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Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
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Name : |
DAOUD SALAH EDDINE ENETCHA & PARTNER CO |
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Registered Office : |
Al
Adaala Street, Quisna Area, Wehdat, P O Box 590, Amman 11511 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
19.04.1992 |
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Com. Reg. No.: |
29207, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Wholesale and retail of automotive spare parts. |
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No. of Employees : |
05 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Jordan |
B1 |
B1 |
|
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 |
Company Name : DAOUD SALAH EDDINE ENETCHA & PARTNER CO
Also Known As : ENETCHA FOR SPARE PARTS
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 19th April 1992
Commercial Registration Number : 29207, Amman
Chamber Membership Number : 40179
Partners Capital : JD 5,000
Total Workforce : 5
Activities : Wholesale and retail of automotive spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mostafa Khalf, Sales Executive
DAOUD SALAH EDDINE
ENETCHA & PARTNER CO
ENETCHA FOR SPARE
PARTS
Registered &
Physical Address
Street : Al
Adaala Street
Area : Quisna
Area, Wehdat
PO Box : 590
Town : Amman 11511
Country : Jordan
Telephone : (962-6) 4747926
Facsimile : (962-6) 4747926
Mobile : (962-77) 7750001 / (962-79) 7750001
Email : malik_rvd@hotmail.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Amman.
Name Position
·
Daoud
Salah Eddine Enetcha Managing
Partner
·
Ahmed
Abdul Fattah Enetcha Partner
·
Malik Daoud
Salah Eddine Enetcha Commercial
Manager
·
Mostafa Khalf Sales
Executive
Date of Establishment : 19th
April 1992
Legal Form :
General Partnership
Commercial Reg. No. : 29207, Amman
Chamber Member No. : 40179
Partners Capital : JD 5,000
Name of Partners (s) Percentage
·
Daoud
Salah Eddine Enetcha 50%
·
Ahmed
Abdul Fattah Enetcha 50%
Activities: Engaged in the wholesale and retail of
automotive spare parts, specialising in Mercedes spare
parts.
Import
Countries: Europe, Tunisia,
Egypt and Japan.
International
Suppliers:
·
MAD Tunisia
·
Alfa
Glass Egypt
·
City
Glass Egypt
Operating Trend: Steady
Subject has a
workforce of 5 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 525,000 JD 600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Jordan
Islamic Bank
Shmeisani Branch
PO Box: 926225
Amman 11195
Tel: (962-6) 5677377
Fax: (962-6) 5666326
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
Established in 1992,
subject is owned and managed by Mr Daoud Salah Eddine Enetcha and Mr Ahmed
Abdul Fattah Enetcha who are both well respected in the local business
community.
Local sources
report that payment obligations are met in a generally timely manner and the operating
history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
UK Pound |
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.