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Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AL SERAJ AL WAHHAJ FOR STORAGE AND GENERAL TRADING CO |
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Registered Office : |
Jordan Islamic Bank Building, Flat 315, 3rd Floor Wasfi Al
Tal Street Tla’a Ali Area PO Box 963294 Amman 11196 |
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Country : |
Jordan |
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Date of Incorporation : |
05.11.2006 |
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Com. Reg. No.: |
889 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of electrical and ventilation equipment, wiring supplies and household appliances. |
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No. of Employees : |
4 |
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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Jordan |
B2 |
B2 |
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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 : AL SERAJ AL WAHHAJ FOR STORAGE AND GENERAL TRADING CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 5th November 2006
Commercial Registration Number : 889
National ID Number : 300000889
Issued Capital : US$ 420,000
Paid up Capital : US$ 420,000
Total Workforce : 4
Activities : Distributors of electrical and ventilation equipment, wiring supplies and
household appliances.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Raad Nouri Y Asin, Managing Director
AL SERAJ AL WAHHAJ FOR STORAGE AND GENERAL TRADING CO
Building : Jordan
Islamic Bank Building, Flat 315, 3rd Floor
Street : Wasfi Al Tal
Street
Area : Tla’a Ali
Area
PO Box : 963294
Town : Amman 11196
Country : Jordan
Telephone : (962-6) 5513870
Facsimile : (962-6)
5513871
Mobile : (962-78)
7686303
Email : info@alserajco.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Nationality Position
· Raad Nouri Y Asin Iraqi Managing
Director
Date of
Establishment : 5th
November 2006
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 889
National ID No. : 300000889
Issued Capital : US$ 420,000
Paid up Capital : US$ 420,000
· Raad Nouri Y Asin 100%
Activities: Engaged in the import and distribution of electrical and ventilation
equipment, wiring supplies and
household appliances.
Import Countries: Europe and the Far East.
Export Countries: Iraq
Subject has a workforce of 4 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.
·
Cairo Amman Bank
Shabsough Street
PO Box: 715
Amman
Tel: (962-6) 5639321
/ 5623100 / 5623109
Fax: (962-6)
5639328
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the quality
of its products with nothing detrimental uncovered regarding the manner in
which operations are conducted. 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.54.46 |
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|
1 |
Rs.83.13 |
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Euro |
1 |
Rs.70.98 |
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 |
-- |
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.