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Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Building No. 33, Abu Al Dardag
Al Sahabi Street, North Marka Industrial Area, PO Box : 921483, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
23.01.2003 |
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Com. Reg. No.: |
86882 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
· Subject is a supplier of consumer disposable and packaging products to food processors, hotels, caterers and related companies. It distributes sandwich paper, latex gloves, PE disposable gloves, disposable aprons, paper cook caps, plastic cups, plastic catering items, absorbent pads, doyleys, toothpicks, and multi disposable catering items as well as industrial stretch film. · The company also manufactures aluminium foil and PVC cling film |
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No. of Employees : |
100 |
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 – March, 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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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.
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Source
: CIA |
Company Name :
Also Known As :
RAMI AL SAHEB & PARTNER
Country of Origin :
Jordan
Legal Form :
Limited Liability Partnership
Registration Date :
23rd January 2003
Commercial Registration Number :
86882
Chamber Membership Number :
14204
National ID Number :
200102481
Issued Capital :
JD 100,000
Paid up Capital :
JD 100,000
Total Workforce :
100
Activities :
Suppliers of consumer disposable and packaging products.
Financial Condition :
Fair
Payments : Nothing detrimental
uncovered
Operating Trend :
Steady
Person Interviewed :
Rami Jehad Al Saheb, Managing
Partner
AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY
ALSO KNOWN AS: RAMI AL SAHEB
& PARTNER
Registered &
Physical Address
Building : Building No.
33
Street : Abu Al Dardag Al Sahabi Street
Area : North Marka
Industrial Area
PO Box : 921483
Town : Amman 11192
Country : Jordan
Telephone : (962-6) 4887776
/ 5516242
Facsimile : (962-6) 4887797
/ 5516242
Mobile : (962-79) 5666635
Email : info@alhadaf-int.com
Premises
Subject operates from a medium sized suite of offices, a factory and
warehousing that are owned and located in the Industrial Area of Amman.
Name Position
Rami Jehad Al Saheb Managing
Partner
Zaid Jehad Al Saheb Partner
Mohamed Zuriqat Sales
Manager
Heyam Samrian Accountant
Date of Establishment : 23rd January 2003
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 86882
Chamber Member No. : 14204
National ID No. : 200102481
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Name of Partners
Rami Jehad Al Saheb
Zaid Jehad Al Saheb
Bustani & Al Saheb Trading Co
Amman
Activities: Subject is a leading
supplier of consumer disposable and packaging products to food processors,
hotels, caterers and related companies. It distributes sandwich paper, latex
gloves, PE disposable gloves, disposable
aprons, paper cook caps, plastic cups, plastic catering items, absorbent pads,
doyleys, toothpicks, and multi disposable catering items as well as industrial
stretch film.
The
company also manufactures aluminium foil and PVC cling film.
Import Countries: China,
France, Norway and Saudi Arabia.
International
Suppliers:
Loften China
Linpack France
National Plastic Co Saudi Arabia
Nordic Paper Norway
Brand Names: RZ,
DOLPHINE and FORSTER
Operating Trend: Steady
Subject has a workforce of 100 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
8,885,000 JD
9,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Rami Jehad Al Saheb, Managing Partner
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.98 |
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1 |
Rs.101.49 |
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Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.