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Report Date : |
21.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SHIREEN GENERAL TRADING EST |
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Registered Office : |
19 Jamal Aldeen Aphaganee Street, Suite No. 308 Jabal Al Hussein,
Firas Circle PO Box 183624 Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.09.2007 |
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Com. Reg. No.: |
183766, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of uniforms, safety equipment and readymade garments. |
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No. of Employees : |
6 |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : SHIREEN GENERAL TRADING EST
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 27th September 2007
Commercial Registration Number : 183766, Amman
National ID Number : 100286037
Chamber Membership Number : 136249
Invested Capital : JD 5,000
Total Workforce : 6
Activities : Distributors of uniforms, safety equipment and readymade garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SHIREEN
GENERAL TRADING EST
Street : 19 Jamal
Aldeen Aphaganee Street, Suite No. 308
Area : Jabal Al
Hussein, Firas Circle
PO Box : 183624
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 5664377
Facsimile : (962-6)
5664378
Mobile : (962-79)
6273377
Email : info@shireentrading.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
· Mohamed Rebhi
Mahmoud Abu Huwaij Proprietor
& General Manager
· Tamara Abdulrahman
Khirwesh Administration
Executive
Date of
Establishment : 27th
September 2007
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 183766, Amman
National ID No. : 100286037
Chamber Member No. : 136249
Invested Capital : JD 5,000
Mr Mohamed Rebhi Mahmoud Abu Huwaij is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of uniforms, safety equipment
and readymade garments.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 6 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
910,000 JD
975,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Jordan Investment & Finance Bank
Shmeisani
Branch
PO Box:
950601
Amman
Tel:
(962-6) 5665145 / 5692470
Fax: (962-6) 5681410
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed 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.54.34 |
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1 |
Rs.87.91 |
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Euro |
1 |
Rs.70.57 |
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 |
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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.