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Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Al Shaikh Salameh
Street, Abu Khurmah, Russaifa, Awajan Industrial Area, P O Box 950747, Amman
11195, Zarqa |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.12.1984 |
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Com. Reg. No.: |
2146, Zarqa |
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Legal Form : |
General Partnership |
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Line of Business : |
· Engaged in the manufacturer of flexible packaging materials. Subject also provides printing, waxing, coating and
laminating of packaging materials. |
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No. of Employees : |
135 |
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 |
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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.
|
Source : CIA |
Company Name :
Also Known As : WALID AL KILANI AND PARTNERS INDUSTRIAL CO
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 9th December 1984
Commercial Registration Number : 2146, Zarqa
Membership Number : 262
National ID Number : 200011916
Partners Capital : JD 3,000,000
Total Workforce : 135
Activities : Manufacture of flexible packaging materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Omar Al Amouri, General Manager
JORDAN ROTOGRAVURE
ESTABLISHMENT
WALID
AL KILANI AND PARTNERS INDUSTRIAL CO
Registered &
Physical Address
Street : Al Shaikh Salameh Street
Area : Abu Khurmah, Russaifa, Awajan
Industrial Area
PO Box : 950747, Amman 11195
Town : Zarqa
Country : Jordan
Telephone : (962-5) 3652132 / 3651134
Facsimile : (962-5) 3650620
Email : info@jordan-roto.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Zarqa.
Name Nationality Position
·
Walid
Ahmed Zaid Al Kilani Jordanian Managing Partner
·
Riyad Walid Ahmed Zaid Al Kilani Jordanian Partner
·
Omar Al Amouri - General
Manager
·
Sofyan Al Kholi - Sales
Manager
·
Ahmed Abu Al Rab - Finance Manager
Date of Establishment : 9th
December 1984
Legal Form :
General Partnership
Commercial Reg. No. : 2146, Zarqa
Membership No. : 262
National ID No. :
200011916
Partners Capital : JD 3,000,000
Name of Partner (s)
·
Walid
Ahmed Zaid Al Kilani
·
Riyad Walid Ahmed Zaid Al Kilani
·
Misr Rotogravure
3rd Industrial Zone
6th
October City
Egypt
Tel:
(20-2) 28333892
Activities: Engaged in the manufacture of flexible packaging
materials.
Subject also provides
printing, waxing, coating and laminating of packaging materials.
Import
Countries: Belgium and the
United Kingdom
International Suppliers:
·
Concept Packaging Dubai
· Gulf Packaging
Industries Saudi Arabia
Operating Trend: Steady
Subject has a
workforce of approximately 135 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 Revenue JD 12,300,000 JD 15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Omar Al Amouri, General Manager
·
Arab
Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
·
Jordan
National Bank
Jabal Amman Branch
PO Box: 1578
Amman 11118
Tel: (962-6) 5642391
Fax: (962-6) 5628809
·
Jordan
Gulf Bank
Yacoub Sarouf Street
Shmeisani
PO
Box: 9989
Amman
11191
Tel:
(962-6) 5603931
Fax:
(962-6) 5664110
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
|
UK Pound |
1 |
Rs.101.49 |
|
Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
-- |
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.