Salam Anzaidi,
This is a new product from Meguiars. It is available in the international market. I haven't tried it but got some reviews from my friends in USA who are detailing freak. As per their experience, this product can be easy used as a STAND ALONE PRODUCT, as it cleans, polishes and protects all in one effort.
Also they noticed that it last longer as compared to turtle black wax. Plus there is no coloring dyes and it wont give artificial effects. My friends have tried it Black, Dark Blue and Dark Grey Color and the results are awesome. So this mean it is not just for black cars, it is for dark colored cars.
Also, they have WHITE WAX which is for lighter color cars. I have ordered few and should be getting them in couple of week from USA :). Will us that on my car and will share my personal experieicne then,