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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ALI ABU HAMMAD CHEMICAL EST |
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Registered Office : |
King Abdullah the
Second Industrial Area, Street 6, Sahab Area, P O Box 299, Amman 11512 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.07.2003 |
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Com. Reg. No.: |
130554, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
importer
and distributor of primary raw chemical
materials. |
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No. of Employees : |
04 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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.
|
Source : CIA |
Concern Name : ALI ABU HAMMAD CHEMICAL EST
Also Known As : ALI HAMMAD EID ABU HAMMAD EST
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 3rd July 2003
Commercial Registration Number : 130554, Amman
Chamber Membership Number : 103871
Invested Capital : JD 30,000
Total Workforce : 4
Activities : Distributors of primary raw chemical materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ali Hammad Eid Abu Hammad, Proprietor & General Manager
ALI ABU HAMMAD
CHEMICAL EST
ALI HAMMAD EID ABU HAMMAD
EST
Registered &
Physical Address
Location : King Abdullah the Second
Industrial Area, Street 6
Area : Sahab Area
PO Box : 299
Town : Amman 11512
Country : Jordan
Telephone : (962-6) 4023792
Facsimile : (962-6) 4023793
Mobile : (962-79) 5576036
Email : ali_chem@tedata.net.jo / info@alichemicals.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Amman.
Name Position
·
Ali
Hammad Eid Abu Hammad Proprietor
& General Manager
·
Ayman Hammad Eid Abu Hammad Assistant
General Manager
Date of Establishment : 3rd
July 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 130554, Amman
Chamber Member No. : 103871
National
ID Number : 100044937
Invested Capital
: JD 30,000
Mr Ali Hammad Eid
Abu Hammad is the sole proprietor of the business.
Activities: Engaged in the import
and distribution of primary raw chemical materials.
Import
Countries: India, Saudi
Arabia, United Kingdom, Malaysia, China, Belgium and Spain
International
Suppliers:
·
Godrej Industrial India
·
Galaxy Industries India
·
Methanol Co Ltd Saudi
Arabia
·
Cristal Co Saudi
Arabia
·
Berting Belgium
·
Daibpore Spain
·
Matrix Malaysia
·
Four Everest China
·
Cosmi Italy
·
Qutachem United
Kingdom
·
Inifity Spain
Operating Trend: Steady
Subject has a
workforce of 4 employees.
Financial highlights
provided by local sources are given below:
Currency: United
States Dollars (US$)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Revenue US$ 3,620,000 US$ 4,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Ali Hammad Eid Abu Hammad, Proprietor &
General Manager
·
Arab
Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
Email: secretariat@arabbank.com.jo
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.61.92 |
|
UK Pound |
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
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 |
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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.