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Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
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Name : |
AL SOOR FOODSTUFF
CO LTD |
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Registered Office : |
Odeh Complex,
Building 130, Wasfi Al Tal Street, P O Box: 183048, Amman 11118 |
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Country : |
Jordan |
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Date of Incorporation : |
28.07.2008 |
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Com. Reg. No.: |
810,
Amman |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Distributors of General Foodstuffs |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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.
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Source : CIA |
Company Name : AL SOOR FOODSTUFF CO LTD
Country of Origin : Jordan
Legal Form :
Limited Liability Company
Registration Date : 28th
July 2008
Commercial
Registration Number : 810, Amman
Chamber Membership
Number : 143058
Issued Capital : JD
10,000
Paid up Capital : JD
10,000
Total Workforce : 2
Activities :
Distributors of general foodstuffs.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Mostafa Ali Ibrahim Mallullah, Director
AL SOOR FOODSTUFF
CO LTD
Building : Odeh Complex, Building 130
Street : Wasfi Al Tal Street
PO Box : 183048
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 5660119
Facsimile : (962-6) 5857058
Mobile : (962-79) 5552861 / 9868814
Email : alimala@orange.jo / alijweed2004@yahoo.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Name Nationality Position
·
Ali Ibrahim Hassan Mallullah Iraqi Managing
Director
·
Mostafa Ali Ibrahim Mallullah Iraqi Director
Date of Establishment : 28th July 2008
Legal Form :
Limited Liability Company
Commercial Reg. No. : 810, Amman
Chamber Member No. : 143058
Issued Capital : JD
10,000
Paid up Capital : JD 10,000
·
Ali Ibrahim Hassan Mallullah
·
Mostafa Ali Ibrahim Mallullah
Activities: Engaged
in the import and distribution of general foodstuff
specialising in canned foods and additives, nuts, seeds and grains as well as
spices.
Import Countries: Mexico, Jamaica and the United Arab
Emirates
International Suppliers:
·
Asociaciones Agroindustriales Serra Mexico
·
Del Tropico SA Jamaica
·
ANS International United
Arab Emirates
·
Asia & Africa General
Trading United Arab Emirates
Subject has a
workforce of 2 employees.
Companies registered
in Jordan are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
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.54.63 |
|
|
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
|
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 |
|
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 |
|
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.