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Report Date : |
05.10.2012 |
IDENTIFICATION DETAILS
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Name : |
JAWAD JABR &
BASSAM AL EZZEH |
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Formerly Known As : |
AL MADAR CHEMICAL
ESTABLISHMENT |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.07.1993 |
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Com. Reg. No.: |
33807, Amman |
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Legal Form : |
General
Partnership |
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Line of Business : |
Distributors of
industrial raw materials. |
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No. of Employees : |
12 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Jordan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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 |
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 : JAWAD JABR
& BASSAM AL EZZEH
Doing Business As : AL MADAR
CHEMICAL ESTABLISHMENT
Country of Origin : Jordan
Legal Form :
General Partnership
Registration Date : 21st
July 1993
Commercial
Registration Number : 33807,
Amman
Chamber Membership
Number : 47004
National ID Number : 200025563
Partners Capital : JD 20,000
Total Workforce : 12
Activities :
Distributors of industrial raw materials.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Bassam Abdul
Latif Al Ezzah, Managing Partner
JAWAD JABR &
BASSAM AL EZZEH
DOING BUSINESS AS: AL MADAR CHEMICAL ESTABLISHMENT
Building : Florida Center, 2nd
Floor
Street : Wasfi Al Tal Street
PO Box : 2726 & 426140
Town : Amman 11140
Country : Jordan
Telephone : (962-6) 5693796 / 5699467
Facsimile : (962-6) 5685690
Mobile : (962-79) 5558694
Email : almadar@nets.com.jo
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Amman.
Branch Office
(s)
Location Description
·
Mqablain Warehouse
premises
Amman
Name Position
·
Bassam Abdul
Latif Al Ezzah Managing
Partner
·
Jawad
Ali Tayeem Jabr Partner
Date of Establishment : 21st
July 1993
Legal Form :
General Partnership
Commercial Reg. No. : 33807, Amman
Chamber Member No. : 47004
National ID No. :
200025563
Partners Capital : JD 20,000
·
Bassam
Abdul Latif Al Ezzah 50%
·
Jawad
Ali Tayeem Jabr 50%
·
Al Sadiq Food Industries
Amman
·
Al Sadiq Plastic Industries
Amman
Activities: Engaged in the import and distribution of industrial raw materials, including resins, stabilisers and
polymers.
Import
Countries: Europe and GCC
countries.
International
Suppliers:
·
Warner Jenkinson Europe United Kingdom
·
International Tower France
Operating Trend: Steady
Subject has a
workforce of 12 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 2,910,000 JD 3,265,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Jordan
National Bank
Jabal Amman Branch
PO Box: 1578
Amman 11118
Tel: (962-6) 5642391
Fax: (962-6) 5628809
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 company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.97 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.67.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
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.