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Report Date : |
28.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SAMA FOOD INDUSTRIES CO LTD |
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Formerly Known As : |
SAMA MINERAL WATER CO WLL |
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Registered Office : |
Sahab Industrial Area |
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Country : |
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Date of Incorporation : |
15.01.2008 |
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Com. Reg. No.: |
15534, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Production and bottling of mineral water, fruit juice concentrates, and carbonated drinks. |
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No. of Employees : |
130 |
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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 : SAMA FOOD INDUSTRIES CO LTD
Previously Known As : SAMA MINERAL WATER CO WLL
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 15th January 2008
Commercial Registration Number : 15534, Amman
Chamber Membership Number : 14157
Issued Capital : JD 1,000,000
Paid up Capital : JD 1,000,000
Total Workforce : 130
Activities : Production and bottling of mineral water, fruit juice concentrates, and
carbonated drinks.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Iyad Al Mashraqa, Export Manager
SAMA FOOD INDUSTRIES CO LTD
PREVIOUSLY KNOWN AS: SAMA MINERAL WATER CO WLL
Location : Sahab
Industrial Area
PO Box : 110050
Town : Amman 11110
Country : Jordan
Telephone : (962-6) 4059090
Facsimile : (962-6)
4059080
Mobile : (962-79)
9045858
Email : info@sama-jo.com
/ export@sama-jo.com
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Amman.
Name Position
· Abdul Hamid Abdul
Majeed Al Hashlamoun Managing
Director
· Abdul Majeed Al
Hashlamoun Director
· Fatima Rashid Al
Hashlamoun Director
· Najeeb Abdul
Majeed Al Hashlamoun Director
· Bassam Abdul
Majeed Al Hashlamoun Director
· Thamer Abdul
Majeed Al Hashlamoun Director
· Ammar Abdul Majeed
Al Hashlamoun Director
· Tariq Abdul Majeed
Al Hashlamoun Director
· Basma Abdul Majeed
Al Hashlamoun Director
· Iyad Al Mashraqa Export
Manager
· Mohamed Abu Omar Finance
Manager
Date of
Establishment : 15th
January 2008
Legal Form : Limited Liability Company
Commercial Reg.
No. : 15534, Amman
Chamber Member No. : 14157
Issued Capital : JD 1,000,000
Paid up Capital : JD 1,000,000
· Abdul Hamid Abdul
Majeed Al Hashlamoun
· Abdul Majeed Al
Hashlamoun
· Fatima Rashid Al
Hashlamoun
· Najeeb Abdul
Majeed Al Hashlamoun
· Bassam Abdul
Majeed Al Hashlamoun
· Thamer Abdul
Majeed Al Hashlamoun
· Ammar Abdul Majeed
Al Hashlamoun
· Tariq Abdul Majeed
Al Hashlamoun
· Basma Abdul Majeed
Al Hashlamoun
Activities: Engaged in the production and bottling of mineral water, fruit juice
concentrates and carbonated drinks.
Import Countries: India and Europe.
Export Countries: Yemen, Libya,
Algeria, Iraq, Kuwait, Qatar and Angola.
Brand Names: RAZ
Subject has a workforce of approximately 130 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 Bank Plc
Shmeisani Branch
PO Box: 950545
& 950544
Amman 11195
Tel: (962-6)
5607231 / 5607115
Fax: (962-6)
5606793 / 5606830
No complaints regarding subject’s payments have been reported.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company 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.53.25 |
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1 |
Rs.86.23 |
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Euro |
1 |
Rs.68.64 |
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.