|
Report Date : |
26.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZAMZAM BROS TRADING CO LTD |
|
|
|
|
Registered Office : |
Beside Balka Technical
Applied University, North Marqa, P O Box 182385 & 57, Amman |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishments: |
1969 |
|
|
|
|
Com. Reg. No.: |
22676 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
importer and distributor of general foodstuffs,
including confectionery, chocolate, vegetables and edible oils. |
|
|
|
|
No. of Employees : |
40 |
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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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) |
|
Jordan |
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 : ZAMZAM BROS TRADING CO LTD
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Start Date : 1969
Commercial Registration Number : 22676
National ID Number : 200113386
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Total Workforce : 40
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Mustafa Zamzam, Managing Partner
ZAMZAM BROS TRADING
CO LTD
Registered &
Physical Address
Location : Beside Balka Technical Applied
University
Area : North Marqa
PO Box : 182385 & 57
Town : Amman
Country : Jordan
Telephone : (962-6) 4894640 / 4885960
Facsimile : (962-6) 4885962
Mobile : (962-79) 5505512
Email : info@zamzam.com.jo
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Amman.
Name Position
·
Mohamed
Mustafa Zamzam Managing
Partner
·
Hassan
Bader Zamzam Partner
·
Nabil
Mustafa Zamzam Partner
·
Rajab
Mohamed Mustafa Zamzam Partner
·
Mohamed
Ahmed Zamzam Partner
·
Ibrahim
Mustafa Zamzam Partner
·
Yousef
Mohamed Mustafa Zamzam Partner
·
Mustafa
Mohamed Zamzam Partner
·
Mahmoud
Ahmed Zamzam Partner
·
Majd
Ahmed Zamzam Partner
Date of Establishment : 1969
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 22676
National ID No. : 200113386
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Name of Partners
·
Mohamed
Mustafa Zamzam
·
Hassan
Bader Zamzam
·
Nabil
Mustafa Zamzam
·
Rajab
Mohamed Mustafa Zamzam
·
Mohamed
Ahmed Zamzam
·
Ibrahim
Mustafa Zamzam
·
Yousef Mohamed
Mustafa Zamzam
·
Mustafa
Mohamed Zamzam
·
Mahmoud
Ahmed Zamzam
·
Majd
Ahmed Zamzam
Activities: Engaged in the import and distribution of
general foodstuffs, including confectionery, chocolate, vegetables and edible
oils.
Import
Countries: Turkey and
Italy.
Operating Trend: Steady
Subject has a
workforce of 40 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 18,455,000 JD 20,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Mustafa Zamzam, Managing Partner
·
Jordan
Kuwait Bank
Abdali Branch
PO Box: 9776
Amman
Tel: (962-6) 5688814
·
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.58.94 |
|
UK Pound |
1 |
Rs.90.48 |
|
Euro |
1 |
Rs.77.87 |
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.