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Report Date : |
19.10.2012 |
IDENTIFICATION DETAILS
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Name : |
LEEMA FOOD INDUSTRIES |
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Registered Office : |
North Marqa PO Box 341411 Amman 11134 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.04.2009 |
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Com. Reg. No.: |
18440 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers and packagers of corn chips |
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No. of Employees : |
35 |
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 : LEEMA FOOD INDUSTRIES
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 7th April 2009
Commercial Registration Number : 18440
Chamber Membership Number : 23294
National ID Number : 200010233
Issued Capital : JD 50,000
Paid up Capital : JD 50,000
Total Workforce : 35
Activities : Manufacturers and packagers of corn chips
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
LEEMA FOOD INDUSTRIES
Location : North Marqa
PO Box :
341411
Town : Amman 11134
Country : Jordan
Telephone : (962-6) 4889282
Facsimile : (962-6)
4889281
Mobile : (962-79)
5520504
Email : info@leemafood.com
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Amman.
Name Position
· Saeed Nimer Al
Shadhan Managing
Director
· Yousef Ali Al
Sweiti Director
· Telal Jameel
Khalil Director
Date of
Establishment : 7th
April 2009
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 18440
Chamber Member No. : 23294
National ID No. : 200010233
Issued Capital : JD 50,000
Paid up Capital : JD 50,000
· Saeed Nimer Al
Shadhan
· Yousef Ali Al
Sweiti
· Telal Jameel
Khalil
Activities: Engaged in the manufacturing and packaging of corn chips.
Import Countries: Europe and the Far East.
Brand Names: KOKKINES
Operating Trend: Steady
Subject has a workforce of 35 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
1,200,000 JD
1,700,000
Local sources consider subject’s financial condition to be Fair.
·
Cairo Amman Bank
Shabsough Street
PO Box: 715
Amman
Tel: (962-6)
5639321 / 5623100 / 5623109
Fax: (962-6)
5639328
No complaints regarding subject’s payments have been reported.
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.97 |
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1 |
Rs.85.45 |
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Euro |
1 |
Rs.69.45 |
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.