MIRA INFORM REPORT

 

 

Report Date :

02.08.2013

 

IDENTIFICATION DETAILS

 

Name :

GREEN LAND EST FOR AGRICULTURAL SERVICES

 

 

Formerly Known As :

MOHAMED MAHMOUD DARAWI & PARTNERS CO LTD

 

 

Registered Office :

Abu Niamaa Building, Abu Niamaa Building, Wehdat Area, Sheimesani, 621352 & 276, Amman 11162

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

06.09.1960

 

 

Com. Reg. No.:

3379, Amman

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Subject is engaged in the import and distribution of agricultural materials, tools and machinery, chemicals, fertilisers, insecticides seeds and garden supplies.

 

 

No. of Employees :

25

 

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

 

 

Payment Behaviour :

No Complaints

 

 

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 – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 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

 

SUMMARY

 

Company Name                                    : GREEN LAND EST FOR AGRICULTURAL SERVICES

Also Known As                                     : MOHAMED MAHMOUD DARAWI & PARTNERS CO LTD

Country of Origin                                   : Jordan

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 6th September 1960

Commercial Registration Number           : 3379, Amman

Chamber Membership Number               : 3607

Issued Capital                                       : JD 60,000

Paid up Capital                                     : JD 60,000

Total Workforce                                     : 25

Activities                                               : Import and distribution of agricultural materials, tools and machinery,

                                                              chemicals, fertilisers, insecticides seeds and garden supplies

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Ms Amal Hussain, Administration Manager

COMPANY NAME

 

GREEN LAND EST FOR AGRICULTURAL SERVICES

 

 

ALSO KNOWN AS

 

MOHAMED MAHMOUD DARAWI & PARTNERS CO LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Abu Niamaa Building

Street               : Sharif Jamil Bin Naser Street

Area                 : Wehdat Area, Sheimesani

 

PO Box            : 621352 & 276

 

Town                : Amman 11162

Country             : Jordan

 

Telephone         : (962-6) 5699165

Facsimile          : (962-6) 5699164

Mobile              : (962-79) 5521346

Email                : green.land@index.com.jo / info@greenlandjo.com

 

Premises

 

Subject operates from a suite of offices, a warehouse and a showroom covering an area of 920 square metres that are rented and located in the Central Business Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Abdullah Abdul Jabbar                                                                     Managing Partner

 

·       Mohamed Mahmoud Al Darawi                                                          Partner

 

·       Sulaiman Teloul                                                                                Partner

 

·       Mohamed Al Douaib                                                                         Partner

 

·       Ms Huda Abu Lawi                                                                            Partner

 

·       Ms Amal Hussain                                                                              Administration Manager

 

·       Adnan Attiya                                                                                    Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 6th September 1960

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 3379, Amman

 

Chamber Member No.  : 3607

 

Issued Capital              : JD 60,000

 

Paid up Capital            : JD 60,000

 

Name of Partner (s)

 

·       Abdullah Abdul Jabbar

 

·       Mohamed Mahmoud Al Darawi

 

·       Sulaiman Teloul

 

·       Mohamed Al Douaib

 

·       Ms Huda Abu Lawi

 

 

AFFILIATED COMPANIES

 

·       Darawi Co Trading

Iraq

     Tel: (964-79) 01374945

 

·       Alanfal Fertilisers Industry Co

PO Box: 941776

Amman 11194

Tel: (962-6) 5699165

Fax: (962-6) 5699164

Email: anfalco@cyberia.jo

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of agricultural materials, tools and machinery, chemicals, fertilisers, nsecticides seeds and garden supplies.

 

Import Countries: Netherlands, Germany, France, Turkey, Taiwan, India, Australia and the United States of America

 

International Suppliers:

 

·       Bakker Brothers                                Netherlands

·       Agrotip                                            Germany

·       Seven Brothers Seeds                      Turkey

·       Yuksel                                              Turkey

·       BHN Seeds                                      United States of America

·       Evergrow Seeds                               Taiwan

·       GSN                                                France

·       Aglukon                                           Germany

·       Biesterfield                                       Germany

·       Biostadt India Ltd                             India

·       Omnia Specialities                            Australia

·       Biolchem                                          Italy

·       Boon Vanit International                    Thailand

·       ACM                                                Malaysia

·       Golden West Co                               Greece

·       Vellsam                                            Spain

·       Open Green                                      Italy

·       Nordox                                            Norway

·       Agriphar                                           Belgium

·       Certis                                               Belgium

·       Stavros Zannetos                             Cyprus

·       Sundat                                             Singapore

·       Sinochem Ningbo                             China

·       HC Agrochemicals Co Ltd                 China

·       Agro Chem                                       Egypt

 

Operating Trend: Steady

 

Subject has a workforce of 25 employees.

 

 

FINANCIAL DATA

 

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 1,750,000                             JD 1,800,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures were confirmed by Ms Amal Hussain, Administration Manager.

 

 

BANKERS

 

·       Arab Bank Plc

Souk Alkhodar Almarkazi Street

Wehdat

PO Box: 16067

Amman

Tel: (962-6) 5771122

Fax: (962-6) 5744572

 

·       Jordan Islamic Bank

Shmeisani Branch

PO Box: 926225

Amman

Tel: (962-6) 5677377

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                               April 2005                                 April 2011

Credit amount                                       GBP 43,000                              EUR 62,000

Amount overdue                                    0                                              0

Payment terms                                      120 days                                   120 days

Payment Method                                   Letters of Credit                        Letters of Credit

Paying record                                       No Complaints                          No Complaints

 

 

GENERAL COMMENTS

 

Green Land Est For Agricultural Services has been in business for over 50 years and has gained a good reputation for the quality of its products.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.74

UK Pound

1

Rs.92.05

Euro

1

Rs.80.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

SMN

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.