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Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ASIA STAR TRADING ESTABLISHMENT |
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Registered Office : |
Al Bir Commercial Centre Abdul Hamid Sharaf Street Shmeisani PO Box 41801 Amman 11194 |
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Country : |
Jordan |
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Date of Incorporation : |
09.07.1993 |
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Com. Reg. No.: |
77978, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of scrap metals and waste materials. |
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No. of Employees : |
6 |
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 – 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 |
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Moderate |
B1 |
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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 : ASIA STAR TRADING ESTABLISHMENT
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 9th July 1993
Commercial Registration Number : 77978, Amman
National ID Number : 100047274
Invested Capital : JD 15,000
Total Workforce : 6
Activities : Distributors of scrap metals and waste materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ASIA STAR TRADING ESTABLISHMENT
Registered &
Physical Address
Building : Al Bir
Commercial Centre
Street : Abdul Hamid
Sharaf Street
Area : Shmeisani
PO Box : 941801
Town : Amman 11194
Country : Jordan
Mobile : (962-79)
5548123 / 6060088
Email : asiastar@go.com.jo
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Amman.
Name Position
·
Naief Essa Jaber Qutaish Proprietor
& General Manager
·
Issa Naief Qutaish Assistant
General Manager
Date of
Establishment : 9th
July 1993
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 77978, Amman
National ID No. : 100047274
Invested Capital : JD 15,000
Mr Naief Essa Jaber Qutaish is the sole proprietor of the business.
· Asia Star Global
PO Box: 941801
Amman
11194
Tel:
(962-6) 5655506 / 5673236
Fax:
(962-6) 5673237
Activities: Engaged in the import and distribution of scrap metals and waste
materials.
Import Countries: Italy, Belgium, Egypt, Morocco and Yemen.
Subject has a workforce of 6 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
Acc No. 242697 8
500 USA
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 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 : |
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 |
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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 |
|
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 |
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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.