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Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
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Name : |
THE ARAB TRANSIT GOODS TRANSPORT AND CLEARING CO |
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Registered Office : |
Building No. 16, Wadi Saqra Street, Jabal Amman, PO Box: 324, Amman 11118 |
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Country : |
Jordan |
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Date of Incorporation : |
1951 |
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Com. Reg. No.: |
2076 |
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Legal Form : |
Limited Liability Company |
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line of business
: |
Engaged as shipping agents, providing freight forwarding, customs clearance,
logistics and warehousing. |
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No. of Employees : |
45 |
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 |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Jordan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 :
THE ARAB TRANSIT GOODS TRANSPORT AND CLEARING CO
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Date Started :
1951
Registration Date :
6th November 1964
Commercial Registration Number :
2076
Chamber Membership Number :
68
National ID Number :
200028279
Issued Capital :
JD 10,000
Paid up Capital :
JD 10,000
Total Workforce : 45
Activities :
Shipping agents.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
THE ARAB TRANSIT GOODS TRANSPORT AND CLEARING CO
Registered &
Physical Address
Building : Building No.
16
Street : Wadi Saqra
Street
Area : Jabal Amman
PO Box : 324
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4617590
/ 4622592 / 4625492
Facsimile : (962-6)
4622959
Email : rashed@arabforwarding.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Amman.
Branch Offices
Subject has a branch office located in Aqaba.
Name Position
Rashad Mamoun Toukan Managing
Director
Oraib Rashad Mamoun Toukan Director
Abeer Rashad Mamoun Toukan Director
Athan Rashad Mamoun Toukan Director
Waheed Miskal Asfoor Director
Date of Establishment : 1951, however
subject was registered on 6th November 1964
Legal Form : Limited Liability
Company
Commercial Reg. No. : 2076
Chamber Member No. : 68
National ID No. : 200028279
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Name of Shareholder
(s)
Rashad Mamoun Toukan
Oraib Rashad Mamoun Toukan
Abeer Rashad Mamoun Toukan
Athan Rashad Mamoun Toukan
Waheed Miskal Asfoor
Activities: Engaged as shipping agents, providing freight forwarding, customs
clearance, logistics and warehousing.
Subject has a workforce of 45 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 Banking Corporation
Matalqa Centre Branch
11th August Street
PO Box: 926691
Amman 11110
Tel: (962-6) 4664183 / 4664185
Fax: (962-6) 4692713
No complaints regarding subject’s payments have been reported.
Opinion on the credit figure of US$ 100,000:
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.52.75 |
|
UK Pound |
1 |
Rs.85.07 |
|
Euro |
1 |
Rs.69.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.