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Report No. : |
323787 |
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Report Date : |
29.05.2015 |
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 Employee : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 16% 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, telecommuncations, natural gas exploration, and petrochemical
sectors. Over 6 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. In 2014 the Kingdom
ran its first budget deficit since 2009, and faces budget deficits for the
foreseeable future because it requires an oil price greater than $100 per
barrel to balance its budget. Although the Kingdom can finance high deficits
for several years by drawing down its considerable foreign assets or borrowing,
it probably will begin to reduce capital spending if oil prices stay low
through the next year.
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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
Person Interviewed :
Tariq Othman, Financial Controller
JANA JUBAIL CHEMICAL INDUSTRIES CO
Registered &
Physical Address
Street : Road No.
263, Cross No. 198 & 218
Area : Jubail
Industrial Area
PO Box :
10661
Town : Jubail 31961
Country : Saudi Arabia
Telephone : (966-13)
3585002 / 3478888 / 3583400
Facsimile : (966-13)
3583792 / 3476705 / 3583192
Email : sales@jana-ksa.com
/ Abraham.joseph@nama.com.sa
/ tarig@nama.com.sa
Premises
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 Chief
Executive Officer
Abraham Joseph Finance
Manager
Tariq Othman Financial
Controller
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
Name of
Shareholder (s) Percentage
Nama Chemicals Co (NAMA) 100%
Jubail
Saudi Arabia
Tel: (966-13) 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: (966-13) 3612896
Fax: (966-13) 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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
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1 |
Rs.98.16 |
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Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
SDA |
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.