MIRA INFORM REPORT

Report Date :

13.12.2012

IDENTIFICATION DETAILS

Name :	AL DOUH JORDANIAN CO LTD

Registered Office :	Al Riyadh Group Building, No. 213, Arrar Street, Wadi Saqra Area, P O Box 910538, Amman 11191

Country :	Jordan

Financials (as on) :	31.12.2011

Date of Incorporation :	28.09.2008

Com. Reg. No.:	8210, Amman

Legal Form :	Limited Liability Company

Line of Business :	Processors of vegetable fats, additives and oils

No. of Employees :	60 employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually Correct
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 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Jordan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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

SUMMARY

Company Name : AL DOUH JORDANIAN CO LTD

Country of Origin : Jordan

Legal Form : Limited Liability Company

Registration Date : 28^th September 2008

Commercial Registration Number : 8210, Amman

Chamber Membership Number : 22356

National ID Number : 200003417

Issued Capital : JD 105,000

Paid up Capital : JD 105,000

Total Workforce : 60

Activities : Processors of vegetable fats, additives and oils.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

AL DOUH JORDANIAN CO LTD

company ADDRESS

Registered & Physical Address

Building : Al Riyadh Group Building, No. 213

Street : Arrar Street

Area : Wadi Saqra Area

PO Box : 910538

Town : Amman 11191

Country : Jordan

Telephone : (962-6) 5690628 / 5687604 / 5687605

Facsimile : (962-6) 5690629 / 5680043 / 5687603

Email : al_douh@wanadoo.jo

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Amman.

KEY PRINCIPALS

Name Position

· Mohamed Khawam Abdul Abbass Al Farhood Managing Director

· Ali Khawam Abdul Abbass Al Farhood Director

LEGAL FORM & OWNERS

Date of Establishment : 28^th September 2008

Legal Form : Limited Liability Company

Commercial Reg. No. : 8210, Amman

Chamber Member No. : 22356

National ID No. : 200003417

Issued Capital : JD 105,000

Paid up Capital : JD 105,000

Name of Shareholder (s) Percentage

· Al Riyadh Group of Companies 100%

Amman

AFFILIATED COMPANIES

· Al Riyadh Co for Detergents Industry

· Al Riyadh Co for Vegetable Oils Industry

· Al Riyadh Modern Sulpho Chemical Co

· Al Methalia Est for Dairy Products

· Al Jawhara Foodstuff Co

· Al Kawthar Industrial Est

· Al Wadaq for Paper Industry

OPERATIONS

Activities: Engaged in the processing of vegetable fat, additives and oils.

Operating Trend: Steady

Subject has a workforce of 60 employees.

FINANCIAL DATA

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 2,105,000 JD 2,400,000

Local sources consider subject’s financial condition to be Fair.

BANKERS

· Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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.54.27
UK Pound	1	Rs.87.43
Euro	1	Rs.70.55

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
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%)

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