeed Al Yousef
· Talal
Mohamed Osama Mohamed Saeed Al Yousef
Activities: Engaged in the import and distribution
of chemical raw materials for drilling and fertilizers.
Import Countries: Iran and India.
International Suppliers:
· National
Iranian Drilling Corporation (NIDC) Iran
· OEC Iran
· Shree
Ganesh Trading India
Subject has a workforce of 8 employees.
Financial highlights provided by local sources are given
below:
Currency: Jordanian Dinars (JD)
Year
Ending 31/12/14:
Total Sales JD
1,100,000
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) 642034
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.64.92 |
|
UK Pound |
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TRU |
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.