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Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
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Name : |
AL QAWAFEL INDUSTRIAL AGRICULTURAL CO |
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Registered Office : |
Al Qawafel Building Azraq Road Al Hallabat Area PO Box 940455, Amman
11194 Zarqa |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
20.01.2007 |
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Com. Reg. No.: |
256 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of compound chemicals, fertilizers and pesticides. |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 : AL QAWAFEL INDUSTRIAL AGRICULTURAL CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 20th January 2007
Commercial Registration Number : 256
Chamber Membership Number : 13363
National ID Number : 200009181
Issued Capital : JD 200,000
Paid up Capital : JD 200,000
Total Workforce : 120
Activities : Manufacturers of compound chemicals, fertilizers and pesticides.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Khaled Hameed Al Turk, Director
AL QAWAFEL INDUSTRIAL AGRICULTURAL CO
Building : Al Qawafel
Building
Street : Azraq Road
Area : Al Hallabat
Area
PO Box : 940455, Amman
11194
Town : Zarqa
Country : Jordan
Telephone : (962-5) 3826731
/ 3938585
Facsimile : (962-5)
3826732 / 3938584
Mobile : (962-79)
5526341 / 5333805 / 5525147 / (962-78) 8125548
Email : khaled@alqawafel.com
/ info@qawafel.com
/ ahmad@qawafel.com
Subject operates from a medium sized suite of offices that are owned and
located in the Industrial Area of Zarqa.
Name Position
· Salahuddine Saleem
Qandeel Chairman
· Ahmed Saleh Albess
Managing
Director
· Mohamed Saleh
Albess Director
· Mohamed Saleh
Kharzoom Director
· Nedal Mohamed Al
Boaz Director
· Khaled Hameed Al
Turk Director
Date of
Establishment : 20th
January 2007
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 256
Chamber Member No. : 13363
National ID No. : 200009181
Issued Capital : JD 200,000
Paid up Capital : JD 200,000
· Salahuddine Saleem
Qandeel
· Ahmed Saleh Albess
· Mohamed Saleh
Albess
· Mohamed Saleh
Kharzoom
· Nedal Mohamed Al
Boaz
· Khaled Hameed Al
Turk
Activities: Engaged in the manufacture of compound chemicals, fertilizers and
pesticides.
Subject is ISO 9001 accredited.
Operating Trend: Steady
Subject has a workforce of 120 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
3,180,000 JD
3,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Khaled Hameed Al Turk, Director
·
Jordan Islamic Bank
Shmeisani Branch
PO Box: 926225
Amman 11195
Tel: (962-6)
5677377
Fax: (962-6)
5666326
·
Arab Bank Plc
King Hussein
Street
PO Box: 145
Zarqa
Tel: (962-5) 3983381
Fax: (962-5)
3994522
No complaints regarding subject’s payments have been reported.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.41 |
|
|
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.12 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.