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Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
LEMAS FOR INVESTMENT AND INTERNATIONAL TRADE |
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|
|
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Registered Office : |
Abu Chawa
Complex, 3rd Floor, 7th Circle, Aqaba 771100 |
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|
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Country : |
Jordan |
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Date of Incorporation : |
15.08.2010 |
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Com. Reg. No.: |
1134 |
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Legal Form : |
Exempt Company |
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Line of Business : |
Providers of finance, insurance and real estate services |
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No. of Employees : |
05 |
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 : |
Usually Correct |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 : LEMAS FOR INVESTMENT AND INTERNATIONAL TRADE
Country of Origin : Jordan
Legal Form : Exempt Company
Registration Date : 15th August 2010
Commercial Registration Number : 1134
National ID Number : 200112108
Issued Capital : US$ 140,000
Paid up Capital : US$ 140,000
Total Workforce : 5
Activities : Providers of finance, insurance and real estate services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
LEMAS FOR
INVESTMENT AND INTERNATIONAL TRADE
Registered &
Physical Address
Location : Abu Chawa Complex, 3rd
Floor, 7th Circle
Town : Aqaba 771100
Country : Jordan
Telephone : (962-6) 5828256
Facsimile : (962-6) 5828256
Mobile : (962-77) 7555666
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Aqaba.
Name Nationality Position
·
Rakan
Ahmad Ayoub Allaf Iraqi Chairman
·
Nowar
Nouri Saeed Saeed Iraqi
Director
·
Bashar
Nouri Saeed Ismail Agha Iraqi Director
Date of Establishment : 15th
August 2010
Legal Form :
Exempt Company
Commercial Reg. No. : 1134
National ID No. :
200112108
Issued Capital : US$ 140,000
Paid up Capital : US$ 140,000
Name of Shareholder
(s) Percentage
·
Nowar
Nouri Saeed Saeed 50%
·
Rakan
Ahmad Ayoub Allaf 25%
·
Bashar
Nouri Saeed Ismail Agha 25%
Activities: Engaged in the provision of finance, insurance
and real estate services.
Subject has a
workforce of 5 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.
·
Egyptian
Arab Land Bank
Hotels Zone
PO Box: 524
Aqaba
Tel: (962-3) 2016477
Fax: (962-3) 2016478
No complaints
regarding subject’s payments have been reported.
Please note that we
were unable to contact the subject directly during our investigation.
Local sources
report that subject meets its payments in a timely manner and is considered to
be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
UK Pound |
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.