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Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
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Name : |
ISTIKLAL LIBRARY CO - JORDAN |
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Registered Office : |
11 Prince Mohamed
Street, Central Town, P O Box 156, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1940 |
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Com. Reg. No.: |
6623, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Distribution of stationery, toys and drawing products |
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No. of Employees : |
56 employees |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 the government approved two economic relief packages and a budgetary supplement, largely 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 heavy fuel oils to generate electricity. An influx of foreign aid, especially from Gulf countries, has helped to somewhat offset these extrabudgetary expenditures, but the budget deficit is likely to remain high, at nearly 10% of GDP excluding grants. Amman likely will continue to depend heavily on foreign assistance to finance the deficit in 2012. Jordan''s financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan is currently exploring nuclear power generation to forestall energy shortfalls.
|
Source
: CIA |
Company Name : ISTIKLAL LIBRARY CO - JORDAN
Country of Origin : Jordan
Legal Form : General Partnership
Start Date : 1940
Registration Date : 18th July 1996
Commercial Registration Number : 6623, Amman
Chamber Membership Number : 1014
National ID Number : 200025326
Partners Capital : JD 35,000
Total Workforce : 56
Activities : Distribution of stationery, toys and drawing products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ISTIKLAL LIBRARY CO - JORDAN
Registered &
Physical Address
Street : 11 Prince Mohamed Street
Area : Central Town
PO Box : 156
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4622475 / 4651475
Facsimile : (962-6) 4659503
Email : info@istiklallibrary.com / istiklal@wanadoo.jo
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Amman.
Branch Office (s)
Location Description
·
Subhi
Omari Street Showroom
premises
Sweifiyeh
Tel: (962-6) 5821168 / 5821169
Fax: (962-6) 5829123
·
Al
Jahedh Street Showroom
premises
Shmeisani
Tel: (962-6) 5663130 / 5681130
Fax: (962-6) 5655363
Name Position
·
Fareed
Hassan Khalf Managing
Partner
·
Faisal
Hassan Khalf Partner
·
Rasheed
Hassan Khalf Partner
·
Ms
Fatima Fareed Hassan Khalf Partner
·
Hamza
Khalf Sales
Manager
Date of Establishment : 1940, however
subject was registered on 18th July 1996
Legal Form :
General Partnership
Commercial Reg. No. : 6623, Amman
Chamber Member No. : 1014
National
ID No. : 200025326
Partners Capital : JD 35,000
Name of Partners (s)
·
Fareed
Hassan Khalf
·
Faisal Hassan
Khalf
·
Rasheed
Hassan Khalf
·
Ms
Fatima Fareed Hassan Khalf
Activities: Engaged in the import and distribution of
stationery, toys and drawing products.
Import
Countries: Europe and the
United States of America.
Brand Names: ACCO REXEL, AVERY, BIC, BOSTON, BURG, CITIZEN, DAHLE, DURABLE, DYMO, EBA,
ELYSEE, ESSELTE, EXPO, FABRIANO, FALCON, GBC, GEHA, HENKEL, HISPAPEL, HP, HUNT, JOHN DICKINSON, KUM, LEITZ, LETTS OF LONDON, LINEX, MAUL, MEAD, METRO, MUNARI, OPEN, PAPERMATE, PARKER, PELIKAN, PREMIER GRIP, PRITT, QUILL, ROTRING, SANFORD, SCHWAN STABILO, SENTRY, SHARPIE, SHEAFFER and 3M
Operating Trend: Steady
Subject has a
workforce of 56 employees.
Financial
highlights provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales JD 3,600,000 JD 3,850,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
No complaints
regarding subject’s payments have been reported.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.65 |
|
UK Pound |
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.