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Report Date : |
16.07.2013 |
IDENTIFICATION DETAILS
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Name : |
HASAN TAWFIQ HASAN SUAYED & PARTNERS |
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|
|
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Registered Office : |
Al Majid Complex, Al
Yadoudeh Area, P O Box 292, Amman 11610 |
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|
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Country : |
Jordan |
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|
|
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Financials (as on) : |
31.12.2012 |
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|
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Date of Incorporation : |
22.11.1994 |
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|
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Com. Reg. No.: |
38336, Amman |
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|
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Legal Form : |
Limited Liability Partnership |
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|
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Line of Business : |
Importer and distributor of agriculture machinery, chemicals, fertilisers and pesticides |
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|
|
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No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : HASAN TAWFIQ HASAN SUAYED & PARTNERS
Also Known As : ARAB GROUP FOR AGRICULTURE PRODUCTION & SUPPLIES
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 22nd November 1994
Commercial Registration Number : 38336, Amman
Chamber Membership Number :
54029
National ID Number : 200013900
Issued Capital : JD 15,000
Paid up Capital : JD 15,000
Total Workforce : 12
Activities :
Import and distribution of agriculture machinery,
chemicals and
pesticides
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Hussain Tawfiq, Finance Manager
HASAN TAWFIQ HASAN
SUAYED & PARTNERS
ARAB GROUP FOR AGRICULTURE PRODUCTION & SUPPLIES
Registered &
Physical Address
Building : Al Majid Complex
Area : Al Yadoudeh Area
PO Box :
292
Town : Amman 11610
Country : Jordan
Telephone : (962-6) 4129639 / 4129209
Facsimile : (962-6) 4129491 / 4129610
Email : arabgrp@wandoo.jo
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Amman.
Name Position
·
Hassan Tawfiq Hassan Suayed Managing
Partner
·
Bassin Yahya Omar Al Douag Partner
·
Essam Yahya Omar Al Douag Partner
·
Hani Mohamed Mostafa Salim Partner
·
Haythem Daragma Commercial
Manager
·
Hussain Tawfiq Finance
Manager
Date of Establishment : 22nd
November 1994
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 38336, Amman
Chamber Member No. : 54029
National ID No. :
200013900
Issued Capital : JD 15,000
Paid up Capital : JD 15,000
Name of Partner
(s)
·
Hassan Tawfiq Hassan Suayed
·
Bassin Yahya Omar Al Douag
·
Essam Yahya Omar Al Douag
·
Hani Mohamed Mostafa Salim
·
Atta
For Agriculture Material Co
Amman
Activities: Engaged in the import
and distribution of agriculture machinery, chemicals, fertilisers and
pesticides.
Import
Countries: United Kingdom, Netherlands,
Spain, Belgium and China
International
Suppliers:
·
Singita Netherlands
·
Daehnseldt Netherlands
·
Fetrico Spain
·
Agriehar Belgium
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 Sale JD 1,180,000 JD 1,300,000
Local sources
consider subject’s financial condition to be Fair.
The above figures were
provided by Mr Hussain Tawfiq, Finance Manager
·
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.
Amount overdue 0
Payment terms 180
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.60.05 |
|
UK Pound |
1 |
Rs.90.71 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.