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Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
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Name : |
AKRAM YOUSEF AND PARTNER CO |
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Registered Office : |
Al Sawaileha Area, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
20.03.2005 |
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Com. Reg. No.: |
67996 |
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Legal Form : |
General Partnership |
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Line of Business : |
Distributors of general foodstuffs |
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No. of Employees : |
15 |
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 – 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 |
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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 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 :
AKRAM YOUSEF AND PARTNER CO
Country of Origin :
Jordan
Legal Form :
General Partnership
Registration Date :
20th March 2005
Commercial Registration Number : 67996
National ID Number :
200023258
Partners Capital :
JD 5,000
Total Workforce :
15
Activities :
Distributors of general foodstuffs
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Akram Mohamed Ali Yousef, Managing Partner
AKRAM YOUSEF AND PARTNER CO
Location : Al Sawaileha
Area
PO Box : 1418
Town : Amman 11910
Country : Jordan
Telephone : (962-6) 5343549
/ 5343548
Facsimile : (962-6)
5343547
Mobile : (962-79)
7772076 / 5962525
Email : akramyco@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
· Akram Mohamed Ali
Yousef Managing Partner
· Ashraf Mohamed Ali
Yousef Partner
· Khalid Mohamed Ali
Yousef Partner
· Waleed Mohamed Ali
Yousef Partner
· Zeinab Mohamed Ali
Yousef Partner
· Bashar Jalal Sales
Manager
Date of Establishment : 20th March 2005
Legal Form : General Partnership
Commercial Reg.
No. : 67996
National ID No. : 200023258
Partners Capital : JD 5,000
· Akram Mohamed Ali
Yousef
· Ashraf Mohamed Ali
Yousef
· Khalid Mohamed Ali
Yousef
· Waleed Mohamed Ali
Yousef
· Zeinab Mohamed Ali
Yousef
Activities: Engaged in the import and distribution of general foodstuffs, including
rice, seeds, tea, sugar, tuna,
pineapple and sweet corn.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 15 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
900,000 JD
1,185,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
HSBC Bank Middle East
Khalid Bin Walid Street
Jebel Hussein
PO Box: 925286
Amman
Tel: (962-6)
5660471 / 5607471
Fax: (962-6)
5692964
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the business is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
UK Pound |
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
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 |
|
<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.