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Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
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Name : |
JAMIL ABDUL FATTAH ASAAD AND SONS |
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|
|
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Registered Office : |
Al Petra Street,
Souq Al Sukar, P O Box 20635, Amman
11118 |
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Country : |
Jordan |
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|
|
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Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
30.08.1994 |
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Com. Reg. No.: |
37619 |
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Legal Form : |
General Partnership |
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Line of Business : |
Wholesale and retail of dried seeds and dried foods |
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No. of Employees : |
12 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
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 : JAMIL ABDUL FATTAH ASAAD AND SONS
Trading As : QURTUBA EST FOR FOOD STUFFS TRADING
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 30th August 1994
Commercial Registration Number : 37619
Chamber Membership Number :
52941
National ID Number : 200023452
Partners Capital : JD 5,000
Total Workforce : 12
Activities : Wholesale and retail of dried seeds and dried foods.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Riyadh Jamil Abdul Fattah Asaad, Partner
JAMIL ABDUL FATTAH
ASAAD AND SONS
QURTUBA EST FOR
FOOD STUFFS TRADING
Registered &
Physical Address
Street : Al Petra Street
Area : Souq Al Sukar
PO Box : 20635
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4649888
Facsimile : (962-6) 5542600
Mobile : (962-79) 5530532 / 6363171
Email : qurtubaest@hotmail.com
Premises
Subject operates
from a small suite of offices and a showroom with storage facilities that are
rented and located in the Central Business Area of Amman.
Name Position
·
Jamil
Abdul Fattah Asaad Managing
Partner
·
Riyadh
Jamil Abdul Fattah Asaad Partner
·
Zayad
Jamil Abdul Fattah Asaad Partner
Date of Establishment : 30th
August 1994
Legal Form :
General Partnership
Commercial Reg. No. : 37619
Chamber Member No. : 52941
National ID No. : 200023452
Partners Capital : JD 5,000
Name of Partners
(s)
·
Jamil
Abdul Fattah Asaad
·
Riyadh Jamil
Abdul Fattah Asaad
·
Zayad
Jamil Abdul Fattah Asaad
·
Zayad
Oil Trading Est
PO Box: 20635 & 15155
Amman
Tel: (962-6) 4649888
Fax: (962-6) 4921703
Activities: Engaged in the wholesale and retail of dried
seeds and dried foods, including spices, nuts and olives.
Import
Countries: Egypt, Syria,
Pakistan, Greece, Spain and Turkey.
International
Suppliers:
·
Mohamed
Birqdar Co Syria
·
Hemani UAE
·
Hemani Pakistan
Brand Names: AL JAMIL
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 2,100,000 JD 2,550,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
·
Jordan
Kuwait Bank
Abdali Branch
PO Box: 9776
Amman
Tel: (962-6) 5688814
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 30
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Canadian
Dollars
Jamil Abdul Fattah
Asaad And Sons commenced trading in 1994 and has made steady progress in the local
market. It is engaged in the import, wholesale and retail of dried seeds and
dried food, enjoying a good reputation for the quality of its products.
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.52.82 |
|
UK Pound |
1 |
Rs.84.96 |
|
Euro |
1 |
Rs.68.61 |
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.