|
Report Date : |
31.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL KINZ RIVER FOR CHEMICAL INDUSTRIAL AND COMMERCIAL |
|
|
|
|
Registered Office : |
Sarh Al Shaheed Street, 3rd Floor, Suite 111 Sport City PO Box 926198 Amman 11190 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
23.09.2007 |
|
|
|
|
Com. Reg. No.: |
85512, Amman |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Import and distribution of primary raw chemical materials |
|
|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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
Company Name : AL KINZ RIVER FOR CHEMICAL INDUSTRIAL AND COMMERCIAL
Also Known As : AYMAN JAD'A & PARTNER CO
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 23rd September 2007
Commercial Registration Number : 85512, Amman
Chamber Membership Number : 132480
Issued Capital : JD 18,000
Paid up Capital : JD 18,000
Total Workforce : 12
Activities : Import and distribution of primary raw chemical materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL KINZ RIVER FOR CHEMICAL INDUSTRIAL AND COMMERCIAL
ALSO KNOWN AS: AYMAN JAD'A & PARTNER CO
Street : Sarh Al
Shaheed Street, 3rd Floor, Suite 111
Area : Sport City
PO Box : 926198
Town : Amman 11190
Country : Jordan
Telephone : (962-6) 5151406
/ 5151408
Facsimile : (962-6)
5151407
Mobile : (962-79)
5533219 / 9694646 / 5787643
Email : kinzrc@orange.jo
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
· Ayman Emile
Antoine Jada Managing
Partner
· Hanan Nadeeb
Sulaiman Moasher Partner
· Nariman Daban Administration
Manager
· Mayson Jadallah Sales
Manager
Date of
Establishment : 23rd
September 2007
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 85512, Amman
Chamber Member No. : 132480
Issued Capital : JD 18,000
Paid up Capital : JD 18,000
· Ayman Emile
Antoine Jada
· Hanan Nadeeb
Sulaiman Moasher
Activities: Engaged in the import and distribution of primary raw chemical
materials.
Import Countries: India, United Arab Emirates, Egypt, Brazil, Spain,
Poland, Italy, United States of America and
China
International Suppliers:
· Taj Al Mulouk United
Arab Emirates
· General Mineral
Industrial United
Arab Emirates
· ENOC United
Arab Emirates
· Delta Chemical Egypt
· Eagle Chemical Egypt
· EuroCeras Sp. z o.o. Poland
· Aldro Industries VOS Pigmentos Metalico Brazil
· Chemipol Spain
· Laviosa Italy
· Columbian Chemical United
States of America
· Hangzhu Dima Colour Imp Exp Ltd China
· India English Co
For Clay India
Operating Trend: Steady
Subject has a workforce of 12 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
1,200,000 JD
1,360,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Jordan Kuwait Bank
Abdali Branch
PO Box: 9776
Amman
Tel: (962-6)
5688814
No complaints regarding subject’s payments have been reported.
Credit amount US$
100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Local sources report that payment obligations are met in a generally timely
manner and the operating history is clear. As such the company is deemed a fair
trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.