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Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
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Name : |
WALID HANI HADDAD & PARTNERS CO |
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Registered Office : |
Al Mohajeriin Road, Jebel Al Nazeef Area, P
O Box 151265, Amman 11115 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.01.1987 |
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Com. Reg. No.: |
7597, Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of agricultural tools, hardware, tape, yarns, adhesives, jute bags, ropes and plastic rolls. |
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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 |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
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.
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Source : CIA |
Company Name : WALID HANI HADDAD & PARTNERS CO
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 3rd January 1987
Commercial Registration Number : 7597, Amman
Chamber Membership Number : 17764
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Total Workforce : 12
Activities : Distributors of agricultural tools, hardware, tape, yarns, adhesives, jute
bags, ropes and plastic rolls.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Walid Hani Yousef Haddad, Managing Partner
WALID HANI HADDAD
& PARTNERS CO
Registered &
Physical Address
Street : Al Mohajeriin Road
Area : Jebel Al Nazeef Area
PO Box : 151265
Town : Amman 11115
Country : Jordan
Telephone : (962-6) 4742508 / 4760066
Facsimile : (962-6) 5539066 / 4730066
Mobile : (962-79) 5650804
Email : lanhaddad@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Amman.
Name Position
·
Walid
Hani Yousef Haddad Managing
Partner
·
Wael
Hani Yousef Haddad Partner
Date of Establishment : 3rd
January 1987
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 7597, Amman
Chamber Member No. : 17764
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Name of Partner
(s)
·
Walid Hani
Yousef Haddad
·
Wael
Hani Yousef Haddad
Activities: Engaged in the import and distribution of
agricultural tools, hardware, tape, yarns, adhesives, jute bags, ropes and
plastic rolls.
Import
Countries: United Arab
Emirates, Europe and India
International
Suppliers:
·
ASMCO United Arab Emirates
·
Al
Hidal United Arab
Emirates
·
Al
Mokrain United Arab
Emirates
·
Undak United Arab Emirates
·
Gulf Rope United Arab Emirates
·
UNIPACK United Arab Emirates
·
Nova United Arab Emirates
·
Shree Exporter India
·
Mohan Jute India
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 1,850,000 JD 2,100,000
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.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.53.04 |
|
UK Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.68.21 |
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 |
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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 |
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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.