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Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
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Name : |
JAMIL SHIHAB AND PARTNERS CO |
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Registered Office : |
Al Shukhneh, Hay Masoum,
P O Box 151033, Zarqa 13115 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.09.1998 |
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Com. Reg. No.: |
50769 |
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Legal Form : |
General Partnership |
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Line of Business : |
Distributors of general foodstuffs |
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No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 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.
|
Source : CIA |
Company Name : JAMIL SHIHAB AND PARTNERS CO
Also Known As : JAMIL SHIHAB TRADING CO AND PARTNERS
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 6th September 1998
Commercial Registration Number : 50769
Chamber Membership Number : 62548
Partners Capital : JD 10,000
Total Workforce : 10
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Jamil Qasem Ismail Shihab, Partner
JAMIL SHIHAB AND
PARTNERS CO
JAMIL SHIHAB TRADING CO AND
PARTNERS
Registered &
Physical Address
Street : Al Shukhneh Street
Area : Hay Masoum
PO Box : 151033
Town : Zarqa 13115
Country : Jordan
Telephone : (962-5) 3845249
Facsimile : (962-5) 3845249
Mobile : (962-79) 5536481 / 5536542
Email : info@shihabtrading.com / ahmed@shihabtrading.com / jehad@shihabtrading.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Zarqa.
Name Position
·
Jamil
Qasem Ismail Shihab Managing
Partner
·
Ahmed
Jamil Qasem Ismail Shihab Partner
·
Jehad
Jamil Qasem Ismail Shihab Partner
·
Akram
Jamil Qasem Ismail Shihab Partner
·
Ismail
Jamil Qasem Ismail Shihab Partner
·
Amjad
Jamil Qasem Ismail Shihab Partner
Date of Establishment : 6th
September 1998
Legal Form :
General Partnership
Commercial Reg. No. : 50769
Chamber Member No. : 62548
Partners Capital : JD 10,000
Name of Partners (s) Percentage
·
Jamil
Qasem Ismail Shihab 17.5%
·
Ahmed
Jamil Qasem Ismail Shihab 17.5%
·
Jehad
Jamil Qasem Ismail Shihab 17.5%
·
Akram
Jamil Qasem Ismail Shihab 17.5%
·
Ismail
Jamil Qasem Ismail Shihab 15.0%
·
Amjad
Jamil Qasem Ismail Shihab 15.0%
Activities: Engaged in the import and distribution of
general foodstuffs, including dried seeds, sunflower seeds and sesame seeds.
Import
Countries: Egypt, Canada
and the United Kingdom.
Operating Trend: Steady
Subject has a
workforce of 10 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 895,000 JD 940,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.17 |
|
UK Pound |
1 |
Rs.82.45 |
|
Euro |
1 |
Rs.70.70 |
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 |
|
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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.