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Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ELNILEIN TRADING EST |
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Registered Office : |
Al Abdali- |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.12.1991 |
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Com. Reg. No.: |
66965 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of
foodstuff, ready made garments, haberdashery, electrical, electronic and
medical laboratory equipment. |
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No. of Employees : |
12 |
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 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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 :
ELNILEIN TRADING EST
Country of Origin :
Jordan
Legal Form :
Sole Proprietorship
Registration Date :
7th December 1991
Commercial Registration Number :
66965
Chamber Membership Number :
230114
National ID Number :
1000017691
Invested Capital :
JD 10,000
Total Workforce :
12
Activities :
Distributors of foodstuff, ready made garments, haberdashery, electrical,
electronic and medical laboratory equipment.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ahmed Mohamed Salem Lubbad, Proprietor &
General Manager
ELNILEIN TRADING
EST
Registered &
Physical Address
Location : Al
Abdali-Akarco Commercial Center, 10th Floor, Office No. 6
PO Box : 150976
Town : Amman 11115
Country : Jordan
Telephone : (962-6) 5696491
/ 5696492
Facsimile : (962-6)
5696493
Email : elnilein@go.com.jo
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Amman.
Name Position
Ahmed Mohamed Salem Lubbad Proprietor
& General Manager
Adnan Zaghloul Assistant
General Manager
Date of Establishment : 7th December 1991
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 66965
Chamber Member No. : 230114
National ID No. : 1000017691
Invested Capital : JD 10,000
Mr Ahmed Mohamed Salem Lubbad is the sole
proprietor of the business.
Activities: Engaged in the import and
distribution of foodstuff, ready made garments, haberdashery, electrical,
electronic and medical laboratory equipment.
Import Countries: United
Kingdom, Taiwan, South Korea, Japan and Australia.
International Suppliers:
Niin Taiwan
Honga South Korea
C Jong South Korea
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
810,000 JD
925,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Arab Bank Plc
Abdali Branch
PO Box: 926607
Amman
Tel: (962-6) 5627271
Fax: (962-6) 5649305
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
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 |
|
<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.