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Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
AL MANSOUR
PLASTIC FACTORY |
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|
|
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Registered Office : |
Amar Bin Yasser
Street, Aujan Area, 925640, Amman 11190, Zarqa |
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|
|
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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 : |
17.02.2009 |
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Com. Reg. No.: |
211914, Zarqa |
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Legal Form : |
Sole
Proprietorship |
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|
|
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Line of Business : |
Manufacture of plastic
bags |
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|
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|
No. of Employees : |
34 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 : AL MANSOUR PLASTIC
FACTORY
Country of Origin : Jordan
Legal Form :
Sole Proprietorship
Registration Date : 17th
February 2009
Commercial
Registration Number : 211914,
Zarqa
Chamber Membership
Number : 5313
National ID Number : 1000315904
Invested Capital : JD 50,000
Total Workforce : 34
Activities :
Manufacture of plastic bags
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nedal Hassan,
Financial Controller
AL MANSOUR PLASTIC
FACTORY
Street : Amar Bin Yasser Street
Area : Aujan Area
PO Box : 925640, Amman 11190
Town : Zarqa
Country : Jordan
Telephone : (962-5) 3652000
Facsimile : (962-5) 3650904
Mobile : (962-79) 7442945
Email : almansoorplasticfactory@gmail.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Zarqa.
Name Position
·
Ali
Saeed Ahmed Zaid Al Kilani Proprietor
& General Manager
·
Ahmed
Al Kilani Sales
Manager
·
Nedal
Hassan Financial
Controller
Date of Establishment : 17th
February 2009
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 211914, Zarqa
Chamber Member No. : 5313
National
ID No. : 1000315904
Invested Capital
: JD 50,000
Mr Ali Saeed Ahmed
Zaid Al Kilani is the sole proprietor of the business.
Activities: Engaged in the manufacture of plastic bags.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 34 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 2,180,000 JD 2,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Nedal Hassan, Financial Controller
·
Jordan
Gulf Bank
PO Box: 9989
Zarqa
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
business 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.55.45 |
|
|
1 |
Rs.87.98 |
|
Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.