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Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TRANS KINGDOM CO FOR GLOBAL TRADING |
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Registered Office : |
Qatr El Nada Building, Suite No. 320 39 Meka Street Sweifieh PO Box
2790 Amman 11821 |
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Country : |
Jordan |
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Year of Establishment : |
2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of personal care and hygiene products. |
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No. of Employees : |
5 |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 : TRANS KINGDOM CO FOR GLOBAL TRADING
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 2003
Issued Capital : JD 250,000
Paid up Capital : JD 250,000
Total Workforce : 5
Activities : Distributors of personal care and hygiene products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
TRANS KINGDOM CO FOR GLOBAL TRADING
Building : Qatr El Nada
Building, Suite No. 320
Street : 39 Meka
Street
Area : Sweifieh
PO Box : 2790
Town : Amman 11821
Country : Jordan
Telephone : (962-6) 5851936
Facsimile : (962-6)
5855079
Mobile : (962-79)
5575829
Email : info@transkingdom.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Nationality Position
· Ahmed Kamel Bayati Iraqi Managing
Director
· Mohamed Kamel
Bayati Iraqi Director
Date of
Establishment : 2003
Legal Form : Limited Liability
Company
Issued Capital : JD 250,000
Paid up Capital : JD 250,000
· Ahmed Kamel Bayati
· Mohamed Kamel
Bayati
Activities: Engaged in the import and distribution of personal care and hygiene
products.
Import Countries: Europe and the Far East.
Brand Names: LYNEX, DETTOL, LIFEBOUY, AIRWICK, FAIR &
LOVELY
Subject has a workforce of 5 employees.
Companies registered in Jordan are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
Arab Jordan Investment Bank
Ibn Hani Street
Shmeisani
PO Box: 8797
Amman 11121
Tel: (962-6)
5607126 / 5607138
Fax: (962-6)
5681482 / 5690646
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.07 |
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1 |
Rs.84.95 |
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Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.