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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADM SHADOWS AL
THILAL |
|
|
|
|
Registered Office : |
Fatima Al Zahra
Street, 4357 Amman 11131 |
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|
|
|
Country : |
Jordan |
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|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
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Date of Incorporation : |
03.05.1993 |
|
|
|
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Com. Reg. No.: |
32989, Amman |
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|
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Legal Form : |
General Partnership |
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|
|
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Line of Business : |
Distributors of general
foodstuffs |
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|
|
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No. of Employees : |
6 |
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 |
|
Payment Behaviour : |
No complaints |
|
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 |
A2 |
A2 |
|
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 : ADM
SHADOWS AL THILAL
Country of Origin : Jordan
Legal Form :
General Partnership
Registration Date : 3rd
May 1993
Commercial
Registration Number : 32989,
Amman
Chamber Membership
Number : 45870
National ID Number : 20001296
Partners Capital : JD 5,000
Total Workforce : 6
Activities :
Distributors of general foodstuffs
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ADM SHADOWS AL
THILAL
Location : Fatima Al Zahra Street
PO Box : 4357
Town : Amman 11131
Country : Jordan
Telephone : (962-6) 5664546
Facsimile : (962-6) 5664546
Mobile : (962-79) 5473442
Email : dana@mec.com.jo / shadows@mec.com.jo
Please note that subject’s
previous address was, Mahatha Street, Amman 11131.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Name Position
·
Ahmed Abdul
Halim Mostafa Abu Bakir Managing
Partner
·
Dina Ahmed Mohamed Partner
Date of Establishment : 3rd
May 1993
Legal Form :
General Partnership
Commercial Reg. No. : 32989, Amman
Chamber Member No. : 45870
National ID No. :
20001296
Partners Capital : JD 5,000
·
Ahmed
Abdul Halim Mostafa Abu Bakir
·
Dina Ahmed Mohamed
Activities: Engaged in the import and distribution of
general foodstuffs, including rice, pulses and grains.
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 Revenue JD 1,105,000 JD 1,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Shmeisani Branch
PO Box: 926225
Tel: (962-6) 5677377
Fax: (962-6) 5666326
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.53.53 |
|
|
1 |
Rs.86.82 |
|
Euro |
1 |
Rs.69.02 |
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.