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Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
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Name : |
AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY |
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Formerly Known As : |
RAMI AL SAHEB & PARTNER |
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Registered Office : |
North Marka Industrial Area PO Box 921483 Amman |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2011 |
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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 : |
Suppliers of consumer disposable and packaging products. |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 the government
approved two economic relief packages and a budgetary supplement, largely 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 heavy fuel oils to generate
electricity. An influx of foreign aid, especially from Gulf countries, has
helped to somewhat offset these extrabudgetary expenditures, but the budget
deficit is likely to remain high, at nearly 10% of GDP excluding grants. Amman
likely will continue to depend heavily on foreign assistance to finance the
deficit in 2012. Jordan's financial sector has been relatively isolated from
the international financial crisis because of its limited exposure to overseas
capital markets. Jordan is currently exploring nuclear power generation to
forestall energy shortfalls.
Source
: CIA
Company Name : AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY
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
AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY
ALSO KNOWN AS: RAMI AL SAHEB
& PARTNER
Location : North Marka
Industrial Area
PO Box : 921483
Town : Amman
Country : Jordan
Telephone : (962-6) 4887776
/ 5516242
Facsimile : (962-6)
4887797 / 5516242
Mobile : (962-79) 5666635
Email : info@alhadaf-int.com
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
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
· Rami Jehad Al Saheb
· Zaid Jehad Al Saheb
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: United Kingdom and the Far East.
Brand Names: 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 31/12/10: Year
Ending 31/12/11:
Total Sales JD
3,400,000 JD
3,710,000
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
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
|
|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.