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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AYMAN ZAMAN FOR
EUROPEAN READYMADE |
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Registered Office : |
Sultan Street,
Tla Ali Al Area, Amman |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
23.08.2008 |
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Com. Reg. No.: |
184903 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Import and
Distributors of Readymade Garments and Textiles. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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.
Source
: CIA
Company Name :
AYMAN ZAMAN FOR EUROPEAN READYMADE
Country of Origin : Jordan
Legal Form :
Sole Proprietorship
Registration Date : 23rd
August 2008
Commercial
Registration Number : 184903
National ID Number : 100288435
Invested Capital : JD 5,000
Total Workforce : 10
Activities :
Distributors of readymade garments and textiles
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AYMAN ZAMAN FOR
EUROPEAN READYMADE
Street : Sultan Street
Area : Tla Ali Al Area
Town : Amman
Country : Jordan
Telephone : (962-6) 5677759
Facsimile : (962-6) 5677759
Mobile : (962-79) 6667536
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Amman.
Name Position
·
Saed
Mahmoud Eid Jibas Proprietor
& General Manager
·
Abid
Mahmoud Eid Jibas Assistant
General Manager
Date of Establishment : 23rd
August 2008
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 184903
National ID No. :
100288435
Invested Capital
: JD 5,000
Mr Saed Mahmoud Eid
Jibas is the sole proprietor of the business.
Activities: Engaged
in the import and distribution of readymade garments and textiles.
Import
Countries: Europe and the Far East.
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 770,000 JD 810,000
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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
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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 |
|
<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.