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Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED AL HAJ AHMAD AND ABDUL RAHMA AL
DERAINI |
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Registered Office : |
254 Mecca Street,
Umm Summaq Area, P O Box 540010, Amman 11937 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
13.08.2001 |
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Com. Reg. No.: |
60887, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Manufacturers of wooden kitchens and furniture |
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No. of Employees : |
40 |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 and 2012, the government approved two economic relief packages and a budgetary supplement, meant 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 diesel imports, primarily from Saudi Arabia, to generate electricity. Jordan is currently exploring nuclear power generation in addition to the exploitation of abundant oil shale reserves and renewable technologies to forestall energy shortfalls. In 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan's financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan will continue to depend heavily on foreign assistance to finance the deficit in 2013.
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Source : CIA |
Company Name : MOHAMED AL HAJ AHMAD AND ABDUL RAHMA AL DERAINI
Also Known As : ALAMIEH FOR AMERICAN AND GERMAN KITCHENS
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 13th August 2001
Commercial Registration Number : 60887, Amman
National ID Number : 200025727
Partners Capital : US$ 42,000
Total Workforce : 40
Activities : Manufacturers of wooden kitchens and furniture
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MOHAMED AL HAJ
AHMAD AND ABDUL RAHMA AL DERAINI
ALAMIEH FOR AMERICAN AND
GERMAN KITCHENS
Registered &
Physical Address
Street : 254 Mecca Street
Area : Umm Summaq Area
PO Box : 540010
Town : Amman 11937
Country : Jordan
Telephone : (962-6) 5861668
Facsimile : (962-6) 5816115 / 4711281
Mobile : (962-79) 9701994
Email : info@al-alamieh.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Amman.
Branch Office (s)
Location Description
·
Irbid Showroom
premises Tel:
(962-2) 7101076
Fax: (962-2) 7101076
Email: irbid@al-alamieh.com
·
Aqaba Factory
premises
Tel/Fax: (962-6) 5555555
Email: aqaba@al-alamieh.com
/ factory@al-alamieh.com
Name Nationality Position
·
Mohamed
Al Saleh Al Haj Ahmad Jordanian Managing
Partner
·
Abdul
Rahman Abdul Kareem Al Deraini Jordanian Partner
·
Majdi
Al Zarraq - Branch
Manager
·
Waleed
Al Abid - Factory
Manager
Date of Establishment : 13th
August 2001
Legal Form :
General Partnership
Commercial Reg. No. : 60887, Amman
National
ID No. : 200025727
Partners Capital : US$ 42,000
Name of Partners (s) Percentage
·
Mohamed
Al Saleh Al Haj Ahmad 50%
·
Abdul
Rahman Abdul Kareem Al Deraini 50%
Activities: Engaged in the manufacture of wooden
kitchens and furniture.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 40 employees.
Financial
highlights provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales JD 3,660,000 JD 4,190,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Jordan Ltd
Jebel Amman
PO Box: 2140
Amman
Tel: (962-6) 642034
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.94 |
|
UK Pound |
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
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 |
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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 |
|
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.